Comments by "Curious Crow" (@CuriousCrow-mp4cx) on "The Fed Just Revealed What They Really Think of the Economy" video.

  1. So you didn't take note of the job data? Employers in the productive economy comprising of sectors like manufacturing and construction aren't hiring. Not only that, but the Gig Economy is acting as a soak for those laid-off or who have had their hours cut. People are getting 2 or 3 Gig Economy jobs instead of one full time job, which explains the exponential growth in part-time jobs. And furthermore, the growth in new jobs is still within the public sector, and those jobs are being paid for by the remaining Covid reserves, and it's predicted that money will run out in the new year. And remember, those coming across the border are destined for the jobs Americans don't want to do. They're mostly not competing for white collar jobs, or decent paying blue collar jobs. They're accessing the bottom of the ladder. So, isn't it time to acknowledge what large caps corporations said during their first quarter earnings call, when they announced beside their earning that they were planning lay-offs? If they're trimming their workforces, what do you think is happening on the lower rings of the ladder? Hint: hiring freezing, employee hoarding, hours cuts, and the less scrupulous employers are attempting into increase attrition of their workers by cancelling hybrid working arrangements. This is why until recently all the labour market indicators suggested the economy was hot, whilst consumer spending was shrinking fast. If workers who are being laid off, or having their hours cut, they're going to hustle for extra money from the Gig Economy. Or claim unemployment as a last resort, because finding full time work is difficult right now. Hence the contradictory signals of a 'hot' economy with disinflation and swan diving consumer spending at the same time. It's not so much that the Jolts data is misleading. Rather it's reflecting employers are fishing for the best candidates, but not taking the on immediately if at all. And it's the biggest companies doing this. Its very much like t fine hairline cracks appearing in the economy as a signal worse is to follow. Probably sometime after the election. Things are bad for consumer spending right now, and winter is yet to arrive. Good luck everyone. We're gonna need it.
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