Comments by "Rune of Svalbard" (@vladimirofsvalbard9477) on "How Money Works" channel.

  1. I have a CDL, 4 years of Shunter op, excavation plumbing, and brewery. I'm also a stay at home dad that runs a business with my wife. This was my experience from 2021-2022. I applied to three breweries; two of which were by phone. Two told me that they weren't hiring and I never heard back from one. I applied to 6 shipping companies(w/CDL); 2 demanded 6 day workweeks and 16hr shifts (due to a Federal loophole), 1 told me that I had to pickup my truck and drive to Columbus (1.5 hours) before I would be start to be paid each day, and I never heard back from the other three. I applied to the water department, which I was referred to and told that they were having trouble hiring people. CDL-B was a plus (since I already have A Class). I never heard back from them. I applied to two entry level data jobs (no college required). Never heard back from either. I have a strong feeling that businesses have an incentive to falsely report their hiring statistics. How else can you explain the number of jobs available, but the inability to get them?
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  2. These companies are posting 'ghost jobs' so that they can continue to get forgiveness on their PPP loans as per the stipulations. PPP loan fraud is one of the biggest problems in the last several years.
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  3. I moved out on $15/h in 2017 working as a Shunter Operator at Fedex. There is no way in hell I could survive in the same apartment on those wages; I would need $25/h minimum.
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  4. It's because the entire corporate model is a scam. If the company does poorly, the executives and board members cash in on their SHORT positions and then claim bankruptcy. They buy a yacht and YOU pay the bill with tax dollars for their insolvency.
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  5. - You can't buy a home - You can't get rid of your student debt - Can't find a good woman - None of your "friends" are actually friends - Your diet is killing you Why would anyone expect Gen Z and the tail end of the millennials to do anything else OTHER than invest in addictions to escape reality? I'm not saying it's right: rather that it was inevitable. Just wait until the Metaverse unfolds...
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  6. Well, he's not wrong; people can't keep having prosperity by outsourcing jobs and taking low interest debt. The free ride is over and Millennials and Zoomers will have to pay for it; thanks Grandpa!
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  7.  @TheFranke100  Older people have NO idea that they actually had it about 5 times better in 1970s than we have it now. For a wage example, the minimum wage in 1980 (40 hours a week) would net you 12% of the average home value in a single year. Try that in 2023 and you will receive 3% of the average home value.
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  8. Companies wouldn't be doing this if they didn't have Universities and Government in their pocket. Government guarantees the loans, Universities guarantee degrees for their corporate buddies, corporations get kickbacks from the Universities and then low-ball their actual expectations for the workplace. It's a giant racket.
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  9. I would have told you to ditch college and go get your CDL ($80,000) starting for many positions. I started making $70k in 2019; that same position at Anheuser pays $85k now. College is a mega waste of time, unless you're going into STEM or Medical. My own sister rejected my advice and got herself into $144,000 of debt for a freaking Interior Design Degree; now she has no interest in actually doing it. I'll tell you, the cultural obsession with a defunct college system will go down in history as the biggest blunder of the 21st century.
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  10. Well, to be realistic. If you have no liabilities and no assets; you in a far better position than most Americans. Stay out of debt kid! I hope you go far. Work a job while living with your parents and then go by land; you won't regret it. You could pitch a tent on that land for free indefinitely if you weren't actively building on it :)
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  11. You literally just described the Democratic Party; no plan, no policies, no action. What on earth are you watching that gives you the impression that they have a plan?
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  12. It's currency devaluation; all to pay for debts that can never be afforded in the first place.
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  13. Never would have happened if the Government hadn't been guaranteeing loans. The Universities get paid (up front with tax dollars) and you get stuck with the government bill. The Universities have absolutely ZERO incentive to give you a quality education after that.
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  14.  @bigneiltoo  I own a home; $880/m. Plus, all my old friends still live with their parents and they're all around me age; I'm 30. Friends, let alone the economy aren't what they used to be. It's brought out the worst in people. My entire family fell apart post-2020 and many people I knew resorted to alcohol and some even drugs. I had to get away from all that, especially now with a child. I wouldn't wish anybody to pain of starting their life 18+ in a post-2020 economy. The US Dollar been inflated some 55% since then with no wage growth. If people thought 1977 was bad; this is considerably worse in terms of purchase power.
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  15. *Opens BITCOIN Mining Position *Rejects Satoshi Nakamoto
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  16.  @saintseer8214  Actually it's a state by state basis. The President has largely nothing to do with it.
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  17. Opposite of capitalism bud; it's socialism. Government printing mass amounts of money and bailing out corporations isn't capitalism.
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  18.  @RMJJ91  What about being rich makes you more greedy than a poor person; honest question? Greedy doesn't describe your assets; it's describes your ambition to have more than what is fairly due.
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  19. I'm one of those (not in the labor force - men). I'm 30 years old and live in Ohio. I was working for Anheuser-CDL in 2020 when the pandemic hit; $70k job. My wife and I had just bought a house and the commute was 1 hour at the time. In January of that year, my company gave notice that they were removing our 13 annual unpaid vacation; giving us (5 personal/3 sick). Mind you, this was on a 6 day/12 hour schedule for slip-seat hauls. What a slap in the face. My wife had recently picked up her new job that payed six figures and we talked it over and I decided to stay home and raise my son. In the end it all worked out, but I don't blame other men whatsoever. Child-care is ridiculously expensive, as are vehicles, and jobs these days are paying pathetic wages with virtually no benefits. I would love to go and work a job that would get me out of the house more often. However, until my son is a bit older; this is the plan.
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  20.  @endofjourney665  I don't understand your analogy. Socialism is quite literally when government institutionalizes the private market with a series of wealth redistributions. Bootstraps for the poor; socialism for the rich. A considerable amount of progressives have the same criticisms of the US government. It's not so much a criticism of economic theories, but rather an identification of hypocrisy and corruption.
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  21. 2020! Crypto, media influencers, and home flippers. Pair that with 0% interest rates and you get an economic disaster!
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  22. Inflation being at a three decade high is a simple comparison of numbers. Inflation adjusted, the US has 'never' experienced this level of inflation in it's history. Inflation is around 52% since January of 2020. This means that (without a raise) you lost roughly 1/3 of your income value.
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  23. It's because the model that we live in has been sold to us as something OTHER than what it is. I came up with a very simple explanation of our economy; service, production, and legal gambling. I think everybody could easily classify jobs using this little classification. It shows you how screwed up this system really is.
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  24. Not exactly; most people have nothing even close to the material abundance of the early 2000s. I remember growing up in Midwest suburbia. Three cars in every driveway and tons of shit every holiday with endless consumerism. You're forgetting that inflation is up 45% in the last 3.5 years (according to the USD M2). People are realizing that they cannot sustain their future ambitions on the original course. Minimalism is starting to become popular to get ahead.
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  25. In 2019, my girlfriend 'now wife' and I were upper-middle class. In 2023, I can assure you that we are 'simply' middle class. Our income largely hasn't changed.
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  26. What happens when your remote job gets outsourced? Many people are complacently setting themselves up for failure with the remote work mindset. If you company can pay you to work from home; they can also pay an Indian Grad to work from India.
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  27. It has nothing to do with the Internet pal; internet is a medium. It all has to do with access to (cheap-debt) to exponentially grow service industry profits. Only the service you are providing is largely a scam. No wonder the US is becoming a banana republic lol
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  28. If a majority of jobs become service and those service jobs eventually go remote. What's to stop service employers from outsourcing your remote-labor to India or China?
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  29. You will ALWAYS trade your time for money. Refusing to calculate the hours you worked into a potential hourly wage is your choice, but it doesn't negate the fact that it takes effort to create wealth. Effort cannot exist outside of the space-time continuum.
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  30. More like BOTH partners have $200k worth of student loans. That alone would be roughly $4000k a month.
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  31. 'Dislikes' were removed for a very simple reason. The people in charge and their cronies in political office don't like people being challenged. One of the instigating issues was when they got tired of watching their vaccine campaigns get shredded by users downvoting.
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  32.  @jerirasulo9543  I'm sure you can do your own research.
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  33.  @Lack_Of_Interest  ?
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  34. Yep! The noose grows tighter. Eventually, they will cash all their investments out and leave the West for good and put their money elsewhere. This is why BRICS is so dangerous. The USD is backed by nothing while foreign adversaries stockpile precious metals and crypto. Who do you think these investors are going to put their investments with in the next decade?
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  35. It's because they got you by the balls with algorithms. You think algorithms only track 'what you buy' in order to advertise more things for you? They study entire demographics that determine (what people will pay, as well as what people are willing to be paid). They tire-kick with these fake jobs (in order to continue PPP loan forgiveness) and then use the data to undermine your salary needs. Online applications were the worst invention of all time. It allows companies to collect data and low-ball your job specs.
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  36.  @zan1971  Well, I think the obsession with Trump is largest with people that hate him. Most of the people that voted for him (like myself) probably did it for various reasons that include his campaign and new cabinets picks. Also, it seems pretty obvious that the Progressives have no control over their party and the corporate DNC wing is extremely dangerous.
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  37.  @RDewberry  Economic disaster is not caused by a natural reduction in demand; that's just silly. Capitalism is masterful as allowing people to substitute products that are over-priced or under-supplied; that's the entire point. Economic disasters stem from bubbles. Those bubbles are created by bad government incentives. Do you think banks would be giving out bad loans if they know the government wouldn't bail them out? Do you think auto-makers would over-produce and maintain their pricing if they knew they wouldn't get a bailout? All of this perversion comes from the helm of government corruption; as usual. Corporations are predatory because they USE government as a gate-keeper for their profits. What's to fear if all your screw-ups get a slap on the wrist? Big business is ONLY sustainable by big government. If more people understood Price's Law and pareto distributions; this would seem more obvious I feel.
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  38. I saw this problem coming a mile away in 2012 and I was 18 years old at the time. My parents relentlessly pushed for me to go and I ended up getting accepted at Kent State and OSU. I was actually going to pursue Russian Language as my major. The problem was, the debt far outweighed the job prospects and still do to this day. I knew I'd be paying massive amounts of interest for years while my life slipped away. So, instead I attended Community; though I wish I hadn't. I ended up working for FedEx for four years and then pursued my CDL and drove for Anhueser/Werner. At the same time, I settled down and got married, while putting down my savings on a home. To do this day, my parents are still irritated that I ended up with an Associate Degree (that I never used). Yet I'm married, own a home, and have a son. Yet they will continue to praise my sister (indebted for $144,000 for an Art Degree) who has ZERO job prospects and expects them to pay for her debts. Nobody else is going to say it; so I will. Generation X used their children as an investment in their social lives. They couldn't stand the idea of not bragging about their 'highly educated kid' at barbeques just to make themselves look good. I grew up in a middle-upper class neighborhood and this mentality was absolutely rampant. It was ALWAYS about how it made the parents look to their friends and it was NEVER about the kids.
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  39. I don't think people realize how important 2020 was when considering these economic factors. Somewhere between 45-55% of all small business 'nationally' was permanently wiped out. PPP loans bailed out medium and large cap businesses primarily. With a heavy weight of employment being supported by larger tier businesses; this gives them extremely leverage to reshape hiring standard and wages. Especially when there is little competition on the small end. Wages and prices all depend on competition in order to maintain a healthy and balanced economy. Government being used by larger cap businesses as a service for gate-keeping makes it significantly worse. So now you have all of these price bubbles all over the market with older generations maintaining equity with low debt and people under 40 having excessive debt and no equity. The 2020 bailout was probably the worst thing that could have possibly happened in any economic scenario outside of hyperinflation. They have effectively created a feudal state where prices have no incentive to budget because 20% of the population maintains equity in these markets, while the other 80% are debt slaves. The worst part is, a recession would only further impoverish the bottom 80% and the top 20% wouldn't really be affected. So literally NOTHING can be done in order to alleviate people. Considering that high inflation is very likely within the near future, the desperation will only grow for Millennials and Gen X as they are price locked by the equities of Boomers.
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  40. Has nothing to do with capitalism. Money printing, bureaucracy, and bail-outs (elite socialism) have destroyed it.
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  41.  @sir0herrbatka  Deflation is good so long as you don't have debts.
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  42. Welcome to the club! I have a CDL with experience, so the only offers I get are (6 days a week - 12-16 hour days) OR (silence - no call backs). I also have experience with brewing, but apparently no brewery is hiring when we have 'massive amounts of open positions' - my @$$. More like (companies) are committing fraud by posting fake positions so they can fulfill their PPP loan requirements. The 2020s will go down in history as the age of absolute fraud. Not to get political, but it makes sense when your President 'at the time' is known as a con-man; at least in my opinion.
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  43. Blame the system! The Keynesian model allows the Federal Reserve to set ultra-low interest rates to (stimulate the economy). You take out a 1% mortgage or 0% auto-loan like everyone did in 2020 and inflation goes up. Cheap debt = higher demand = higher prices. Productivity/exports that don't grow linear with that inflation = stagnant wages. That's how it works.
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  44. Not really, just a massive demographic problem and poor economic planning on the governments part. Boomers are the largest generation and you have to fund their retirements. Only you can't because your wages are stagnant and there are fewer people paying into the system. Social services payouts are adjusted for inflation; wages are not. Taxes on wages can't keep up with social programs and thus the entire system fails.
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  45. Well, being a high status person in the market and high status partner are not mutually exclusive. If you already have a habit of doing simple housework, know how to cook, and are ambitious with your life goals. A woman is not going to care if you make less money. 'As a husband whose wife makes more than me'
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  46. Yep! Let's not even mention the departure tax. Want to leave the country? You'll pay a 25% tax on all your assets, including a tax on your new real-estate value outside of the country. Freaking nuts!
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  47.  @rohan7969  This^^^! Imagine showing your front and rear to thousands of people; only to receive a few hundred dollars. Then once you run out of time and steam to continue your prospects; your images remain and get spread like wild-fire for all to see and judge. It's a profitable business and if you succeed; you'll lose most of your friends, family, and gain wealth. If you fail, you still lose most of your friends/family, but you'll also lose your dignity and self respect.
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  48. They are (tire-kicking) for their company. Posting fake positions in order to gauge how 'low' they can push wages and outsource parts of that job to other workers for even less. If companies could portion off 100% of each jobs into 100,000 Mechanical Turk tasks; they would do it. In all reality, they've already begun.
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  49.  @thewhitefalcon8539  Big banks don't lose when you become delinquent; they get bailed out lol That's why they give out such risky loans.
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  50.  @VectorAlphaSec  Sign up for CDL school. I went in 2019 and got done in three weeks; cost me $5000 up front or you can finance it thru a parent company. I earned $70,000 starting when I signed onto Werner and drove for Anheuser Busch; home daily routes. That same position pays $85,000 now in 2023. Just a thought :)
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