6 ms·

The Fed is strictly against labor, even by their own statements as well as Powell's own words numerous times. Their plan is to depress wages [1] and remove powe

The Fed is strictly against labor, even by their own statements as well as Powell's own words numerous times. Their plan is to depress wages [1] and remove power from labor component of the economy. If any indication is correct, then the most recent tech layoffs are a compliance move to the fed's goals (^a). It's not a willing situation out of lack of care, when the will is strictly antagonistic. [1] https://www.bloomberg.com/news/articles/2022-03-17/powell-treads-tricky-path-in-saying-wages-are-rising-too-fast https://www.bloomberg.com/news/articles/2022-03-17/powell-tr... ^a, I'm willing to forgive some tech companies because it was a deliberate twist of the arm by raising rates.

toomuchtodo 4y ago
The Fed might believe they are adversarial against labor (I’m aware of Yellen’s and Powell’s labor comments during their tenures as Fed chairs), but they have an uphill battle against structural demographics and an inverse population pyramid. Tech layoffs are Capital dictating to management to improve profits. If you don’t like it, unionize (dead serious). To not do so means continued powerlessness and to be at the whims of billionaire fund managers whining about their fund performance. Even with the total tech layoffs this year and last (~250k per layoffs.fyi), that’s one month of US added payrolls. I understand they’re not equivalent roles and pay, but I suggest taking it into consideration as a macro sign. It’s not 2001 or 2008.
- latency-guy2 4y ago
  The US does not have a true inverse population pyramid, it is only true for the next few years, maximum 10 years. The Fed is fully aware of this, pushing off too much capital to the generation with the least amount of labor is terrible idea for their goals. The US is also fully positioned to mitigate the effects of the thinning labor market to a place where we are minimally impacted by depressed growth by way of immigration, strategic investments in silicon, semiconductors, the complete demographic collapse of China that is currently underway, and numerous other items including a strengthened relationship with the EU. The US, and further the Fed have little to worry about by way of demographics. Tech layoffs consist of more than 'Capital', significantly more. 'Capital' is not reacting out of pure hatred for labor either, they are reacting to a specific phenomena, which is the Fed swiftly raising rates.
- unity1001 4y ago
  > The Fed might believe they are adversarial against labor (I’m aware of Yellen’s and Powell’s labor comments during their tenures as Fed chairs), but they have an uphill battle against structural demographics and an inverse population pyramid Don't rationalize and defend top-tier sociopathy like this. These people say what their intentions are, openly declare that they will do what they intend to, and they do it. At this point, there is no objective conclusion that can be reached other than these people waging a war against the majority of the people for the benefit of minority capital.
  - toomuchtodo 4y ago
    Janet Yellen is 76, Jerome Powell is 69. Does it do good to rail against folks who only have another 5-10 years of life expectancy? They are who they are, they will not change. No. Focus on building systems to arrive at your desired outcome. I am entirely serious when I suggest unions and organizing; it is the only civil solution against tyranny at the top.
    - unity1001 4y ago
      > Does it do good to rail against folks who only have another 5-10 years of life expectancy This has little to do with actual individuals. When those go away, they will be replaced by those of the same ideology by those who put the current ones to those places. This is an ideology. > I am entirely serious when I suggest unions and organizing; it is the only civil solution against tyranny at the top. Hopefully. History shows that when things come to a head, the elite does not hesitate from using violence at any cost. That was how the fascist movements came to being - as 'strike breakers' for private industrialists. Then they were funded and politically backed by those industrialists to have them become 'movements'.
culopatin 4y ago
Saying that wages are growing too quick for what the economy can sustain and being anti labor are not the same to me. Why do you read the layoffs as a compliance move instead of a symptom of what the Fed saw coming? If I follow what you’re saying, if the Fed hadn’t made the comment the layoffs wouldn’t have happened? If I tell you that you might cut yourself by juggling with knifes and then you do, did the knife comply to my request or I just simply called it due to my observation?

toomuchtodo 4y ago

The Fed might believe they are adversarial against labor (I’m aware of Yellen’s and Powell’s labor comments during their tenures as Fed chairs), but they have an uphill battle against structural demographics and an inverse population pyramid. Tech layoffs are Capital dictating to management to improve profits. If you don’t like it, unionize (dead serious). To not do so means continued powerlessness and to be at the whims of billionaire fund managers whining about their fund performance. Even with the total tech layoffs this year and last (~250k per layoffs.fyi), that’s one month of US added payrolls. I understand they’re not equivalent roles and pay, but I suggest taking it into consideration as a macro sign. It’s not 2001 or 2008.

latency-guy2 4y ago
The US does not have a true inverse population pyramid, it is only true for the next few years, maximum 10 years. The Fed is fully aware of this, pushing off too much capital to the generation with the least amount of labor is terrible idea for their goals. The US is also fully positioned to mitigate the effects of the thinning labor market to a place where we are minimally impacted by depressed growth by way of immigration, strategic investments in silicon, semiconductors, the complete demographic collapse of China that is currently underway, and numerous other items including a strengthened relationship with the EU. The US, and further the Fed have little to worry about by way of demographics. Tech layoffs consist of more than 'Capital', significantly more. 'Capital' is not reacting out of pure hatred for labor either, they are reacting to a specific phenomena, which is the Fed swiftly raising rates.
unity1001 4y ago
> The Fed might believe they are adversarial against labor (I’m aware of Yellen’s and Powell’s labor comments during their tenures as Fed chairs), but they have an uphill battle against structural demographics and an inverse population pyramid Don't rationalize and defend top-tier sociopathy like this. These people say what their intentions are, openly declare that they will do what they intend to, and they do it. At this point, there is no objective conclusion that can be reached other than these people waging a war against the majority of the people for the benefit of minority capital.
- toomuchtodo 4y ago
  Janet Yellen is 76, Jerome Powell is 69. Does it do good to rail against folks who only have another 5-10 years of life expectancy? They are who they are, they will not change. No. Focus on building systems to arrive at your desired outcome. I am entirely serious when I suggest unions and organizing; it is the only civil solution against tyranny at the top.
  - unity1001 4y ago
    > Does it do good to rail against folks who only have another 5-10 years of life expectancy This has little to do with actual individuals. When those go away, they will be replaced by those of the same ideology by those who put the current ones to those places. This is an ideology. > I am entirely serious when I suggest unions and organizing; it is the only civil solution against tyranny at the top. Hopefully. History shows that when things come to a head, the elite does not hesitate from using violence at any cost. That was how the fascist movements came to being - as 'strike breakers' for private industrialists. Then they were funded and politically backed by those industrialists to have them become 'movements'.

culopatin 4y ago

Saying that wages are growing too quick for what the economy can sustain and being anti labor are not the same to me. Why do you read the layoffs as a compliance move instead of a symptom of what the Fed saw coming? If I follow what you’re saying, if the Fed hadn’t made the comment the layoffs wouldn’t have happened? If I tell you that you might cut yourself by juggling with knifes and then you do, did the knife comply to my request or I just simply called it due to my observation?