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Productivity in the United States posted its largest drop in United States history, during the second quarter of this year.
Now considering the fact that we’re officially in a recession, we’ve got record breaking inflation every single month, the central bank who’s in between a rock and a hard place on deciding whether to tighten, or to ease and soften the blow on the economy.
This is not a good sign that we’re seeing productivity drop like this, because an increase in productive output would be the only way out of this mess, pain free. ..
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0:00 Video Overview
0:39 Intro
0:46 Sponsor: Swan Bitcoin
1:39 Why Productivity Matters
4:29 Increasing Your Productive Output to Pay Off Debt
8:48 Artificially Intelligent Robots
11:05 Outro
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Of what use are humans if they serve no purpose but to consume. Far fewer are needed to service the elites and do the jobs robots can't do.
the trick is: unemployment is going down percentage wise because the labor participation rate is dropping lower than ever. the unemployment rate is calculated based on the pool of able adult workers, excluding children, seniors and disabled. and Joe i know you comprehend this already, hear me out.
quick math: if 10 people lived in the same house, on average, right now only 6 are in the labor force AKA can work and are seeking work. if unemployment is at 16%, then 1 of those 6 able workers is unemployed, while the remaining 4 don't work or have a career. then if the labor participation rate drops to 50%, but unemployment drops to 0%, you STILL only have 5 people working and 5 people sitting at home not working. 50% productive output.
the solution is a natural progression of children reaching adulthood and gaining skills to become employed. you obviously cant force disabled, elderly or children to go to work now and fix this in the present.
its like planting a seed and waiting for a plant to grow over time. learn new skills and stay employable but also enjoy life.
God bless
I picked up a side hussle and use the extra income ONLY to pay down a credit card we had to use for an unexpected expense. I didn't touch our emergency cash. This seems to be working without affecting our normal budget.
You have sold out
Yet the the SP is gaining massive momentum while inflation still sits at a legendary 8.5% . Further proof the market remains out of touch with reality and real numbers.
I just finished reading Outliers. In it, he explained that 20% of the world's top billionaires in the 1900s were all born in the US between 1830 and 1835. He explained that it was a statistical anomaly and that the reason was massive societal changes during the civil war, 1865, that allowed them to capitalize on them as they were in their prime working age of 30-35. About Fourth Turnings, that was one then. We are in one now, we have been for over a decade. As a 35-year-old who isn't 45 and vested in the old Ponzi schemes, housing, stocks, bonds, and SS, I can capitalize on the destabilization of remonetizing money with my full potential. A 25-year-old is not at a high enough earning potential to make major investments. This is literally the opportunity of a lifetime. And if you believe in The Sovereign Individual, this is the opportunity of five centuries. The world will change in less than 10 years and one has to only see covid 19 to see that governments don't care about your safety. As they realize they don't have the money for pensions they promised everyone they will eliminate their liabilities. Unfortunately, those liabilities are you and I. Think for yourself and put yourself on the Bitcoin Standard! I buy and just trade long-term more than ever, I have made over 17 BTC with just 3.5btc from trading with Expert Kyle Miller in a few weeks this is one of the best mediums to backup your assets in case it goes bearish. <You all can reach Expert Kyle on ͲeIєɠɾαm KyleMiller3 OR WhatsApp✙17242680356 Remember to share your experience with others too.
Wrong if productivity goes up politicians will steal more. The way forward can only be paved by the c0rpses of de@d communists.
You are the first person to have mentioned the word "robotics / automation" to combat inflation. All this time I was wondering why no one else is talking about automation. Because of De-globalization, the world has no weapon to fight this High inflation. Automation is our only hope for Redemption from this inflation
The drawback to your ending hope is we won't have the power to run those robot factories.
I disagree! Because of all the debt the fed will be unable to win the fight with inflation even with rates at 5-6%. Basic economics (and the IMF) says rates need to be 1% higher that the rate of inflation. The fed can choose between bankrupting the govt (and economic depression) or hyperinflation – hence that's why we are in a financial crises. The govt will loose power with either option. With all the continued govt spending it's already obvious what the fed choice will be.
Encouraging speculation is not a good way of increasing productivity, so as inflation.
Feeding the YouTube algorithm. Great video.
Food for thought
Great video Joe. 50 dollar cars would be great but they would need to be made out of pure cellulose. Of course then gas would be 50 dollars a gallon. It’s all about energy. Without energy there is no economy.
The sin of wages? The first thing you realize when you move from employee to being self employed is that time is worthless? What? Heresy!
Time is worthless. Productivity has value. If you're efficient at using your time productively, you will be successful at breaking the ever employed bond and the fable of "time is money".
It is no longer a story that the world is experiencing a global economic downturn, I’m so happy that I’ve been receiving $45,000 from my $10,000 investment every 10 days.
While I agree with everything your saying, don't expect this to effect the stock market, after 2 covid v shape rallies its obvious the market isn't effected by anything but the whales wanting to sell at the top
Excellent job
2% productively drop. It happened also with about 2% in 1974 and 1992. So it's not unique.
In 1974 it was the oil price shock. Arabs increased oil price because the dollar shrunk, it was not the other way around.
In 1992 the whole world had a recession, housing crash and a stock crash (in real money) but why did productivety go backwards? I don't know.
In 1992 they changed all statistics. Big changes in statistics for nominal GDP, for inflation, unemployment. They wanted the world to look better. The Soviet Union collapsed and the world kickstarted Globalization. More trade. Move production. Increase immigration to white countries. Se4vicd sectof economy. More debt in all four sectors (government, banks, corporations and individuals). Create asset bubbles. Increased M2 via more loans to corporations and individuals, a larger banking sector although the banking sector almost destroyed the world 1991.
Productivety drop 2022? Covid? More stupid people? Stupid economic politics? End of Empire? End of a long cycle?
I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN…I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED… CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?
In order to increase productivity, we need an energy revolution, it's the corporations that are reducing productivity due to energy prices, and demand is reducing because of inflation. The combo is a downward spiral into depression.
7:39 can we sell half our overseas military bases to china? because if we don’t sell them, we might end up losing them in a war
Lol you messed up bro
He's add is way to long.
Honestly man, you’re such a doom and gloomer. You’ve probably been wrong for years and occasionally correct. Even a broken clock is right twice a day. Still, your content is also good. Just don’t be so biased
The reason I use swan bitcoin is blah… blah… blah….
I’m good with inflating away my fixed rate mortgage tho?
Kind of reminds me of a good read I came across some years ago, “The Birth Of Plenty”.
Economies don't recover on hyper centralized systems like we have had since 2008, that's why the FED miracle won't happen.
Cars use basically the same old principle than 50 years ago, same with homes, same with food production, while today people can't afford shit with a regular salary after more than 50 years of technological improvements
I told u Bitcoin Solana and Etherium up
Tell up too.
Load of BS US productivity has been extremely high for decades, the issue is that this productivity increase has never translated into high distribution of profit to the people who made those productivity increases, instead these profits were spent on share buy-backs, executive bonuses, and offshoring manufacturing, the great policies of multiple administrations over many decades to take advantage of low income economies, who have become better at manufacturing than the US. The US Government hasn't spent money on improving infrastructure or education, US corporations haven't spent enough on R&D. The US hasn't pursued a Non-debt based finacial system. which is the only way to create a low tax, low cost manufacturing sector. The US never had Income tax on wages. or an IRS prior to 1914. why not? due to the US not having any debt prior to the US bankster cartel taking over the US financial system, aka the Monster from Jekyl Island, authored by G edward Griffin. Debt and corporate bankster cartels are the primary problems with the economy. As the US was warned by many founding fathers and early presidents. Post 1914 all US politicians have been functioning in a corrupted system.
But the housing market isn't going to pop?
Must be bullish lol
Unfortunately the " Big Government" machine precludes increases in productivity as defined….
As always your main premise is spot on. Productivity increase is the only way out. Artificial Intelligence will help increase productivity. Here comes the but. The increased use of computers for gaming, propaganda, and social media reduces human interaction with the real world. Worse the lies and miss representation of facts drives solutions to problems that don't exist leaving real problems un-attended. At this time artificial intelligence does not have the ability to reason through a problem to come up with a new out of the box better solution. I have several patents. When ask how I came up with the ideas for the patents I explain that I worked hands on to resolve the issues the patent addresses. If society is playing video games, spreading lies about oh say climate change being man made, or spending all their spare time on social media there will be fewer hours spent hands on real world work. The chance of someone seeing a need to be filled to further productivity increase will go down. This is where we are today in the USA. Further, with the government picking winners and loosers money will be allocated on non productive businesses. See Solyndra. Of course industry will follow the money even if it is being allocated toward the wrong investment, solar and wind as examples. Government expenditures in one area artificially signals to industry a need to develop in that field, spend capital dollars . Because the free market did not willingly move toward the area by supply and demand a false signal is being given to industry to invest in the area supported by the government. The new Chip Incentive Bill is a classic example, as was the solar incentive, of the governments wrong headed approach to an issue. There is a reason Taiwan Semiconductor Mfg. Co. Ltd, TMSC, is the worlds leader in the latest generation of semiconductors. It is due to USA government and union suppression of investment in semiconductors. My guess the investment in capital expenditure will be poorly utilized as the cause of the move to overseas production facilities was not addressed in the new bill. P.S. Off and on, you allude to the way companies determine what they should spend capital dollars on. A good video would be on how the government expenditures in favored industries influences capital expenditures, over what would have been spent if supply and demand with allowed to be the guide. There is a WEB channel that does have a cartoon that discusses the problem but I think your insights would be helpful.
It is recommended that we all read YouTube Maxojir and PeakOilNews. The study of the climate change, overshoot and interlocking issues leads to scarcity of critical energy and materials. These interlocking issues that will determine all are fates like depicted in videos by the Climate Emergency Forum, Great Simplification with Nate Hagens as Professor Guy McPherson always reminds us that Nature Bats Last. These issues are based on physics and life sciences that undergirds all the less important economic issues.
People today are lazy and productive people aren't rewarded.
As soon as we get the AI super robot future set, the sun will release an emp bigger than the Carrington Event and fry all electronics on the planet.
My opinion is people I work with are quite content with me carrying the load. So productivity could be much better but its easier to have me do the extras to carry the department. The way it is in US. Work ethic amoung people younger than me is crap.
At least there is something to agree on. Productivity is the answer
"Why produce more, or come up with a balanced budget, just hire 87,000 armed thugs to steal it from the cold, tired, hungry, huddled masses?"- U.S. government
Automation will facilitate the reduction of non-essential people.