Wall Street

[thetruepandagod]

The only economics I ever understood was that you should never buy a wolf apples, unless you have a load of furs.

Also for any of the extremely econ illiterate, money for nothing is a fairly good documentary on Hulu right now. Def worth checkin out.

[kuronosan]

I'd rather watch the chicks for free.

[archibaldcrane]

Why would we raise rates right now? There's no inflation to speak of, hell there aren't even any wage increases in this recovery. It's not like the economy is a juggernaut at the present or has much threat of becoming one in the near future.

Quantitative Easing ended almost a year ago, so it's hard to argue that the market is being aggressively propped up by anything happening in the US right now.

That's the thing about this pullback in the market - it has basically nothing to do with the US. Investors fear a China slowdown, and China is a huge world economy.

[Buffy]

The only reason I see to raise rates at the moment would be to help create a buffer against slowdowns in the future. Right now, as I understand it, there is nowhere lower for rates to go. If there was a slowdown, they couldn't lower rates in an attempt to help things along. By raising rates now, while things are average (certainly not gangbusters), you help to create some buffer for when needed in the future.

[Andalusian girls]

Why would we raise rates right now? There's no inflation to speak of, hell there aren't even any wage increases in this recovery. It's not like the economy is a juggernaut at the present or has much threat of becoming one in the near future.

Quantitative Easing ended almost a year ago, so it's hard to argue that the market is being aggressively propped up by anything happening in the US right now.

That's the thing about this pullback in the market - it has basically nothing to do with the US. Investors fear a China slowdown, and China is a huge world economy

for the record i'm not an ardent (New)Keynesian (more a Chicago kid that would see the monetary supply increased at a mathematically consistent and steady rate) and in the history of the fed manipulating the money base find they have exacerbated crises more often than they have remedied them, but if one is to follow the man's model-

the Fed's ultra-low federal funds rate has depressed the returns of government securities to near-historic lows, especially in the midst of an economy that has been growing for 6 years and is now at or near full employment. investors have been compelled to seek higher yields in the stock market as saving has been so strenuously discouraged and money market funds have been crushed. this, as much as anything, has resulted in the present stock bubble we are witnessing which all metrics point to as being grossly overvalued.

i concur inflation is presently not a grave concern, though in the past 12 months wages have increased by 2.1% which when coupled with the economy being near full employment suggests a rise in inflation is probable, but the primary concern is that we are once more riding a financial tiger that everyone recognizes but no one is willing to tame. and indeed as Buffy points out keeping rates at such abnormally low levels during a period of growth, even meager 2% growth, ensures that they will have no tools with which to combat future decline.

[Buffy]

Whoah, let's be careful how we throw around "at or near full employment". There are still a huge number of people who have stopped looking for jobs that haven't returned to the workforce and there are issues with getting them to start looking again.

[Andalusian girls]

the labor force participation rate is slightly lower than the historical norms of near full employment after you adjust for the demographic shift of baby boomers retiring and the increasing number of college students delaying entry, but only slightly. it was not my intention to discount those who have ceased looking for work, as the Labor Department's official statistic always has, but even in both articles you link there is at least the suggestion that most of the remaining formerly employed workers who have ceased looking will never hold jobs again and thus for all intents and purposes are no longer in the labor force, which is of course simply a recognition of the material damage affected by the 2008 collapse not a moral qualification. and in the context of the discussion The Federal Reserve has publicly stated 5.2-5.5% is what they consider full employment.

[myreality]

Seems like the most appropriate thread.
http://www.deccanherald.com/content/...ion-again.html

Basically stating that were in for a world of hurt in roughly 2-3 years economy wise.

What would you do to mitigate this if your in heavy debt, nearly/about to be homeless, no marketable skills, failing health, shitty low end job, and desperately trying to finish a nursing degree to turn that all around? Hypothetically speaking of course.

[Cantih]

Nothing.
What you're already doing will work, or it wont. If you do it harder, it might be more likely to work, but it still might not.
The only guaranteed solution is to not be in the position in the first place.
That's the way of things.

Understand though, the situation is larger than you. You are not the only person in such circumstances.
Tackle the problem from that perspective, and you may find your way to a solution.

[BerenTebogo]

Government job. Anything even menial. Get a job at the DMV or some shit if you have to. Best chance to weather a layoff heavy period if you have no marketable skills.

[dasva]

Shouldn't you be able to finish said nursing degree by then? Sounds fairly marketable. There's always going for promotions to make your shitty job less shitty

[myreality]

Shouldn't you be able to finish said nursing degree by then? Sounds fairly marketable. There's always going for promotions to make your shitty job less shitty

Might not finish for some time due to outside influences and money. Can't take out student loans due to being stupid with my class back in 2007-2009. So have to scrounge for grants and such. Let's add that even though I passed this semester of classes my grades are not competitive enough to compete for a position in the nursing program. To much to do not enough time.


Thanks for the tips, it really comes down to my abilities to adapt. Can't do anything more.

[Tyche]

I don't mean to be the bearer of bad news, but if you're having difficulty in classes that are required to get into the nursing program, you're going to bomb the actual program. Nursing school is hard. Really hard. Granted, I could only compare if to two other programs I went through, and it was more difficult than both (pre-law and social science secondary ed). Typically the grading system for nursing school is more stringent than generic degrees, they also typically have rules to toss you out if you fail (read, get a D) on more than two tests, or if you screw up in clinicals. They'll also toss you if you fail skills. Attendance is also strict, so if your health isn't on par, it may make it difficult. On top of that, nursing has a ceiling salary wise, assuming you don't continue on into a masters or doctoral program. If you have crippling debt and failing health, it may be better than nothing, but not the best choice. Granted, there's not a lot of 2 year associate degree programs that will pay upwards to $70,000 and $80,000 a year right out of school, don't expect to hit 6 figures very quickly or easily unless you put in some OT or get an advanced degree.

[archibaldcrane]

While it has no bearing on your prospects or your degree, keep in mind that predicting economic performance more than 6 months out is a fool's errand. No one can do it even remotely reliably.

tl;dr don't worry about that article

[myreality]

I don't mean to be the bearer of bad news, but if you're having difficulty in classes that are required to get into the nursing program, you're going to bomb the actual program. Nursing school is hard. Really hard. Granted, I could only compare if to two other programs I went through, and it was more difficult than both (pre-law and social science secondary ed). Typically the grading system for nursing school is more stringent than generic degrees, they also typically have rules to toss you out if you fail (read, get a D) on more than two tests, or if you screw up in clinicals. They'll also toss you if you fail skills. Attendance is also strict, so if your health isn't on par, it may make it difficult. On top of that, nursing has a ceiling salary wise, assuming you don't continue on into a masters or doctoral program. If you have crippling debt and failing health, it may be better than nothing, but not the best choice. Granted, there's not a lot of 2 year associate degree programs that will pay upwards to $70,000 and $80,000 a year right out of school, don't expect to hit 6 figures very quickly or easily unless you put in some OT or get an advanced degree.

Oh, no worries i already knew the risks and the challenges that i was going to face when i entered into the program. I have a few friends at the end of the program and they look like they aged a bit compared to when they started. I am in the program because i am legitimately interested about being someone who can function in an Emergency type setting (Plan to work in intensive care). I work 40 hours and am trying to juggle everything else while taking two classes per semester, this semester i received an 86.34% in A&P and 93% in Chemistry. A&P needs a higher score since i barely managed a 3.0 in the class (83% was 2.8gpa) and need at least a 3.5 to be considered competitive so i will be retaking that later. The pay is fine with me, trying to do this because its what i want. Life seems to shit on me more each year so digging my way out before i get to tired to try.

lol, i didn't mean to add that last bit to my post when i linked the economy piece. Was drinking and feeling depressed at the time, do not even remember writing it until i woke up this morning. Although i feel better for having people to discuss it with and it helps to put things in perspective.

While it has no bearing on your prospects or your degree, keep in mind that predicting economic performance more than 6 months out is a fool's errand. No one can do it even remotely reliably.

tl;dr don't worry about that article

God i hope not, but considering people have short term memories and nothing was put into place to prevent another collapse like in 2008 I just assumed that the article was explaining the natural course of things. Your right though, the economy is far to dynamic to predict accurately and i should've known better to put to much faith into the piece.

[archibaldcrane]

God i hope not, but considering people have short term memories and nothing was put into place to prevent another collapse like in 2008

uh

you mean except this: https://en.wikipedia.org/wiki/Dodd%E...Protection_Act

It by no means makes the world recession-proof, that would be an absolutely ridiculous claim - but the days of ultra-easy home loans without income verification, pushing people into sub-prime mortgages and mortgage-backed securities rating fraud are pretty much over. There will be another recession, but it won't be from the US housing market collapsing like it did in 2008.

[Tyche]

I have my CCRN and have been working intensive care for quite some time. It's a fantastic unit if you want to learn and consume everything imaginable as a nurse. It's not a unit you want to be emotionally invested in though. It's def a place for rational, critical thinkers. And you need super thick skin, because doctors will eat you alive in the unit. Still, there's no better place to be. There's nothing like a full-code patient circling the drain at 3am. If you ever have questions in school or need help, feel free to always PM me.

[myreality]

uh

you mean except this: https://en.wikipedia.org/wiki/Dodd%E...Protection_Act

It by no means makes the world recession-proof, that would be an absolutely ridiculous claim - but the days of ultra-easy home loans without income verification, pushing people into sub-prime mortgages and mortgage-backed securities rating fraud are pretty much over. There will be another recession, but it won't be from the US housing market collapsing like it did in 2008.

Hmm, completely missed that and never heard it mentioned before. Thanks for the link.

I have my CCRN and have been working intensive care for quite some time. It's a fantastic unit if you want to learn and consume everything imaginable as a nurse. It's not a unit you want to be emotionally invested in though. It's def a place for rational, critical thinkers. And you need super thick skin, because doctors will eat you alive in the unit. Still, there's no better place to be. There's nothing like a full-code patient circling the drain at 3am. If you ever have questions in school or need help, feel free to always PM me.

Absolutely will take you up on that offer once i get closer to finishing the program. I want the skills and the ability to save lives then find a specialty that challenges me. First things first though gotta get into the program, lol.

[Kyreth]

Government job. Anything even menial. Get a job at the DMV or some shit if you have to. Best chance to weather a layoff heavy period if you have no marketable skills.

This. I'm a long-term contractor with the county DOT here, we're DC's next door neighbor which means the odds of me going without a job anytime soon are vanishingly small, short of a total federal collapse. In which case I likely have more to worry about than unemployment.