Long-distance Business Travel and Crisis Preparedness

Guest Post- J. Vanne

I don’t know what the future holds. Nor, in reality, do the elite in Washington, Brussels or Beijing.  Despite the hubris of the planners, the law of unintended consequences, as well as just “plain ol”  human error and ineptitude, will never allow man to create utopia, any more than a man can pull on his own bootstraps and lift himself up to Heaven.  We may be fortunate enough to see a renaissance in the West, much like what Reagan and Thatcher brought to light.  However, there are other indicators that do not bode well: For example, you may wish to review Reinhart and Rogarth’s book This Time is Different:  Eight Centuries of Financial Folly, on the utterly crushing nature of what out-of control debt can do to an economy and society that allowed it.  Or perhaps google work by Dr. Lawrence Kotlikoff of Boston University, who has noted that if all unfunded liabilities in the U.S. were totalled, we are looking at not $16 trillion-ish reddish ink (now up to $17 trillion since I first began drafting this!), but actually $222 trillion. Do (Read More….)

Overloaded with Debt and No Jobs to Be Had

By MN Gordon Economic Prism

The Federal Open Market Committee met on Tuesday and Wednesday.  The masses waited with anticipation.  What did they talk about?

Generally, they talked about price controls.  More exactly, they talked about controlling the price of the economy’s most important and fundamental element…its money.  By controlling the price of money they can influence the price of every single good and service there is.

Some believe this is for the good of the people.  That it will somehow boost consumption and stimulate demand.  That it will create a new hiring boom.  We have our reservations.

When it comes to the Fed, they believe – or at least pretend to believe – that with just the right policy mix the economy will be restored to glory.  But what’s the right mix…and how can a handful of bureaucrats with a handful of charts ever know what it is?

After several days of belaboring (Read More….)

The Less-Than-Glamourous Costs Of A Medical Education

MDs will continue to be perceived as a well-paid group. Even “underpaid” general practitioners are very likely to be envied for their income by people outside the medical professional. This image will apply, to some extent, only to those who establish themselves as MDs. Students who do not complete all MD education requirements will be saddled with tremendous debt, typically without correspondingly high income. The image of the wealthy MD will remain with some merit, but it will gloss over very real and significant costs and risks for existing, and especially prospective MDs.

Implicit Costs

Medical doctors need to commit at least seven years, maybe as much as ten or eleven, to hefty student loans and low pay during schooling. Assuming an average salary of $45,000 for at least seven years for an undergrad who forgoes med school, an MD’s wealth is implicitly $45,000 x 7 = $315,000 in the red when starting out.

Supply and Demand

The BLS estimates physician demand to rise significantly faster than average through 2020, with especially strong job (Read More….)

Future Shock And Our Jobs . . .

Authored By Dave Webb

In the printing business, we had an over scale position($5 a day over scale in the 1950s). That is equivalent in today’s currency to $50 a day over scale. No one ever made $50 a day over scale while I was there. Instead the money disappeared as our business changed.

Marking up advertising from sales people’s layouts was a kind of mechanical engineering. My mentor in this part of the trade was a man who knew his type so well, he could give it the proper markup in his sleep. He could literally visualize what it would look like as a finished product.

This was hot type. It was done on linotype machines. If he made an error it cost the company money to get it right. That was why very few printers ever became markup men in advertising.

Because this man was my friend, he went out on a limb and taught me that part of the trade the right way. Most apprentices did not learn it well enough to become markup men.

Later on, the business changed again and again, and each time the skill level to do this markup was reduced. Eventually we built ads on lcd monitors (Read More….)

Struggling to Find a Job? Truck driving Is A Viable Option

With millions of workers actively seeking employment, finding a job can prove to be a difficult obstacle in today’s economic climate. Competition for positions is heightened, due to unprecedented unemployment figures, and many businesses are no longer hiring. In spite of this unwelcome news, some companies continue to seek out dependable and responsible workers. In fact, many trucking companies are continually hiring drivers for their fleet of vehicles. In addition to providing job candidates with a well-paid and interesting job, truckers often have many opportunities to work overtime and receive additional compensation for their labor.

Exploring the Benefits of Trucking Positions

Working as a truck driver can be a fulfilling and interesting career choice. Many truckers cite their constant movement as the perfect remedy for boredom. Unlike office workers who spend their days trapped in tight cubicles with their colleagues, semi-truck drivers instead have the chance to hit the open road. For those who have never had the opportunity to see different parts of the country, truck driving can be a fantastic way to (Read More….)

Why There Are No Jobs

What a week.  On Tuesday the DOW finished the day at 13,279, its highest close since December 2007.  In terms of the stock market, we’ve crossed the great divide…December 2007, remember, was pre-financial crisis.

In fact, it was nearly a year before Lehman Brothers vanished from the face of the earth and black swans relentlessly descended upon the LIBOR like common ravens upon fresh Southern California road kill.  If you recall, when the sky was falling in late 2008, spread movements that were statistically not possible in a million years, somehow, happened every day.

Money market shares of the Reserve Primary Fund did the impossible…they broke the buck – falling to $0.97 cents a share.  Still, while the stock market may be back to where it was over four years ago, the world is dramatically different…

For one thing, back in December of 2007 you could buy a 10-year Treasury Note yielding 4.23 percent.  Today the 10-year Note Yields less than half that.  Of course, December 2007 was before TARP, CPFF, MMIFF, TAF, ZIRP, QE, QE2, Operation Twist, and all sorts of other harebrained schemes were put into (Read More….)