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A comment on Fewer young men are in the labor force, more are living at home. Parent comment

Re:Fewer young men are in the labor force, more are living a... by paulpauper on Friday June 11, 2021 @07:21PM (#27479702)
Millions of jobs were lost due to Covid, many permanently. This was on top of jobs lost in 2008-2010. Each wave permanently removes a bunch of people from the workforce. Pre-2008 it was easier for the unemployed to rebound and find work even without advanced degrees or advanced skills. Not anymore. So there are a lot of people not contributing, either on disability , living with friends or parents, or on some form of welfare. Yet, in validation of MMT, as evidenced by low inflation, low treasury bonds yields, and the strong dollar, supporting these people is not as economically prohibitive as originally believed. The US economy has surpassed the rest of the world since Covid and since 2008 in spite of a lot of people not contributing. A single Bezos or Musk in terms of econ productivity is equal to millions of low-contributing people. In an ideal world, maybe everyone would contribute, but that is not the world we live in.
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Re:Fewer young men are in the labor force, more are living a... by dtwest on Friday June 11, 2021 @07:35PM (#27479813)
How is that in validation of MMT?

We ran a huge deficit this year supporting the economy during covid. We are also seeing a spike in short term inflation and a weaker dollar. Treasury bond yields remain low but there is increasing speculation that decades of low rates could soon reverse.

Also are you attributing all value generated by Bezos's or Musk's companies to only them? What about all of the great people they employ?

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Re:Fewer young men are in the labor force, more are living a... by paulpauper on Friday June 11, 2021 @08:15PM (#27480073)
Even in spite of all this Covid spending, the US dollar is only back to where it was in 2018.

https://www.cnbc.com/quotes/.DXY

Short term inflation is rising, but this has more to due with supply and outputs being constrained due to Covid and inflation rising from an abnormally low base. Many pundits and experts underestimated how quickly things would come back, even with the help of stimulus. I think having rising inflation and a booming economy is preferable to a weak economy and low inflation.

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Re:Fewer young men are in the labor force, more are living a... by gowld on Friday June 11, 2021 @08:22PM (#27480111)
Bezos has, what, $200B of total wealth? Divided a million ways makes $200K, a nice nest egg but not a lifetime of freeloading.
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