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U.S. unemployment rate will get worse, Treasury's Mnuchin says


webfact

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4 minutes ago, Sujo said:

Deven Nunes also told everyone to to restaurants and enjoy. Trump said it was all under control and was a hoax. But i understand you, was silly to believe the president.

 

I went to Chinatown with Pelosi and ate dim sum and then straight back to her Subzero for some elitist ice cream. Whatever this is all backwards thinking. How would you make NYC work with a downgrade on your credit rating to junk, and 20% of your tax revenue? 

 

Thats the question. You interested in buying some federally tax exempt municipal bonds?

 

Edited by Cryingdick
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18 minutes ago, Chomper Higgot said:

You do know that most ‘coding’ work has been ‘off-shored’? 

 

 

 

That's funny because my husband works as technical consultant/advanced logistics engineer for Fed Ex. They bring people from India in particular. Almost 90% of the in house tech is foreigners. My husband included. It would be hard to say the word google without wobbling your head involuntarily.

 

It is becoming universally accepted that flying is a dangerous, expensive wast of time and the work at home culture is exploding. In the future maybe jobs will be outsourced this way however one of the great things about that is the candidate with the most merit will win instead of where you are a citizen from. 

 

People from India don't tend to feel sorry for themselves, have yachts to sail their stolen childhoods away and hate anybody with a bit of prosperity

 

Fed Ex: We run the tightest ship in the shipping industry.

Edited by Cryingdick
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23 minutes ago, Chomper Higgot said:

You do know that most ‘coding’ work has been ‘off-shored’? 

 

????

 

Biden tells coal miners to "learn to code"

 

Quote

During a rally yesterday, Democratic presidential candidate Joe Biden spoke to a crowd in Derry, N.H., a town that many miners call home. He acknowledged the economic setbacks and job insecurity that coal miners face these days, and gave them some advice: learn to code.

 

According to Dave Weigel of the Washington Post, Biden said, “Anybody who can go down 3,000 feet in a mine can sure as hell learn to program as well... Anybody who can throw coal into a furnace can learn how to program, for God’s sake!” 

 

According to Weigel, the comment was met with silence from the audience. 

https://thehill.com/changing-america/enrichment/education/476391-biden-tells-coal-miners-to-learn-to-code

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3 minutes ago, Chomper Higgot said:

Ask your husband where the bulk of the ‘coding’ (most likely configuration) is being done.

 

The control systems for which I am and have been the lead design engineer are almost entirely coded/configured in India and Eastern Europe.

 

That’s not about to change.

 

They do their trade secret coding and proprietary structures on a mainframe not connected to the internet using really old operating systems. All code sourced outside of a place with particular security clearance is scrutinized byte by byte. What your are saying isn't allowed at that level that's why companies like Okta, Crowdstrike and RingCentral are swollen so much now 

 

I know some of this because my husband works from home for one of the largest logistics companies in the world. They had many problems just working remotely here they don't send their data through China. At least not anymore. LOL

 

 

 

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5 minutes ago, Chomper Higgot said:

I said ‘most’ not ‘all’.

 

The small amount of sensitive coding does not create the number of jobs required to perform the bulk of coding.

 

Coding is not in and of itself going to fill the millions of lost jobs.

 

The bulk of bad coding is what my husband condenses down through security protocols to make using of anything from a foreign country even viable. But nothing gets inside without his say, soon most cases you just use a library of stored code with in the mainframe and don't add much to it because it have to be vetted.

 

You can see because it is Fed Ex there are many sources of expertise involved. Letting low quality workers into your inner core is not one of them. Nor is outsourcing for no apparent reason to save $5.

 

It doesn't happen at Apple or Google, Amazon etc. These companies have the best budgets for good people and resort to poaching the best minds from each other 

Edited by Cryingdick
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6 hours ago, webfact said:

But, Mnuchin said the federal government did not want to bail out states that were "poorly" managed.

It would appear the entire establishment is being mismanaged! Keep breaking those historic records, Donzo!

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6 hours ago, webfact said:

The staggering U.S. unemployment rate reported by the government on Friday amid coronavirus lockdowns may get even worse, Treasury Secretary Steven Mnuchin said on Sunday.

Not only due to the lockdowns but also the crazy trade wars that will only hurt US. The Phase 1 of the trade deal is not holding up and are hurting the agriculture sector hard and wouldn't be coming back for a long while. The disruption of supply chain will meant a long period of adjustments that will affect the operations of companies. Inflation will kick in with expected higher prices from tariffs and supply shortages. Cutting payroll tax is ripping bare the wounds of struggling poor and middle class.

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8 hours ago, Bluespunk said:

Playing politics with the pandemic. That’s low,,,

Mnuchin simply states the truth. As for politics, this weeks developments are almost the final nail in Dem coffin. As I was saying before the 21 day vacation imposed upon me, and months before that, the Democrat party of the USA will not survive 2020! Welcome me back!!!

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2 hours ago, spidermike007 said:

How on earth was this guy selected for this job? This is true BOB (bottom of the barrel) recruiting. 

 

DUH! A six year old could have told us unemployment would get worse. We need this guy for that? The guy who evicted thousands of grandparents from their homes because they were two months late on their mortgage during the last financial crisis. An ethically bankrupt man, would be a kind description of him. 

He is sharp as a tack. And had the results, and will get them back again. Root for his success, it's in your best interest!

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3 hours ago, Eric Loh said:

Not only due to the lockdowns but also the crazy trade wars that will only hurt US. The Phase 1 of the trade deal is not holding up and are hurting the agriculture sector hard and wouldn't be coming back for a long while. The disruption of supply chain will meant a long period of adjustments that will affect the operations of companies. Inflation will kick in with expected higher prices from tariffs and supply shortages. Cutting payroll tax is ripping bare the wounds of struggling poor and middle class.

Crazy trade war? China better get their act together. Their about to get reset backward!

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8 hours ago, pegman said:

Well Dick, your crying about New York but it contributes more to the Feds than it gets back. A place like deep red S. Carolina on the other hand take back nearly $8 for every $1 they contribute. That's a lot of sucking by ole Lindsey.

 

https://www.theatlantic.com/business/archive/2014/05/which-states-are-givers-and-which-are-takers/361668/

Crying's WV, a very deep red, is the tenth. What does that say!

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18 minutes ago, WalkingOrders said:

Mnuchin simply states the truth. As for politics, this weeks developments are almost the final nail in Dem coffin. As I was saying before the 21 day vacation imposed upon me, and months before that, the Democrat party of the USA will not survive 2020! Welcome me back!!!

No, he’s playing politics. 

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12 minutes ago, candide said:

Exactly. V

"If you listen to Rush Limbaugh, you might think it was those blue states, packed with damn hippie socialist liberals, sipping their lattes and providing free abortions for bored, horny teenagers.

The truth? Not so fast, Michele Bachmann.

As it turns out, it is red states that are overwhelmingly the Welfare Queen States. Yes, that's right. Red States — the ones governed by folks who think government is too big and spending needs to be cut — are a net drain on the economy, taking in more federal spending than they pay out in federal taxes. They talk a good game, but stick Blue States with the bill."

http://www.businessinsider.com/red-states-are-welfare-queens-2011-8#!IpqnG

 

Again, WV top five!

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