Friday, June 20, 2014

The Panda Bear on Friday Afternoons and Out of Touch Economists

It is a Friday afternoon.   The Panda Bear feels the work week increases in sneaky ways.   The Panda Bear remembers a time when employers on a regular basis let employees out early on Fridays and the long weekends.   Now the Panda Bear's employers never let their employers out early.   The Panda Bear feels this "bonus" free time could add up to two or three weeks of extra vacation days a year.    The Panda Bear also feels she was a much more enthusiastic worker when employers gave their workers additional time off and seemed to want them to have a life outside of work.    It's karma.  What comes around goes around.   Even the Panda Bear's boss admits that the office nickels and dimes its employees in terms of time.  The Panda Bear feels the heads of the organization set the tone.  If they don't give her anything extra, she won't give them anything extra.   The Panda Bear advises her readers to be careful about give extras to employers; some employers are just takers.   Your above and beyond effort may be a volunteer effort for them.  The Panda Bear has nothing against volunteering; this blog is a volunteer effort.   She just thinks that when one volunteers it should be clear that it is a volunteer effort.

 However, the Panda Bear wanted to draw to her readers attention to an article she found on about how off economists were about the job market.   Indeed the Panda Bear since the Great Recession has started in 2008 the Panda Bear has a hard time believing what was being said in the news about the economy.

 Just this week, the Panda Bear heard on the Wall Street Journal's radio show, one reporter say almost in despair that Americans were still unhappy about the economy despite the stock market doing well, the low inflation rate and the low rate of interest.

The Panda Bear wishes to defend the American people to this reporter.   First of all, many Americans who aren't wealthy are not directly effected by the stock market.   Their major source of money is their paycheck.  Some workers (including the Panda Bear) who work for nonprofits that have endowments that are in the stock market probably are indirectly benefiting from the good stock market.   However, for the majority of Americans who need their pay check to survive the stock market is not a major concern.

 Also the low interest rates are not benefiting everyone.   Many people are being hurt in that banks are not paying much in the way of interest on bank accounts.   Not everyone wants to put their money in an investment where there is risk of losing the principle.   A lot of people have lost a source of income because the banks are not paying much in the way of interests on their deposits.

In regards to low inflation, if you are unemployed you would rather have a higher inflation and higher employment rate.   Also many employed workers have not gotten cost living raise in many years so salaries are not keeping up with inflation-even if the inflation rate is low.  Low salaries and high unemployment keep the inflation rate low because of the reduced demand for goods and surfaces and labor costs are not increasing.  

 During 2008, the Panda Bear was hearing economists stating things that sounded straight out of Orwell's 1984.   She would hear on the news the economy was improving because it was the rate was slowing in which the economy declined.   Then the economists stated the recession was over when large numbers of people were acutely suffering.   When the Panda Bear heard that statement she thought there were probably a lot of unemployed economists looking for jobs in the Obama administration.

 The Panda Bear wishes to enjoy the rest of her Friday by reading a good book.  She hopes to resume posting on her regular bi-weekly schedule. 





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