All-In with Chamath, Jason, Sacks & Friedberg E86: Macro outlook: jobs, housing, inflation + Dutch farmers protests & EU climate missteps
23 snips
Jul 8, 2022 The hosts tackle the complexities of the current macroeconomic landscape, discussing the paradox of high job openings amidst rising unemployment. They explore consumer confidence and the implications of inflation on household budgets. The conversation shifts to rare earth elements, highlighting the economic potential and challenges of extraction. Dutch farmers' protests reveal a disconnect between policymakers and agricultural realities, prompting insights on the need for smarter legislation. Finally, the impact of political decisions on everyday citizens is critically examined.
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Structural Unemployment
- The US job market has a structural unemployment problem, with two openings for every job seeker.
- These openings don't pay enough to entice people off the sidelines.
Inflation Drivers
- The Federal Reserve's rate hikes assume excess demand is driving inflation.
- They overlook the supply-side problems and decreased production.
Job Market Shift
- The pandemic and stimulus caused a shift in job preferences, with white-collar jobs declining and hospitality/retail jobs rising.
- This shift, combined with remote work, contributes to downtown decline and impacts commercial real estate.
