‘We need to see pain’: Multimillionaire says unemployment must rise

I have previously said interest rates only rising in the face of wage inflation and ignoring decades of asset inflation was a attack by the investor class who feel they shouldn&#x27;t have to share the rewards with workers.<p>This guy confirms that thinking is likely prevalent.<p>Workers need to be reminded who they work for? They need to be reminded that the Hamptons isn&#x27;t a defensible position.

This is the same person that said young people can&#x27;t afford houses because they spend too much money on avocado on toast.

Or maybe just maybe, we ought to move away from our current school of economics and find a different one that addresses the shortcomings of the current one.<p>I would love to see more coops start up as it puts each employee with the responsibility of working as hard as they wish, but also taking on the responsibility.<p>Or at least giving employees stock shares.<p>Oh also raise taxes, on the rich or force them to invest their excessive money into the economy (investment projects or even funds&#x2F;stocks for instance).

&gt; &quot;We need to see pain in the economy.&quot;<p>Says the person who has been allowed to accumulate $912M under the very same economy.<p>&gt; &quot;We need to remind people that they work for the employer, not the other way around.&quot;<p>The people work for themselves. Too bad the free market is slightly inconvenient for you right now.<p>&gt; &quot;There’s been a systematic change where employees feel the employer is extremely lucky to have them, as opposed to the other way around.&quot;<p>So they &#x27;re supposed to believe that they are so lucky to be able to have a job at all and (most importantly) behave accordingly.<p>The nerve of that shithead...

Too late for that. Too few people were born in the 21st century and now are entering the workforce in record low numbers.<p>And this time you can&#x27;t just throw people at the problem, because it&#x27;s a worldwide phenomenon - at least in countries where most of the population gets the 9+ years of education required to participate in an advanced economy.

As an American who has spent a couple of years in Sydney, there are a few interesting observations:<p>- Tradies (construction workers, train workers, etc) are super common, it&#x27;s a well-respected job, and it pays well (something like $25-30&#x2F;hr AUD). - Sydney has so many construction projects. Every little bit of road is endlessly built, ripped up, redesigned, and built again. There are MANY train stations (~200?) and many of them constantly get refreshed and made super nice. - Speaking of trains, there are like 7 competing public transit train systems in the greater Sydney area. Many of them are not interoperable - Construction is FAST here. From train station upgrades to apartments (though they&#x27;re cookie cutter like the US), everything goes up in like 6-12 months.<p>A part of me feels they have so much money to slosh around everyone&#x27;s got jobs, and they can throw it on endless civic projects. It&#x27;s like playing Sim City with an infinite money cheat.<p>The joke here is that Australia makes money &quot;by selling pieces of it to China&quot; but that will probably end sooner or later... and that&#x27;s when unemployment will soar, and the good times will end.<p>Until then, let the good times roll (on one of the competing train lines)

I say multimillionaires should pay more taxes.

Person who earns money from exploiting labor says labor should be cheaper. Shocking.

I don&#x27;t want unemployed people desperate to survive threatening order...

Wow, cartoon supervillain stuff.

&gt; &quot;if we’re not growing, we’re dead.&quot;<p>is this driven by something fundamental in human nature or is it a byproduct of neolib capitalism.

And then there&#x27;s this asshole.

I wonder what software would look like if employers wanted to see a jump in productivity and thus eliminate all usage of things like web frameworks and jobs reliant upon such. That would restrict employees and hiring to fewer people capable of performing without those frameworks.

* in Australia

peak capitalistic moral decay