Being in a non-federal government job, in a non insane state.
Comment on Everyday AI looks more like the '08 housing bubble
null_dot@lemmy.dbzer0.com 2 weeks agoCan you elaborate on managing “steady good work”?
ubergeek@lemmy.today 2 weeks ago
commander@lemmy.world 2 weeks ago
If you have a stable job with good pay or good upward mobility in the company potential and don’t have periods of unemployment, if it has a 401k, you’re 401k is being invested while the market is down. When unemployment is high, the Federal Reserve sets the federal funds rate much lower to try and stimulate the economy. That results in lower rates for consumer loans. So people that have stable jobs that pay well enough can take out loans and/or refinance their current loans to do better than they were.
When the market recovers, you’ve had years of experience that you can now use for job hopping at more senior level roles when the job market recovers. Also a lot of late career people end up consulting for companies large and small with inexperienced staff. Those that didn’t fare well in a career during a market downturn, it’s either stagnation or hardship after hardship
null_dot@lemmy.dbzer0.com 2 weeks ago
This is a really odd take.
Sure but you just lost half your 401k, including half of what was invested while the market was overpriced.
Yes, but lenders also tighten their criteria during these times because even a stable job is dramatically less stable during a recession or depression. It’s very difficult to borrow money in an economic downturn.
Sure but if the market didn’t collapse you would still have those years of experience. During a collapse fewer people will have consistent employment.
Not sure where you were going with this part.
The universal economic truth is, in times of economic uncertainty the working class does the heavy lifting.