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I just bought SABR

 

Trailing stopped another $650 call @ a Van Halen price. $5150. Paid $700. Nice profit. 2 July $650 calls open and printing

 

Yep. Just unloaded 1/2 of my remaining positions. Hope your making some good returns on this one.

 

Weird, every one of my stocks tanked between 8:30 and 8:50. They all tanked with the same pattern, then all stabilized around the same time too.

 

My daughter completed the 4 day YMCA/Red Cross Life Guard course and it wasn't easy. Several in her class washed out the first day.

 

My brother got laid off a few months ago, and while he's an upper income earning engineer, he has relatively low expenses. Lives on a farm out in the boonies in northwest Washington.

He was getting like $1400 a WEEK or something ridiculous pre-tax in UI benefits. As far as he's concerned, getting laid off was the best thing to happen to him in a long time.

He sits at home, day trades, and hangs out with his chickens and horses. He's since found a new job he starts soon, but he's not thrilled about it lol

 

No shit. Me too

 

Similar story with a friend of my wife's. Laid off from a director/vp level job that was constant travel. Husband still working, kids grown and on their own. She sat back enjoying being at home with the occasional weekend at a last-minute VRBO beach place 90 minutes away.

Dunno how much of that was severance and how much is now UI, but even so...

Honestly can't say I blame her, I'd do the same thing.

 

My boss's son got let go from his mechanic's shop. Boss said he makes more money sitting at home than he did turning a wrench all day.

 

I got laid off for the first time in my life back in October. Best thing that ever happened to me. Started my own companies. God-willing, I'll never work for anyone else again.

 

haha, I think there’s more to that story.

 

Probably. But the point remains: low income jobs have little incentive to actually work.

 

Well Elon really shook the whole crypto market with that one tweet last night didn’t he?! I always miss the fun when I fall asleep early.

 

Wages have been stagnant for decades at the lower end. Probably not the worst thing in the world to take a look at why that is and how it can be corrected.

Regardless of whether or not the UI benefits are deemed excessive or adequate, there's a systemic problem that needs to be addressed.

Somebody's always going to need to do the lower end labor work, but if those people can't survive adequately without government help, we have a problem. And I don't think the answer is "go to college" or "work harder"

 

Thank you for putting my exact thoughts into words for me.

Eta: quote fail. That was response to kairo

 

Raising wages on a lot of jobs will and has resulted in automation. Example: the touch panels at McDonalds, online ordering at Domino’s. Uber and Lift are the spear point on driverless vehicles.

Work smarter and stay flexible is an answer for those who can.

 

I think we're still decades out from automated vehicles taking over the transportation sector, and I think we should be mindful not to pigeon hole low income work just with fast food. There's lots of above minimum wage jobs which I would consider still to be relatively low income.

For instance, in my area, you can get a labor job in a distribution center for $16-20 an hour. Not bad all things considered. But you're not buying a house on that money, and you're spending vastly more than you should on rent unless you live with others. And automation is sweeping through that sector as well. Every year the forklifts get smarter, the conveyor and processing systems get more efficient. Once pick, pack, and load automation is sorted out, it's going to displace untold thousands of workers. And that's going to happen I think long before automated driving kills the rest of that sector.

So how do we plan for the future to protect these people? I don't have any good answers, but we're going to need to start thinking about it as a society or in 20 years or so it's going to be a catastrophe.

My first job out of college 14 years ago was a warehouse manager job (basically I was just the only one there so I had to do everything) at $40k/yr ($20/hr). I was able to buy a house and after a couple years a new vehicle.

There's no way that's possible now.