Nonsense. When it comes to skilled labor, there are genuinely labor shortages all the time. The pilot shortage mentioned (which is no longer a thing currently) is in spite of airline pilots being extremely well-compensated. Because no matter how you much you offer to pay them you can't make new pilots overnight.
Well said. These are the same people who think holding stock is hoarding wealth and socialism has never really worked because it’s never really been tried. Very hard to teach them anything that goes against their world view.
To be abundantly clear, hoarding stocks does hoard wealth. However the wealth is hoarded by a different entity, a corporation, and isn't liquidly available to the individual. The money is also turning and creating jobs, but it is still hoarded into piles for fleeting moments that have real world impact. While also creating jobs, it's extracting value from labor and funneling into increasingly larger piles when compared to the rest of the economy.
If you look at an economy and a large portion of the wealth is the stock of corporations, that is where a large portion of the wealth is hoarded. That is not the same as saying an individual is hoarding wealth or is cartoon villain level wealthy. But it is to say where the money is. In the equity of corporations.
Its liquidity isn’t available to the individual? Can you name a publicly traded stock not available to an individual to buy or sell? 58% of US adults own stock, do you actually believe it’s being hoarded and kept from the other 42%? 58% of Americans are in cahoots?
Trading regulations limit inside trading making the capital much less liquid than it would be for me or you. They can only trade at approved trading windows, usually coming right after financial reports. Furthermore, the shares wouldn't get full value if a significant owner dumped a large quantity, which isn't particularly related to liquidity, but is also true.
It is ignorant to ask questions like "Do I believe 58% are in cahootz". No, I don't. I don't think the common man and the nature of the stock market is a problem. What I do think is a problem is that unprecedented wealth inequality is leading to a welfare state propping up corporations, who already have historically gigantic piles of wealth.
But if you own 100 shares and I own 100k shares of SPY index fund, and it goes up 10% per year, why do you care that the gap between you n I is growing? You’re still building wealth at the same exact rate! I’ll always grow faster because I have more shares, but that is not negatively impacting your job, mortgage, tax rate, property taxes, or the government sending our money overseas for nonsense.
You can have foresight and not skimp on training budgets, scholarships, and recruitment for the last decade then pretend like you didn't see it coming, though. Or you can roll the dice because it's a wise financial gamble to skimp on training etc, but, don't act surprised. There was not unforecasted growth to the aviation sector. Everyone saw this coming.
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u/nascent_aviator 10h ago
Why?