Is there a bubble in just about everything right now in the U.S.?

There is currently a shortage of Lyft and Uber drivers because they feel they are not being paid what they are worth.

Ride prices are going up.

They will have to pay more to get more drivers.

Simply free market stuff.

I was reading an article about an ice cream shop that bumped up their advertised pay rate and finally got an influx of applicants and business there is now doing well.

There is a major shift in the economy going on right now.

Markets in the right place, right time are benefiting.

And others may be pulled along for the ride.

Of course there will be some big losers.

the media is corrupt wrote:

seattle prattle wrote:

In order to do so, labor needs to be paid at a decent level. They will be a start. And ad hoc employment like Lyft and delivery services, etc. need to ensure that workers get compensated at a level realistic to live and retire on.

These outsized gains and profits are not being enjoyed by the population at large. In fact, they may be gained at the expense of labor.

I would agree that things have gotten lopsided and we need to start with the fundamentals to level it back out.

Leftists are so silly. Lyft and delivery services will get paid what they are deemed to be worth. Trying to artificially inflate these wages doesn’t work, but it makes liberals “feel” good, so they insist on spouting the nonsense ad nauseum.

Lifting wages in monopsonistic industries would work, and some reasonably argue that Lyft and Uber are monopsonists.

Keep in mind that the "gig economy" like lyft and uber is just another ponzi scheme.

They pumped a lot of money into this. Early investors just hoped to make a sh!tton of money when they went IPO.

The whole business model will not work on their own. You have basically drivers with old cars who can't do the math (until they figure it out) combined with a subsidized fare. Without the subsidization it will not work.

There is a reason why taxis had to be licensed and where limited in numbers and where a lot more expensive.

Wham Bam Thank you Sham wrote:

the media is corrupt wrote:

Leftists are so silly. Lyft and delivery services will get paid what they are deemed to be worth. Trying to artificially inflate these wages doesn’t work, but it makes liberals “feel” good, so they insist on spouting the nonsense ad nauseum.

Lifting wages in monopsonistic industries would work, and some reasonably argue that Lyft and Uber are monopsonists.

Leftie : Lyft and Uber are monopsonists! They need to be regulated!

Leftie : Twitter and Facebook are not monopsonists!They don't need regulation!

Ernest Belfort Bax wrote:

Leftie : Lyft and Uber are monopsonists! They need to be regulated!

Leftie : Twitter and Facebook are not monopsonists!They don't need regulation!

for about the millionth time: democratic politicians are NOT leftists! show me one leftist who has anything but vitriol for silicon valley. actual leftists would move way past regulation and just call for total destruction. those companies do not provide anything of value, therefore they do not need to exist. as another poster said they are all elaborate ponzi schemes for venture capitalists.

Private Equity Firms have been buying up many of the private residences. Paying way over market. All to be used as rentals

They are creating a middle class that can no longer own their own homes and will become permanent renters. The vast majority of people's best asset and best way to accumulate worth is their home.

The new feudalism

You know what will never, ever lose its value? Guns and ammo.

These liberals working in minimum wage jobs are now trying to shame people (govt and media also use these sly, calculated tactics) into giving them tips. They're saying things like if you dont tip your food delivery driver or your restaurant then you are being selfish and don't deserve service, when really they're the ones being selfish and begging for free money to buy themselves designer clothes.

The stimulus money is helping, and hurting at the same time. IMO, it is giving money for people to stay at home, which will push businesses to raise wages in order to attract employees. This is likely part of the goal of democrats, because there is a lot of resistance to raining the minimum wage, and this helps the workers. I have always said that the markets dictate wages, and that minimum wage was unnecessary. The stimulus is driving the markets to react to a helper shortage a little quicker.

fzgsazv wrote:

Wham Bam Thank you Sham wrote:

Or it's because of low interest rates. Lower rates tend to drive asset prices up. Come on jammy, even Peter Schiff would agree with this

Housing is complicated but the current inflation were seeing is due to supply problems not demand problems. Supply problems are temporary.

Also, at the individual level, I'm doing my part. Do yours.

I'm not buying $60 packages of steak at Costco that used to be $45. I'll eat chicken or cheaper steak cuts. Their chicken seems to be the same price it ever was, I guess the chicken supply chain is all good.

I'm putting off buying a car, I'm not paying a premium for a car that usually gets discounted 8-10%. I'll drive my current rig another year or more.

Asking the average American to scale back on buying non-essential things? Now I am worried for a market crash.

Billy Bob gotta have his red meat. God given right.

Our favorite holding period is forever

I think it's more about inflation and shortages than things being in a bubble. I follow this stuff pretty closely, and there are differing opinions, though the big public minds are all saying majorly rough times ahead. Michael Burry (the guy who predicted the 2008 crash) is predicting hyperinflation and the downfall of America. Ray Dalio has been saying similar (though not quite as doomsday) things.

We have major inflation due to all the printing last year (duh), and we have shortages because of the economic shutdown last year. These two BOTH contribute then to higher prices. Then you have low interest rates, so that allows there to be even more money in the system from people borrowing... Pretty tough to say what the outcome of all of this is, though reducing economic productivity as much as we did last year is hugely disruptive. Not saying it was the right or wrong decision, but it was and is more costly than most people can imagine, and we are seeing some of the effects now.

The stock market is high right now, and we are seeing all these strange asset classes rise and fall sporadically as a result of all of the above BUT ALSO because bonds are basically a worthless investment, unlike in the past. Why would anyone put money in bonds when they're returning 1%? That's insane. You could do just about anything else with your money and get a better return than that.

I have no idea what the near to medium term solution holds, but I've kept almost all of my money in index funds with some in what I believe to be undervalued ETFs and another bit on the side as cash. I know cash is a terrible asset class during inflation, but I also want to keep a small bag of it handy in case we see another collapse. You can make an incredible amount of money when the market falls 35% or more. I dumped a ton of money in last year at roughly the right time and made roughly 3X in 1 year what I had over the previous 6.

Interesting times to say the least.

When the government throws 5 trillion dollars into the system and interest rates are the lowest ever and the common person has access to internet web postings about stocks, it's recipe for speculation.

fethullah gulen rupp wrote:

Ernest Belfort Bax wrote:

Leftie : Lyft and Uber are monopsonists! They need to be regulated!

Leftie : Twitter and Facebook are not monopsonists!They don't need regulation!

for about the millionth time: democratic politicians are NOT leftists! show me one leftist who has anything but vitriol for silicon valley. actual leftists would move way past regulation and just call for total destruction. those companies do not provide anything of value, therefore they do not need to exist. as another poster said they are all elaborate ponzi schemes for venture capitalists.

HAHAHAHAHAHA No