The Viral Economy

[Blackhawk]

Energy issues, the pandemic, Ukraine, food shortages, climate change... I have a feeling that the next decade is going to be interesting, in the Firefly sense.

[malchior]

The upside is that all of problems are happening in a time where we have well oiled governance that can quickly pivot to innovate on achievable solutions to problems...

[ImLawBoy]

The upside is that all of problems are happening in a time where we have well oiled governance that can quickly pivot to innovate on achievable solutions to problems...

It's so refreshing to see your positive take on the situation!

[Smoove_B]

I mean, really.

A new report from Redfin shows that nationally listed rents for available apartments rose 15% from a year ago. And the median listed rent for an available apartment rose above $2,000 a month for the first time.

Rents are up more than 30% in Austin, Seattle, and Cincinnati. In Los Angeles the median asking rent is $3,400. Even in formerly affordable cities such as Nashville it's now $2,140, up 32% from last year.

What's up?

The increased demand for rentals from people who would rather buy a home is likely to continue. Mortgage applications to purchase a house are 21% lower than a year ago as rising interest rates continue to price more would-be homebuyers out of the market.

[malchior]

NY Post

More than one-third of all flights at LaGuardia Airport and over a quarter of flights at Newark Airport were canceled Thursday in one of the worst travel days yet this summer.

The huge percentage of flight cancellations, cited by tracking service FlightAware, were due in part to the chance of storms late in the day.

However, the travel chaos was not limited to New York City-area airports, with more than 1,500 flights canceled on Thursday across the country as the peak summer travel season gets underway.

The travel woes continued into Friday morning when 67 flights departing LaGuardia Airport were canceled. Newark Airport canceled 70 of its outbound flights as of 5 a.m, according to FlightAware.

Staffing shortages, especially a lack of pilots, are to blame for the nationwide travel headaches, according to industry insiders.

Thursday’s cancellations came after 2,800 flights were scrubbed in the US during a five-day stretch around Memorial Day weekend.

Buttigieg made a number of requests during the meeting. He asked the CEOs to ensure July 4 holiday travel runs smoothly and pushed the airlines to evaluate if they can deliver on the flight schedules they have published. He also requested they improve customer service.

It seems that the Biden administration realizes that all these disruptions are another thing piled on top of them. While it isn't totally their fault it is still bad optics. This really looks like an administration that can't win.

Yesterday, it looked like multiple factors are in disarray. I was pretty tuned into what happened because I was monitoring LGA yesterday on FlightRadar24. My wife was supposed to come in from IND (she had three flights cancelled yesterday) and from where I was sitting it looked like the LGA wasn't pilot shortage. It looked like an FAA meltdown. There were storms for sure way to the west. That can't explain why when skies were clear almost nothing left LGA for about 2 hours in the middle of the afternoon. I saw the same thing at Newark.

Even stuff that was going overseas were on the ground (those tend to ignore weather restrictions unless very obvious). Obviously I can't be 100% sure but as an experienced traveler it sure looked like ATC was unable to coordinate outbound flights for some extended period of time anywhere but JFK in the NYC area. It's going to be a fun summer for travelers.

[LawBeefaroni]

I saw my aunt and uncle over the weekend. They're retired and have been traveling a lot. Recently they had a stop in Midway airport. Their flight was over booked. Since they really don't have a tight schedule, they volunteered to be bumped. Airline got them the next flight and $500 cash (gift card) each. Their next flight was overbooked too. And the next one.

To make a long story short, they ended up on a flight about 6 hours later with $2K each in gift cards.

I told them I may quit my job and just book flights out of Midway.



I would not want to be traveling on any kind of schedule for a while.


Oh, and to show how bad it's gotten, on one of the flights my aunt and uncle volunteered to be bumped, the desk agent announced it over the PA and they got a standing ovation.

[malchior]

My wife and coworkers were considering driving from IND to Midway because they thought there'd be more flights available. I told them to head to CVG instead if they got that desperate. Midway was not going to help. Lol.

[YellowKing]

Yeah I'm really dreading the flight to GenCon in August. We're on a 6am flight, though, so maybe we'll beat the inevitable delays.

[malchior]

Yeah I'm really dreading the flight to GenCon in August. We're on a 6am flight, though, so maybe we'll beat the inevitable delays.

Yep first flight typically is my favorite choice most times of the year.

[Carpet_pissr]

Yeah I'm really dreading the flight to GenCon in August. We're on a 6am flight, though, so maybe we'll beat the inevitable delays.

It will certainly decrease your chances, unless all traditional rules of flying are out the window.

[Blackhawk]

My power bill for this month is the highest I've ever seen it, by a fair margin.. Part of that is having to switch the AC on (although only for a couple of weeks of the billing period), and some of it was Caiden being home with his second PC running full time. But that's not nearly enough to explain going from $124 last month to $225 this month ($166 a year ago, $137 two years ago.) Some quick checks show me that part of that is yet another blowback from world events.

It this keeps up, we won't be able to keep using the AC.

[LawBeefaroni]

Prices at the grocery are up around 20% across the board from my observation. And that doesn't count shrinkflation.

Energy is going to continue to go nuts.

[Kraken]

I need to travel to Mich. for one day, July 2, to be at my sister's memorial service. Last time we went, flight cancellations and delays turned that into a 12-hour trip. We can drive it in about 14 hours, so that's what we're doing. (Wife also wants to bring back some property that a friend there is storing for her, which contributed to our decision to drive.) Because we are old, we're splitting the drive over two days each way -- so four days traveling to spend one day there. And because our bigger car is 12 years old we're renting one rather than risk ours breaking down.

Of course traffic will be terrible; gas prices haven't yet cut into Americans' travel plans. Speaking of which, I estimate that gas will cost as much as the car rental -- $400. But plane tickets are expensive, too, and flights are so unreliable that we couldn't risk missing the service (which we're arranging and mostly paying for). So...road trip!

[Zarathud]

Even with high prices, everyone wants to get away after being cooped up.

[malchior]

Prices at the grocery are up around 20% across the board from my observation. And that doesn't count shrinkflation.

Energy is going to continue to go nuts.

You can battle it to some extent. I've maintained a strict budget for years and I haven't increased it over last year much and have barely noticed it. Even here in Socialist NJ. We do our shopping mostly exclusively at Lidl which I think has been a big part of it. Restaurants are a whole different matter. I alsp locked in my electricity supply rate for 3 years about a year back. That has helped a lot too.

[LawBeefaroni]

So...road trip!

A guide to Michigan’s recreational marijuana laws: What you should know

[LawBeefaroni]

Prices at the grocery are up around 20% across the board from my observation. And that doesn't count shrinkflation.

Energy is going to continue to go nuts.

You can battle it to some extent. I've maintained a strict budget for years and I haven't increased it over last year much and have barely noticed it. Even here in Socialist NJ. We do our shopping mostly exclusively at Lidl which I think has been a big part of it. Restaurants are a whole different matter. I alsp locked in my electricity supply rate for 3 years about a year back. That has helped a lot too.

I noticed that the world food and "Hispanic" aisles haven't caught up yet so I bought a lot of Polish and Macedonian foodstuffs. Imported polish Rice cakes are about 40% the price of domestic ones.

And yes, I'm fighting this battle because the wife shops at Whole Foods/Amazon Fresh. Anything I can stock first is something she won't buy there.

[Kraken]

So...road trip!

A guide to Michigan’s recreational marijuana laws: What you should know

Heh. Since we'll be in the car or a motel room nearly the whole time, I won't take any weed with me or buy any while I'm there, but I noticed pot shops everywhere on our last trip.

[malchior]

Even with high prices, everyone wants to get away after being cooped up.

Yup. I went to pick up my wife from the airport and you'd never know gas prices were enraging the masses. They are sitting around in endless traffic jams in their huge gas guzzling cars. The disconnect between what people gripe about and what they do about it is pretty wide.

Edit: Side note there were even more cancelled flights today. The law says if they cancel they must refund it. In trying to get those refunds we noticed that both United and Delta have seemingly removed the option to do this via the app or web. I had done this several times in the past but couldn't find it. Eventually she called. The first call with United took 2 hours and they tried talking her into taking a credit. She has been on hold an hour with Delta. I expect similar shenanigans.

What's even more interesting is that demand is much higher than 2020 but is below pre-pandemic levels. Maybe the weather is a bit worse but there does seem to be degradation of reliability in the system. Flying is now a new circle of hell here. And I expect Biden will start taking the blame in 3...2...1.

[gilraen]

I have a morning flight to Toronto next Monday (for work). Since it's an international flight, I expect it to be (mostly) on time but if not...well, I'm in no rush, and work's paying for it, so I'll just sit in the United lounge until they find a flight to put me on.

[gbasden]

What's even more interesting is that demand is much higher than 2020 but is below pre-pandemic levels. Maybe the weather is a bit worse but there does seem to be degradation of reliability in the system. Flying is now a new circle of hell here.

Perhaps, and I'm just spitballing here, but maybe pretending shit is fine while still in the middle of a pandemic is causing some stress to the system?

[Smoove_B]

Perhaps, and I'm just spitballing here, but maybe pretending shit is fine while still in the middle of a pandemic is causing some stress to the system?

I've been assured we're all going to just keep doing stuff and it won't matter!

[Carpet_pissr]

My days of near constant flying for work are probably over (at least suspended), but for those of you still out there braving the Suck, I present: The Misery Map :

https://flightaware.com/miserymap/
As you can see, you REALLY want to avoid flying between the hours of about 4p-9:30p. And yeah, I know that that is very hard to avoid. I would probably even say until 10p on the later side of things - that's when airlines are like "fuck it, it's the end of the day, our options are now super limited, we're all tired and want to go home...we'll let the guy on the morning shift tomorrow clean up our shit show from today...CANCEL! (that's what it FEELS like at least).

I will be flying to Dallas on Tuesday, which will be my first business travel flight in...five years! Jesus. The time. It flies.

I also would be fine with a cancelation or delay, since I will be flying out to meet my cartel boss. Who knows if I will return (with all appendages).

[RunningMn9]

I'm headed back to ATL for work this week. If I get jammed, I get jammed. My daughter flew down to Charlotte on her own the other day, and there were no delays there, hopefully her luck holds when she flies home on Tuesday.

Incidentally, since she was flying alone, I opted to find a flight out of a small regional airport that is roughly the same distance from me as Newark (maybe a little closer). Short Term parking was wide open, it is about an 80 foot walk from the parking lot to the TSA security check point, and there were like 2 people online at security. She was through security and on her way to the gate in less than 60 seconds. Flight was out on time. Overall, and excellent experience. Flight to Charlotte wasn't too crazy - but when I looked into flying out of there to ATL this week, it was three times as expensive as EWR, and included a bus trip to EWR to fly out of there anyway. At least it worked out for her.

[Isgrimnur]

I will be flying to Dallas on Tuesday, which will be my first business travel flight in...five years! Jesus. The time. It flies.

I also would be fine with a cancelation or delay, since I will be flying out to meet my cartel boss. Who knows if I will return (with all appendages).

This aggression will not stand, man!

Holler if you want to do dinner

[hitbyambulance]

What's even more interesting is that demand is much higher than 2020 but is below pre-pandemic levels. Maybe the weather is a bit worse but there does seem to be degradation of reliability in the system. Flying is now a new circle of hell here.

dad said he's never flying anywhere again after the experience my parents had traveling here last month. (whether he _actually_ means that remains to be seen, but the fact it was even uttered is something)

[Carpet_pissr]

I will be flying to Dallas on Tuesday, which will be my first business travel flight in...five years! Jesus. The time. It flies.

I also would be fine with a cancelation or delay, since I will be flying out to meet my cartel boss. Who knows if I will return (with all appendages).

This aggression will not stand, man!

Holler if you want to do dinner

Dang, I actually would like that but they’ve got us ‘programmed’ for dinner (and apparently axe-throwing after). Team-building and all that. The HR girl is pretty heavy-handed and I wouldn’t be surprised if she demanded that we all hold hands while crossing the street.

I’ve only met one OO’er IRL (that I know of!), and would love to increase that number.

[Isgrimnur]

I curse Henchperson Resources with the fury of a thousand suns.

[Carpet_pissr]

I curse Henchperson Resources with the fury of a thousand suns.

I’ll stop derailing after this, but this particular one (who is both young, new to the company and new to HR) made the mistake of asking me for a doctor’s note last week.

My boss at the time (now fired/quit) was working remotely, and I’m in an office with The Queen of HR Dominance and a few others. Since I’m so new, I just shot a quick note to my boss that I would be out for a few hours, and cc’d the QoHRD.

Immediate response back from QoHRD: ‘ Thanks for letting me know. Please bring Doctor’s note for our files.’

My first response (which I deleted after cooling down) was ‘ I’ll bring you a note, but it won’t be from the doctor, and it won’t be appropriate for filing.’

After a few inappropriate iterations, I finally just went with the very lame: “not sure if serious?!”

I also happen to think it’s silly that a ‘startup’ with all of 13 people even has an HR person.

[LordMortis]

Dang, I actually would like that but they’ve got us ‘programmed’ for dinner (and apparently axe-throwing after). Team-building and all that.

Wait. Team building after axe throwing for work after dinner? What do you do for a living again?

Also screw that. After dinner, I'd want to be done. Team build before dinner. Work, lunch, team build, dinner, done.

[Carpet_pissr]

Dang, I actually would like that but they’ve got us ‘programmed’ for dinner (and apparently axe-throwing after). Team-building and all that.

Wait. Team building after axe throwing for work after dinner? What do you do for a living again?

Also screw that. After dinner, I'd want to be done. Team build before dinner. Work, lunch, team build, dinner, done.

Yeah, I had to go back and look at the itinerary...that did sound horrible: it's axe-throwing 'team-building' THEN dinner. All is right in the world now.

We are shedding people on a weekly basis, so there might not be much left of the team by the time we arrive tomorrow. "Axe-throwing for one??"

[Alefroth]

Anyone that you'd like to shed during the axe-throwing?

[LawBeefaroni]

The Dems continue to botch the messaging.

(CNN)President Joe Biden said Monday he hopes to decide soon whether to support a temporary pause in the federal gasoline tax and is nearing a decision on student loan relief as he looks to ease the burden of high prices on Americans.

Is that a joke? Because it sends the wrong and inaccurate message that he somehow controls case prices and can provide relief. It's is completely inept. Also, we're way past student loans.
It's like no one is captaining the PR ship.

[Unagi]

Depends. Do you think of yourself as essential?

You'll have to ask his wife.

Stop revealing your own concerns by way of your friendly jabs at online friends.

[malchior]

Apparently the only way to battle inflation is years of persistent joblessness for millions of people. That'll calm things down for sure.

[Isgrimnur]

If they try to keep wages low, a whole lot of people are going to exit the workforce.

Workers need to be disciplined by the labor market, he insisted.

Powell argued,

There’s a path by which we would be able to have demand moderate in the labor market and have—therefore have vacancies come down without unemployment going up, because vacancies are at such an extraordinarily high level. There are 1.9 vacancies for every unemployed person; 11½ million vacancies, 6 million unemployed people.

Powell aims to do this by reducing wages.

[Zarathud]

If that is Powell’s goal, he is going to fail.

[malchior]

If they try to keep wages low, a whole lot of people are going to exit the workforce.

And the participation rate has been depressed since 2008. Especially amongst men. There is a lot of misery built into this sort of policy regime that very well could be at the core of the political instability we face.

[LawBeefaroni]

If they try to keep wages low, a whole lot of people are going to exit the workforce.

And the participation rate has been depressed since 2008. Especially amongst men. There is a lot of misery built into this sort of policy regime that very well could be at the core of the political instability we face.

It's down 10% since 2002. This is why unemployment number are useless. They don't reflect a broadly decreased participation rate.

[Carpet_pissr]

So what is that 10% DOING? Can't all be uber drivers and Doordash...can it?