Here is another post with five Best of Web links I have found and deemed worthy to share with you: How the great resignation is changing our lives, Sam Ro goes independent and writes this great post about the 10 stock market truths, how a journalist escaped from Kabul, it is really never too late to change your life and reinvent yourself, hopefully for the better lol and we close with the winners of the 2021 Wildlife Photography contest. I will see you later this week I think.
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The Best of Web posts are much shorter in length with material that is a notch or two above what you see in the regular TBB posts.
Sometimes you can pull up the pay-walled article using Archive.is site.
Click on the headline for the link!
A lasting effect of this pandemic will be a revolution in worker expectations.
Archived link. There is no doubt that the pandemic changed, well, everything. We are seeing some disruptions/changes in so many aspects of how we live. The labor shortages, supply chain problems, real inflationary pressures and all this will take some time to resolve imho. As long as we don’t get hit by another deadly variant I think we should be fine. I think I can manage not having my coffee at Starbucks when I wanted it as one day last week I went there and it was closed due to “staffing shortage”.
I had a few clients retire this year because, well, they can and why the hell not? And if you can not find a better job these days you are likely not trying hard enough. So there is a lot going on in the bigger picture and workers in the lower end of the pay scale are finally getting paid more and some undoubtedly are content with the government handouts. It will take a while to find that balance again so be kind out there okay?
“Quits,” as the Bureau of Labor Statistics calls them, are rising in almost every industry. For those in leisure and hospitality, especially, the workplace must feel like one giant revolving door. Nearly 7 percent of employees in the “accommodations and food services” sector left their job in August. That means one in 14 hotel clerks, restaurant servers, and barbacks said sayonara in a single month. Thanks to several pandemic-relief checks, a rent moratorium, and student-loan forgiveness, everybody, particularly if they are young and have a low income, has more freedom to quit jobs they hate and hop to something else…quitting is a concept typically associated with losers and loafers. But this level of quitting is really an expression of optimism that says, We can do better.
But, you know, this is not all negative!
For decades, many measures of U.S. entrepreneurship declined. But business formation has surged since the beginning of the pandemic, and the largest category by far is e-commerce. This has coincided with an uptick in moves, especially to the suburbs of large metropolitan areas. Several major companies, such as Twitter, have announced permanent work-from-home policies, while others, such as Tesla, have moved their headquarters. Several years ago, I wrote that America had lost its “mojo,” because its citizens were less likely to switch jobs, move to another state, or create new companies than they were 30 (or 100) years ago. Well, so much for all that. America’s mojo is back, baby (yeah), and it may lead to a better-job revolution that outlasts the temporary measures, such as unemployment super-benefits and rent protection, that have nourished it.
Look at what we have instead: a great pushing-outward. Migration to the suburbs accelerated. More people are quitting their job to start something new. Before the pandemic, the office served for many as the last physical community left, especially as church attendance and association membership declined. But now even our office relationships are being dispersed. The Great Resignation is speeding up, and it’s created a centrifugal moment in American economic history.
Sam Ro is one of the few financial writers I follow because, well, he is really good at it. And now he went independent with his own Substack newsletter. And this public post I am sharing here with you is fantastic. I will just headline the ten truths here, you go read it all.
1. The long game is undefeated
2. You can get smoked in the short-term
3. Don’t ever expect average
4. Stocks offer asymmetric upside
5. Earnings drive stock prices
6. Valuations won’t tell you much about next year
7. There will always be something to worry about
8. The most destabilizing risks are the ones people aren’t talking about
9. There’s a lot of turnover in the stock market
10. The stock market is and isn’t the economy
I guess the media moved on as I predicted in my blog. Nevertheless, the chaotic retreat from Afghanistan will stain Biden’s record for ever and rightly so. Anyway, as that country is on track for never ending suffering I found this account of an escape from it worthy of a Best of Web entry. Be gracious and welcoming to all the Afghani immigrants, they have been through so much hell and this post captures it all so vividly, “enjoy”.
One of the reasons I started this blog almost nine years ago was to do my part to inspire readers. Because we can all change, hopefully for the better lol. Yesterday I ran the Detroit Half Marathon after almost a year beset with injury issues and I am now really believing I can do the Athens Greece full marathon next month. If you had told me I would be running marathons in my fifties I would think you are insane. And yet here I am. And if I can do something like that I am sure you can too. And this post captures this perfectly.
This illustrates just how powerful the mind can be. If you can change it, you can fundamentally change the course of your life.
This isn’t a flex, but a reminder that it’s never too late to change. It’s never too late to take a different path in life. If you want to do something else, you can. If you want to stop a bad habit, you can. If you want to build a new habit, you can.
Maybe you have been procrastinating on something that you know deep down you need to change. Maybe you haven’t had the courage to take the next step. But I’m telling you, that you can change whether you believe it or not.
Trust me. I did it. That doesn’t mean it will be easy. In fact, I still doubt whether I can change myself from time to time. I still doubt whether I can continue to progress in life. I still get that little voice in my head that says, “Maybe this is the best you are ever gonna do.”
But I have to fight back against that little voice almost every day. Thankfully, that fight has been getting easier. Because if I ever start to doubt myself, I can remember those that came before me and what they had to overcome to get here. I can think of my Papa. Because if he can quit smoking after 62 years, what’s my excuse? What’s yours?
I also quit smoking on December 31, 2001. It will be 20 years in a few months, wow!
Enjoy this amazing photography.