Fundamentals

The stock market took an 800-point hit. At the same time world oil prices took a direct hit. Those two markets rattled the public. Was a recession near? Was a massive financial upheaval underway?


Most likely the upheaval has been underway for some time. Major trends start small and seep upward until we notice them. Often, trends make themselves known from a combination of factors. A shortage in a simple product – paperclips – makes us notice that other common office supplies are slow to obtain from the supply chain. This actually happened in the late ‘70’s. At the time, interest rate markets were insanely high; mortgages were going for 18%; auto loans were 12%. Money was short and prices were soaring. Gasoline shortages were headline news.


Here’s a trend that few talk about: declining age of workers. Elders are increasingly not present. They have retired or were pushed out of careers in favor of younger staff who had high tech skills. Greeters at Walmart became their refuge jobs, or caregivers in their neighborhoods. Then Uber and Lyft appeared and new careers opened up. These new careers for elders, however, came with low wages, no benefits, and much of the risk of the job placed on them directly – think auto expense for Uber and Lyft drivers.


At the same time tech workers surged, management workers ebbed. Corporate culture softened and wobbled. Those who knew and understood the corporate culture had been let go. Corporations soon were engaged in their own re-invention; many did not fare well. The newer corporations are still brittle and unproven in their lasting power.  Think of Amazon and what it is like to work there. So many new employees, so much repetitive work and routines, so much boredom and burnout. Work hours are designed to avoid benefit programs, but the hours for overtime and double shifts are welcome and hungrily absorbed until health and psychological issues develop. Not a happy place to work, I hear. How sustainable is their business model?


Labor trends in America have been afoot for at least 10 years, probably longer. But hey, thinking, logic and analysis is apparently not valued in the new workplace, so troubles are becoming evident.

Maybe some older, experienced hands should be consulted?


There is a lot more happening in the American economy than volatile stock values, labor shortages, and vast unused labor resources. There is a value shift from career workers to piece workers, skill set contributors until the project is finished, and then on to the next new thing. Constructing a lasting framework for sustainable products, services and careers is growing scarce.


This questions the underlying value of much we say we value. Are we forgetting why we labor in the first place? Are we chasing our own tails without end or purpose? Are we building a future that is worthy of our values?


The foundation of our culture, our nation and our very lives is at risk. Are we aware of this? If so, what are we doing about it?


August 15, 2019