George has been a financial writer for more than 30 years. He began his career at The Bond Buyer, covering the municipal and corporate bond markets and municipal finance. He then moved across the hall to American Banker, where he was the managing editor of the newsletter group. He then joined SMR Research Corp. in New Jersey as a vice president, where he lead as the research analyst and project leader for SMR's studies on residential and sub-prime mortgages, home equity lending, credit cards, consumer credit and personal bankruptcy for more than 15 years.
Since 2008, George has been a freelance writer for a variety of publications, websites and blogs, including Financial Planning, The Trust Advisor, Treasury & Risk, Bankrate and Consumers Digest. He also writes for several corporations, research companies and industry associations. He received his Bachelor of Arts degree in English/Journalism from Rutgers University and a professional graduate certificate in corporate finance from Sacred Heart University.
5 thoughts on “Meet INO.com Contributor - George Yacik”
Firstly, the wealthy and the corporations have no problem taking government subsidies and handouts whenever available, which is always, so for them to bitch about poor people getting handouts is pathetically hypocritical.
Secondly, all this labour shortage indicates is how much people at the bottom end have been exploited and underpaid for the work that they do. If the so-called believers in so-called free-market capitalism believe that the market should be allowed to function through supply and demand signals determining the accurate price for goods and services, then pay people substantially more money and improved working conditions and then the labour market will meet its relative equilibrium.
If that means more inflation, then so be it. And if that still doesn't solve the problem, then I guess people are just coming to the conclusion that they don't want to be part of an economic system that treats them like animals just so the minority can benefit. Slavery by another name is still slavery.
Regarding your article today about the worker shortages. With the high cost of daycare, which is due to Government lockdowns and Vaccines mandates. Along with the $300.00 per child tax credit, for a lot of unskilled workers it’s easier to be a stay at home parent. Which means less expensiveness, such as two cars, gasoline, clothing, and daycare!
Yes - the Fed will do what ever it "thinks" it needs to do to put out this fire. The problem, however is the unintended consequences of it's actions. Currently there is a global cash call taking place like the world has never seen. After 2008, loose credit and easy money has kept non viable entities alive. Attempting to buoy these otherwise non viable entities will only exasperate this problem. Unfortunately, we need a "purging" of excess, permitting the creative innovators to pick up the pieces and rebuild our economy. It will not be pretty, but we will be back. The United States has tremendous natural resources, political security, and infrastructure, like no other in the history of the world. It will just take some time.
George: Good take on Yellen. All we ever hear in the news from the Fed is whether or not they are changing the interest rates. Without doing half a ton of reading,what else, if anything, do they accomplish?
That begs the question... what good does the Fed do for the average citizen... cause prices to go up, wages follow more slowly, employees are pulled into the public sector, and our dollar deteriorates?