Veterans’ Employment and Training Service (VETS)

VETS Newsletter:

Veterans’ Employment and Training Service (VETS)

April 24, 2017

As we approach Military Appreciation Month in May, I want to highlight just a few ways we at DOL VETS support transitioning servicemembers and their families as they make the move from military to civilian life. Recognized as a month-long celebration, Military Appreciation Month helps focus the Nation on its military family--to honor, remember, recognize and appreciate those who have served and those now serving.

An important aspect of supporting our military and their families (as they make the transition to from military to civilians, or later as veterans) is the availability of meaningful employment support. From Gulf War II era veterans who have recently transitioned to veterans who have been out of uniform for many years, VETS does this by engaging and mobilizing communities and employers to establish collaborative partnerships that support veterans nationwide. We also work to address the skill gap between veterans and employers who are seeking employees with industry recognized credentials and by helping veterans and transitioning servicemembers receive occupational, classroom and on-the-job training. Another key component of VETS’ work is conducting employer outreach across the country, making it easier for companies to find and hire veterans by leveraging federal, state, and local resources.

This month we wrapped up our VETS Leadership Conference in D.C. The timing was great, and we covered a lot of important topics. While I won’t recap the conference here, I do want to give you a flavor of the kinds of things we addressed. Our regional staff and national office leadership team discussed and shared ideas on topics like the military’s decision making process, communications, and employer outreach initiatives. We also hosted a Community Engagement Roundtable to discuss how national level programs and organizations can translate into coordinated services and assistance for veterans at the local level across the country. Then we discussed program goals and priorities for the year. While the employment situation for veterans continues to look promising, we look forward to considering new ways to ensure veterans have the best employment assistance possible.

• Our regional staff and national office leadership team discussed and shared ideas on topics like the military's decision making process, communications and employer outreach initiatives.

• We also hosted a Community Engagement Roundtable to discuss how national level programs and organizations can translate into coordinated services and assistance for veterans at the local level, across the country.

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I continue to remain impressed with our entire team here at VETS, and I appreciate their passion, expertise, and experience. We are fortunate to have such a talented and dedicated team of professionals.

Thank you again for your support in serving our veterans and their families,

Sam Shellenberger,
Deputy Assistant Secretary

ECONOMY & MARKETS

ECONOMY & MARKETS

Back to the future… By Ben Benoy, Editor, MarketVOX Trader

It’s that time of year, when we stop to reflect on what 2016 had to offer. You’ll most likely being seeing a lot of this kind of review in the days to come, so I’ll start you off by looking back at the innovation that rocked the tech sector this year.

It should be no surprise that five of the seven most valuable companies in the world are technology companies.

Apple (Nasdaq: AAPL), Alphabet (Nasdaq: GOOGL), Amazon (Nasdaq: AMZN), Microsoft (Nasdaq: MSFT), and Facebook (Nasdaq: FB) are setting the pace for disruptive technology that we see, and often don’t see, every day.

2016 was a banner year for these companies, not only for the disruptive technology they created, but for the technology development environments they produced. Mainly technology policy.

This year we saw Apple lobby hard for mobile device encryption and Amazon hit the government about drone regulations for product delivery.

Both of these industry juggernauts know that without one foot inside our nation’s capital, their landscape growth is severely limited.

Apple has become a symbol of American innovation, but with wireless earbuds being the top innovation for 2016, hardware development options are looking bleaker every day.

Expect these top tech companies to double down on software and infrastructure innovation to support the burgeoning data problem we have now with On-Demand everything.

Thanks, Netflix!

Yes, with streaming movies, games, and TV shows, 3G wireless networks no longer make the cut. 4G-LTE wireless coverage is the only way to go. But these fast networks are only as good as the wired infrastructure backing them up.

Traditional tech service companies like Alphabet and Facebook are getting into the fiber infrastructure business to support their user’s hunger for more services, wired or wireless.

Cellular wireless is cool, but satellite wireless is cooler since your wireless signal comes from space. To make space infrastructure more affordable, SpaceX tested reusable rockets for satellite payload delivery in 2016.

Yes, these bad boys land back at the same pad they were launched from, refuel, and are ready for the next delivery!

Elon Musk was so excited about this capability, he shared his grand plan for a million-strong Mars Colony. The only catch, at least a million people have to sign up to keep the tickets under $200,000 apiece. What a value!

Just in case you’re planning on staying on Earth for a while, Alphabet (Google) launched a project to deliver affordable Wi-Fi to regions of the world that cannot support traditional cellular infrastructure.

It’s called Project Loon, and involves high-altitude balloons that float in the stratosphere (11 miles in the sky) to deliver a 4G-LTE wireless network.

No matter what wireless infrastructure your devices connect to, expect a lot more device-to-device communication for automation in 2017.

The Internet of Things (IoT) revolution has come full circle, connecting almost any device imaginable to the Internet for automation and intelligence. Fitness and health trackers, home automation, and driverless cars are just a few sectors at the tip of the iceberg with this life-changing capability.

2016 saw the launch of Tesla’s automated driving capability, but other auto manufacturers and tech companies are right on their heels. Even Uber, the world’s largest taxi company that owns little to no cars, launched a self-driving On-Demand taxi fleet in Pittsburgh this year!

In healthcare, we saw leaps in genetically engineering immune cells to fight cancer, and artificial intelligence computers assist physicians with patient diagnosis.

Monsanto (NYSE: MON) dumped the agriculture industry on its head by taking the same gene editing techniques applied to live beings, and purchasing it for plant gene editing. The company hopes to develop plants that are more drought and disease resistant without cross splicing species.

In short, 2016 was the year that brought us that much closer to the future. All those technologies dreamed up for Star Wars, the Jetsons, Star Trek… they’re not all just make believe anymore.

So, with all that in the rear-view mirror, what can we hope for in 2017? Really, anything in the realm of possibility (and imagination) is on the table. And we’ll be here to give you the latest market insights on how to profit from these changes.

From my family to yours, have a very Merry Christmas and Happy New Year!

Ben

ECONOMY & MARKETS

ECONOMY & MARKETS | January 02, 2017

2017 Outlook:

A Volatile Year from All Angles By Harry Dent, Founder, Dent Research

Where to now… after what 2016 dished out?

First there was the surprise upset of the presidential election of dear old Donald.

Then came the surprise shift in sentiment about the election. Before, he was a wrecking ball. After, he’s suddenly Jesus walking on water. Never mind that he’s already pissed off China… twice! Or that many are worried about his overly cozy relationship with “Darth” Putin, as with his new Secretary of State, Rex Tillerson, who is also cozy with Putin.

And let’s not forget the markets that were already overvalued suddenly breaking up irrationally on promises that Trump can deliver sustainable growth rates of 3% to 4% again.

So, we’ll just grow our way out of this big fat bubble, shall we? Ha! That has never happened – not once in history – and there’s NO CHANCE this will be the first time… not given our aging populations, low productivity and unprecedented debt burdens!

But the markets will continue up after a near term slump until they start to realize that there is no easy way out of the bubble that Trump himself has declared.

Tax cuts won’t get companies to expand substantially any more than did free money that largely only led to stock buybacks and mergers and acquisitions – financial engineering – not real growth. Besides, infrastructure investments take forever to get drawn up, approved and shovel ready.

While the Trump rally seems to have legs, it’s not based on anything substantial or real, except perhaps some cuts in regulations. I think it’s not likely to make it into the summer of 2017. In fact, it’s just another sign of how much the stock market is in an irrational bubble!

The debt ceiling is on the cards to be raised this March. Do you think the Republicans will back just any tax cut or infrastructure bill without considering how fast that will get us from $20 to $22 trillion in debt – or by past trends and our estimates of $40 trillion by 2024? Yes, the federal debt has been doubling every 8 years.

That’s what I thought.

So, here’s my forecast for this very tricky, new year:

The big divergence:

I think stocks will continue to rise after a pullback near term, while bond yields and the dollar also rise to counter that trend… until it breaks. But I think Trump could have as much as a 6-month grace period before reality sets in about his ability to get things passed and to achieve 4% growth rates.

Stocks rise:

I see stocks going as high as 22,000 on the Dow and 2,500 on the S&P 500 by mid-July or so… maybe even a bit later. After that, I expect the Russell 2000 (small caps) will lead us into the trenches. A growing divergence between large and small caps will be an important sign of such a top. Small caps have grown the most irrationally since the Trump win after lagging and could disappoint increasingly in the continued rally from here.

10-Year Treasurys:

10-Year Treasurys could rise to near 3.0% before reversing down on falling inflation and slowing economic trends again. Once they’ve started to fall, they could go as low as 1.0%, or lower, and then stay near there for years, creating the fixed income opportunity of the decade for buying 30-year Treasurys and 20-year AAA corporate bonds. (I detailed this in the January issue of Boom & Bust, so be sure to read it!)

The dollar strengthens:

Look for the greenback to rise to 120, likely by late 2017, while the euro falls to 0.85-0.88. In fact, the euro’s very existence could be threatened by default scares in Italy and the failure of Deutsche Bank.

Gold falls:

This is the year we’ll see gold sink to $650-$750 per ounce, likely by late 2017 or shortly there after. I still see it dropping to as low as $400 (if not lower) before this down 30-year commodity cycle is over between early 2020 and early 2023.

Oil rises a bit more and then crashes again:

Oil will likely rise to as high as $60 at first, and then fall back to $26 or lower by late 2017. Ultimately, I expect we’ll see oil prices between $8 and $18 a barrel by early 2020.

Trump trumped:

Lastly, I reckon Trump will quickly discover that it’s not so easy to get most of his agenda passed. Even his Republican party is split on some issues. In fact, I’d go so far as to say he may not last the year… for many reasons.

All of which makes for a volatile, highly charged year. The most likely scenario: another 10%+ rally into the summer, then a dramatic first crash of up to 40% into the fall. I’ve warned many times that the first bubble crash can be as much as 40–45% in the first 2.5–3 months in the most bubbly sectors.

We’re deep into this economic winter season. My hierarchy of cycles remain in negative territory for the next three years with aftershocks for another three to follow. The threat of civil war looms over the Divided States of America, especially in late 2017 forward. Another challenge for the economy and “the Donald.”

Through it all, my team and I will be working with you to find the opportunities and make the most of them.

Happy New Year!

Harry

ECONOMY & MARKETS

ECONOMY & MARKETS | January 04, 2017

Using the House to Pay for Grandma

By Rodney Johnson, Senior Editor, Economy & Markets

I’ve always got the nagging feeling that I’m not saving enough for retirement. Maybe because I don’t even know how much constitutes “enough.”

I know most Americans are in the same boat, and — to top it off — Social Security is going broke. Since more than 30% of retirees count on Social Security for 90% or more of their monthly income, this is a huge problem.

But when it comes to financing retirement, at least we’re not Chinese. 

In the U.S., Social Security will exhaust its surplus by 2037. At that point, the program will bring in enough funds to pay roughly 75% of the promised benefits, leaving an average annual deficit of around $200 billion. To fix this, we will have to raise taxes, cut benefits, or some combination of the two.

China’s pension scheme will be underfunded by $116 trillion dollars by 2050, and will steadily get worse. The government currently has no plans for how to fix their problem, but a wealthy real estate magnate does.

This Clothing Company Made HOW MUCH???

They’re not heavily publicized… and few investors would consider this company a “hot stock.”

Yet they recently went on a profit run that would have made you 400% richer.
The craziest part is, there’s a very good chance you know the name of this company… and I’m willing to bet it would shock you to find out who it is.

I reveal the name… as well as which other overlooked stocks are poised to do the same, right here.

He is Meng Xiaosu, president of China’s largest state-owned property developer.
Instead of trying to wring new taxes out of the system, he proposes that Chinese retirees take out reverse mortgages on their homes.

These allow homeowners to take out loans against the equity they’ve built up in their homes in the form of monthly payments that last until they die, sell, or move out. At that point, the total of the payments plus interest are repaid using the equity in the home.

Since the Chinese hold 76% of their personal wealth in real estate, it only makes sense to tap this asset for retirement income. Except for one thing — to make such a program work, there must be new buyers in the years to come to keep home values up.

China currently has 1.3 billion people, with big population bulges in the 45- to 49-year-old range and the 25- to 29-year-old range. Younger age groups are markedly smaller because of the one-child policy. Over the next 35 years, demographers optimistically project the country’s population to remain flat, and then drop by 300,000 people from 2050 to 2090.
As I said, this is optimistic.

Today, Chinese women have an average of 1.6 children. It takes two children to replace both parents, so today the system builds in population reduction. The government recently relaxed the one-child policy, hoping to spur reproduction and slow the population decline, but so far the citizens don’t seem interested…
By holding families to only one child, the Chinese government inadvertently created a system where parents compete for everything for their children, from slots at university to spouses. All that fighting takes cash, so having more than one child would be quite the financial burden. 

If couples stay on their current track of having few children, then the rosy projections of a stable population will fade, and the number of Chinese will dwindle even faster than anticipated. Among the weird outcomes from a falling population will be fewer home buyers, a situation that Harry has written about several times concerning Japan. 

Fewer buyers should lead to lower home prices, which is a problem for the reverse mortgage industry.

In the U.S., reverse mortgages are guaranteed by the federal government (which means you and me), and there are strict limitations on the amount of equity that can be borrowed. We also have a gently rising population, so over time our real estate market should be at least stable.

In China, reverse mortgages are currently offered by just one company, an insurance firm, with no government backing. Granted, the market is minuscule today, with only 89 reverse mortgages outstanding. But there are 250 million elderly in China at the moment, a figure that’s expected to grow to 350 million over the next 35 years.

As the government looks for a way to pay for them all without breaking the bank, the reverse mortgage industry could take off… for a while.

However, when it becomes apparent that home prices can’t keep pace without the tailwind of population growth, the market should come crashing down.

Of course, reverse mortgages are just the latest twist in an already crazy Chinese property market. Easy credit has fueled speculative buying for years, causing a sizeable real estate price bubble that looks ready to pop.

In the end, the problem remains the same.
As populations age, the citizens transition from net producers to net consumers. Unless there are more workers added (meaning young people) that provide goods and services and pay taxes, or the older citizens have stored up an enormous amount of wealth, it will be almost impossible for the elderly population to maintain its standard of living.

Eventually, the Chinese government will get more involved, probably doing exactly what we must do here to fix our problem: lower benefits, raise taxes, or some combination of the two.

I’d imagine many people in China look at it the same way you and I do. They’re not sure how much is “enough” for retirement. But they’re certain the government will show up wanting more of what they have.

I’d better get back to work so that I can sock some more away.

Rodney

What We've Learned from Hiring 10,000 Veterans at Hilton

Chris Nassetta
President and CEO at Hilton Worldwide

November 3, 2016

Including the many military veterans I’ve worked alongside over my career, as well as my family members who have served, I’ve always been inspired by the men and women around the world who have dedicated their lives to protecting and serving their countries. Here in the United States, our veterans and their families have made tremendous sacrifices, and at Hilton, we are committed to ensuring they have a great career when they return home from service. This philosophy has always been a part of our DNA, and in 2013, we took our commitment to the next level with a big goal: to hire 10,000 veterans, spouses and dependents over the next five years.

Our logic was simple: we saw that approximately 10 percent of post-9/11 veterans were unemployed and active duty military were transitioning to civilian life at a rate of more than 250,000 per year. We had the chance to welcome these veterans and their family members into our company and to help them build lifelong careers with us, so we launched Operation: Opportunity as our way to be part of the solution.

Today we’re announcing that we’ve reached our Operation: Opportunity hiring goal two years early, and as we look to expand our military recruitment in the years ahead, I want to share five important lessons we’ve learned along the way that can benefit other businesses.

1.   Identify Common Ground

We’ve found that veterans don’t always think of a post-military career in hospitality, so we’ve been very proactive in terms of reaching out to them about opportunities in our company. But while a career in hospitality may not always be top-of-mind for veterans, there is significant overlap between our two “industries” – operating a hotel is very similar to operating a battleship or a base. Just like in those military environments, a hotel is a self-contained “village” in many ways, where everything from food to electricity can be produced onsite. By explaining how our business overlaps with their military experience, we’ve been able to help veterans understand that ours is not just an industry worth considering, but one in which they can thrive.

2.   Provide Tailored Resources and Support

Just like with any new employee, completing the hiring process is just the first step. We’ve found it’s particularly critical to provide tailored resources and ongoing support for our veteran Team Members who are transitioning to a civilian career, often for the first time.  Whether it’s offering reserve pay benefits or creating a dedicated Team Member Resource Group, it’s our responsibility to set them up for success. Even something small, like ensuring every veteran Team Member receives a pin denoting their branch of the military, can help them feel welcome and valued. I’ve been particularly proud of the response from our civilian Team Members, who have welcomed veterans and their families with open arms and deep respect.

3.   Veterans Need Short-term & Longer-term Civilian Career Opportunities

Retaining the people we’ve hired through Operation: Opportunity for the long-term is a big priority for us – one we’ve put significant resources behind. But we’ve also learned that a long-term career in the hospitality industry isn’t necessarily what every veteran wants or needs. Some just need a landing spot for a few years: a good job that helps them get settled upon their return from service, or civilian work experience that they can transfer to another industry or role. We believe we should support veterans and their families no matter what they’re looking for – whether that’s a shorter-term opportunity or a lifelong career in hospitality.

4.   Family Matters

Of course, veterans aren’t the only ones who have unique needs – the spouses and dependents of active duty military do incredible work supporting their families while their loved ones are deployed, and frequent moves can make it difficult to maintain career consistency. By offering flexible positions, including those that allow for working from home (for example, in customer service positions where the work is primarily conducted by phone), we’re proud that 10 percent of the hires we’ve made through Operation: Opportunity are spouses and dependents of active duty military and veterans. We’ll continue working to ensure these “hidden heroes” have the opportunity to build good careers alongside their spouses.

5.   Veterans Are Invaluable Assets

I think it’s important for everyone to understand that veterans are incredible assets for a company, and they bring highly transferable skills, experience and values – things like discipline, organization, problem-solving and teamwork. The most important lesson we’ve learned is the one we suspected from the beginning: hiring veterans is not just a matter of doing the right thing for the men and women who have served our country. As much as we’re helping them, they are doing even more to help us achieve our mission to be the world’s most hospitable company in every way possible.

As we approach Veterans Day this year, I want express our deep appreciation on behalf of Hilton to all our veterans and active duty military as well as their families. 

Written by

Chris Nassetta
Chris Nassetta
President and CEO at Hilton Worldwide

"Submit to God’s Correction"

08, October 2016

‘I … reprove and chasten.’ Revelation 3:19 AMP

God’s correction humbles us in ways we need to be humbled.  And when He does it, we have three options: (1) Rebel against Him. (2) Rationalize and make excuses. (3) Receive His correction and get back on track.

But lasting change can’t even begin until you accept that God loves you unconditionally and just as you are. Without that, you’ll keep trying to change yourself in a vain attempt to earn His love and acceptance. The truth is, you already have it—you just don’t know it!  Many of us think that by accepting ourselves we’re excusing all the things that are wrong with us. Not so!  You can’t properly receive God’s correction until you’ve a clear understanding of how much He loves you. Without that you’ll interpret His correction as rejection, and see His disapproval of your behavior as disapproval of you. To grow spiritually you must believe that God is committed to you, especially when He deals with you correctively and leads you in ways you don’t understand.  During such times you must have an unshakeable trust in His love for you. The apostle Paul was convinced that nothing could separate him from God’s love (See Romans 8:39).

In the third chapter of Revelation, God is speaking to each of us when He says, ‘Those whom I [dearly and tenderly] love, I tell their faults … convict and convince … reprove and chasten’ (Revelation 3:19 AMP).  One of the strongest evidences of God’s love and acceptance is His correction.  Indeed, you should be concerned about the absence of it! So if God’s correcting you right now, take heart and rejoice!  It means He has good things in store for you.