 reading this morning over the weekend some stories of about a CPA shortage in the United States. It turns out that accounting firms cannot find enough talent, university programs cannot attract enough students, but even when they attract the students, even when students actually go in and when students actually go in and study accounting, it turns out that they don't they don't want to go into the accounting field afterwards. So many of them are going into consulting, going into banking, going other routes, rather than going into tax accounting, corporate accounting, other forms of accounting, and working for the big or medium-sized accounting firm. And there is a massive shortage. For years, salaries didn't go up. Accounting firms have this tendency certainly around tax season, but also around year-end quarters, end of quarters for corporate accounting, and so on, to really require that young accountants coming out of college work 80, 90 hours a week. It's very similar, even worse, I'd say, in the investment banking industry, but the difference is that most of the stuff that the accountants do by their own account is boring. And so you get a boring job, you get very, very long hours, you don't really get wages that fully account for that, at least not until now. I think Salvi's going up dramatically now. The work is not that interesting, why you can progress and you can advance there are limitations in the work. I don't know that it gets that much interesting, although I know a lot of people start out in accounting and then go into all kinds of fields from there, so it is a launchpad for other things. You finish a degree that takes a long time, requires a lot of credits, requires a lot of time at school, and then you have to take a test, you have to qualify as a CPA, so the fact that you have an undergraduate degree is not enough. It's a hard work, it's an enormous amount of work, and they're just not a lot of people willing to do that. Now we'll talk about another worker shortage in a minute, which is very relevant to the American economy, but as the state of course becomes, as we regulate businesses more, as the government controls more, as we create more complexity in the tax code, we need more accountants. As one of the things we learned, for example, with FTX is if firms skimp on accountants, if firms skimp on accounting, particularly young, cool, dynamic, crypto firms, then bad things, it's easy for bad things to happen, and that's what happened with FTX, and who knows in how many other places. So the bad news is for a lot of legitimate businesses, for a lot of us who have tax accountants doing our taxes, things are going to get delayed more, things are going to be slower, and the existing accountants, the accountants that are around today, are going to be working even longer hours than they have in the past, that is the burden is only going to increase because the fact is that even as accounting firms are now starting to raise salaries, they're not raising them yet, as far as I can tell from the stories I'm reading, they're not raising them yet enough, and it's still true that salaries are going up in other areas as well, and other areas are quite attractive. Accounting firms are going to have to do something pretty dramatic here and drastic to raise accounting salaries to supply and demand, to attract more accountants to it, and maybe figure out how to loosen the load or create something else to make these jobs more attractive, maybe give them more variety, give them more exposure to a variety of different areas within their accounting firm so that they don't get bored quite as fast, and again it's on me saying it's boring, it's what the accounting students are saying as a reason for not actually taking a job in accounting. John, as a Super Chat that's relevant, so I'm going to take it quickly, he says 150 credits to Factor or Master's degree to be a CPA is ridiculous, I agree, you know, big force surpassing wages for two decades, zoomers hate long hours, yes generally I think that's true, it's boring, John said that not me, I know some of you get upset when I say accounting is boring, zoomers hate long hours, it's boring, the PCAOB is a terrible regulator, I wonder who's a good regulator John, I mean I don't know anything special about the PCAOB but all regulators are terrible, but I make a lot of money consulting now, yes, consulting, I'm curious if you're consulting on accounting or consulting on something else, business accounting, what exactly else are you doing, so that's from John, he sounds like a former accountant, a former disgruntled accountant. Now the good news of this is, and somebody in the chat has already picked up on this, the good news in this is for all of you who are panicking and hysterical about the expansion of the IRS, you can calm down really, I mean $80 billion, $80 billion additional budget for the IRS is really bad and horrific and awful and so on, but the idea that they're going to hire what it was, $78,000, $87,000, $50,000 whatever, new workers to audit you at the IRS is a, I won't call it a joke because if it is it's a pretty nasty joke, but it is a joke, I mean where are they going to find, where are they going to find 87,000 accountants, where they are going to find the manpower to be able to bring into the IRS to audit all of you. KPMG, the big accounting firms are now finding the talent, where's the IRS going to find the talent? By the way, IRS is about to hire a new, I guess, leader or whatever, I'm not sure what the exact title is called, chief executive, somebody who did the job on an interim basis in 2013 under the Obama administration, Danny Werfel, it'll be interesting to see what he does. He's going to go in and suppose he completely reorganize the agency including hire the additional IRS agents, but again, I mean the first thing that struck me when I saw the fact that so many accountants are quitting that they can't hire enough of them, all of that, I mean the first thing that struck me is good luck, IRS. I mean as it is, it was planned to do it over five years, but they're not going to be able to get, you know, 15, 16, 17,000 a year over the next five years, it's just not happening, there's just not enough accountants available. So that is the good news, the good news is there are less accountants available for the government to dig into our taxes and to try to get us. All right, let's see, so that is, you know, a little story about the accounting profession, but I think the important thing for us is IRS is going to struggle. Thank you for listening or watching the Iran book show. If you'd like to support the show, we make it as easy as possible for you to trade with me. You get value from listening, you get value from watching, show your appreciation. You can do that by going to iranbookshow.com slash support by going to Patreon, subscribe star locals and just making a appropriate contribution on any one of those, any one of those channels. Also, if you'd like to see the Iran book show grow, please consider sharing our content and of course subscribe, press that little bell button right down there on YouTube so that you get an announcement when we go live. And for those of you who are already subscribers and those of you who are already supporters of the show, thank you. I very much appreciate it.