Financial Turmoil Abound

[jbett98]

It's like 2008 all over again.

 

[Longwalkhome]

It's like 2008 all over again.

Much worse than 08, we are $33 trillion in debt and paying $1 trillion just in interest payments on the debt.

 

[made in china]

Much worse than 08, we are $33 trillion in debt and paying $1 trillion just in interest payments on the debt.

I agree, the system is being manipulated to delay the inevitable, but just making the eventual crash hurt more. It's a final cash grab for the connected and elites, all the printed cash turns into real assets for the elites, and crushing debt for the rest of us....

 

[arakboss]

A LOT of people who see the price on things like food, gas, rent, going up and away voted for it and want to tell themselves all is fine. So many of them who were already just making it of course now use credit. To them its nothing to worry about because they figure when they crash someone will just bail them out again. The only way well will see real change is when a LOT of people start to feel a LOT of pain sadly.

 

[Alexx1401]

It's like 2008 all over again.

People have learned to have amazingly short memories. Mainly due to so few feeling so little real pain for the choices they make. Why learn from past mistakes if those mistakes are just smoothed over and nothing really happens? The big catch of course is when those bail outs come they only ask one thing from those who get hand outs. Loss of freedom. Too many will hold their hand out and gladly give up more freedom for the promise of being taken care of

 

[Longwalkhome]

People have learned to have amazingly short memories. Mainly due to so few feeling so little real pain for the choices they make. Why learn from past mistakes if those mistakes are just smoothed over and nothing really happens? The big catch of course is when those bail outs come they only ask one thing from those who get hand outs. Loss of freedom. Too many will hold their hand out and gladly give up more freedom for the promise of being taken care of

Fear will be the actual cause of the loss of freedom. Fear runs the government, media and the population, Fear runs the world. Until men learn to be brave again this is our world.

Alarm! 3rd Consecutive Year Of Negative Returns On 10-year Treasuries Which Has Never Happened In History (10Y Yields Up 308% Under Biden, Mortgage Rates Up 156%)

freerepublic.com

 

[Alexx1401]

Fear will be the actual cause of the loss of freedom. Fear runs the government, media and the population, Fear runs the world. Until men learn to be brave again this is our world.

Alarm! 3rd Consecutive Year Of Negative Returns On 10-year Treasuries Which Has Never Happened In History (10Y Yields Up 308% Under Biden, Mortgage Rates Up 156%)

freerepublic.com

That is exactly what I mean. If people fear they will not have stability money wise and gov comes along and promises to make sure they do not go without? Just hand us freedom and we will take care of you? A LOT will gladly give up free choice. People no longer long for freedom, they long for someone to take care of them. Freedom means you have to pay the price for poor choices. That's no damn fun.

 

[arakboss]

I was watching CNBC the other day and one of the bearish contributors mentioned how layoffs can start out slow and then reach some tipping point where they just take off big time. So far most layoffs have been in the tech industry. Workload at my primary job (industrial) has definitely tapered off. I wonder if 2024 will see an acceleration of layoffs.

US Steel announces plans to lay off hundreds at southern Illinois mill | Fox Business

Up to 1,000 jobs are on the chopping block for U.S. Steel Corporation's Granite City Works mill in southern Illinois, the company announced this week.

www.foxbusiness.com

 

[Alexx1401]

I was watching CNBC the other day and one of the bearish contributors mentioned how layoffs can start out slow and then reach some tipping point where they just take off big time. So far most layoffs have been in the tech industry. Workload at my primary job (industrial) has definitely tapered off. I wonder if 2024 will see an acceleration of layoffs.

US Steel announces plans to lay off hundreds at southern Illinois mill | Fox Business

Up to 1,000 jobs are on the chopping block for U.S. Steel Corporation's Granite City Works mill in southern Illinois, the company announced this week.

www.foxbusiness.com

Since no one seems to have a working crystal ball? These things do follow easy to see patterns though. If we set out to really screw things up? Not much more we could do that we are not doing right now. When it happens it happens and course correct happens again. The same people who made the mess will step up to camera's to say they were here to fix it.
People will vote for them again and get what they asked for again.

 

[arakboss]

Downturn just got real for my eldest son. He just informed me that he got laid off from his tech job with one months severance. He was expecting a big year end bonus which he won't get now. Convenient timing for the company.

 

[bradsteen]

Downturn just got real for my eldest son. He just informed me that he got laid off from his tech job with one months severance. He was expecting a big year end bonus which he won't get now. Convenient timing for the company.

That sucks, man. If he needs any support finding a new role please shoot me a PM.

 

[arakboss]

That sucks, man. If he needs any support finding a new role please shoot me a PM.

Appreciate that, he is a very smart kid and I trust that he will get back on the horse soon. He is pretty upset about not getting a cut of the bonus as they did bang up numbers over black friday week.

I imagine he can relate to this scene.

 

[arakboss]

His lay off might inspire me to lay off the gun purchases for a bit. I have one more pistol I am buying tomorrow and an open offer on an upper but after that I may take a breather. I need to save up some money for tax bill anyways.

That means more deals available for the rest of you guys.

 

[CamoDeafie]

His lay off might inspire me to lay off the gun purchases for a bit. I have one more pistol I am buying tomorrow and an open offer on an upper but after that I may take a breather. I need to save up some money for tax bill anyways.

That means more deals available for the rest of you guys.

Gun show McMinnville this weekend, another the weekend after (Dec 9th-10th) in Rickreall

On a serious note, a friend of mine got let go from a call center after only a month working there. Seems more companies are letting people go right before end of year...

 

[arakboss]

Gun show McMinnville this weekend, another the weekend after (Dec 9th-10th) in Rickreall

On a serious note, a friend of mine got let go from a call center after only a month working there. Seems more companies are letting people go right before end of year...

I hope that CNBC contributor isn't right about a tipping point coming next year. We have been spoiled with a super low unemployment rate for a while now.

 

[arakboss]

Once a Bay Area unicorn, $1B company to fold with few houses built

Veev, which has built homes in San Jose and Palo Alto, is planning to close. The Bay Area-based company was once valued at over $1 billion.

www.sfgate.com

Pending home sales drop to a record low, even worse than during the financial crisis

Mortgage rates in October rose sharply, with the average on the 30-year fixed loan briefly eclipsing 8%.

www.cnbc.com

 

[arakboss]

Broadcom to lay off over 1,200 Bay Area tech workers following $69B VMware deal

Broadcom to lay off over 2,000 employees after acquiring Bay Area tech company VMware in a $69B deal.

www.sfchronicle.com

 

[CamoDeafie]

I hope that CNBC contributor isn't right about a tipping point coming next year. We have been spoiled with a super low unemployment rate for a while now.

Here's the thing. That unemployment rate only takes into account these factors;

# of workers on unemployment

# of workers actively seeking jobs or registered with State employment offices as "job seekers".

Doesn't account for workers ineligible for unemployment, nor for workers not actively searching for jobs.

Also employment numbers doesn't always account for workers who are part timers, or side gigs workers, or self-employed, or doing things that's not always above board.

 

[arakboss]

Here's the thing. That unemployment rate only takes into account these factors;

# of workers on unemployment

# of workers actively seeking jobs or registered with State employment offices as "job seekers".

Doesn't account for workers ineligible for unemployment, nor for workers not actively searching for jobs.

Also employment numbers doesn't always account for workers who are part timers, or side gigs workers, or self-employed, or doing things that's not always above board.

I get all of that but given the amount of help wanted signs I have seen in recent years, I believe the unemployment rate for those who wanted to work has been low.

 

[arakboss]

My son is not alone.

CNBC Search : Find stock quotes, news, videos and more

CNBC Search : Find stock quotes, news, videos and more

www.cnbc.com

Layoffs.fyi - Tech Layoff Tracker and Startup Layoff Lists

[LIVE] Tracking all tech startup layoffs — and lists of employees laid off — since COVID-19. This page is constantly being updated.

layoffs.fyi