Is the economy heading off a cliff?
It seems like the economy is seriously breaking all across the board with no positive signs as far as I can see. * Apple just announced a double digit drop in iPhone sales * Starbucks and McDonalds reported a drop in sales * Big tech is laying off with no end in sight * The best tech employers have switched from investing heavily in innovation and new product growth to cost cutting via offshoring * SWE job postings are down 70% year/year and other tech roles PM/TPM/etc down even worse * higher interest rates seem here to stay since inflation doesn’t seem to be going away resulting in a 70’s style stagflation Question: is this just another recession or is it the start of something much worse?
Yeah, pretty much fucked. The geriatic elite will create wars everywhere over the next decade and continue to eat the young. Buy Bitcoin and rear children.
Biden is actively fking the economy just to get re-elected, nuff said. Signs of recession are all around us, yet we keep hearing the economy is doing fine.
Yes. We’re quickly approaching a point in time when things are getting visibly worse all across the board. Tech was just the start, and other industries are quickly falling. If you have principles like I do, now is the time to dig your heels in and not compromise for anything. Just focus on improving yourself and your career and everything will work out. TC: 105K
Very first world thinking to equate drop in iPhone sales to anything meaningful. It's been all a big marketing stunt. No one needs a new an iPhone every year
I noted the drop in iPhone sales as it is by far Apple’s largest source of revenue. It would be similar to Google seeing a drop in AdWords revenue (which I also foresee coming) Granted, this is very much a first-world problem coming from a first world perspective which makes sense since that is where I live.
??!!
Just tech. 🥲
Average Americans are actually very poor and saddled with debt.
Banks and lenders are too greedy, and this is trickling down to consumer goods and retail as well as rent-seeking institutions. The rich can wait it out, but the poor will get squeezed hard. They might break.
Areas outside of tech and biotech are still doing quite well. This is just the hangover from the covid boom.
Which areas are doing quite well specifically?
lmao. About to ask the same. NO well paying jobs in ANY industry (except medicine). No wonder everybody decided to be an SWE and go to a bootcamp a few years back.
Nothing to worry about just take the vaccine - it's safe AND effective! Trust the science!