All those assholes taunting “showtime!” earlier this year as they made a show of laying off tens of thousands. Turns out they were just a bunch of cowards who would sacrifice the business for the sake of their own bonus at the slightest threat. So much for a looming recession. The only calamity happened in the tech industry, which is now exposed to be under the leadership of a handful of thieving cowards who do not care about providing any benefit to society, and will happily ruin the lives of thousands of people they work with, just for personal PR.
Cant say mortgage rates are down to 3%….
We’re in September 2007 all over again. People were saying exactly the same things. Bernanke and the news claimed a crisis was avoided, stocks went up. We’re not even started yet.
Don’t feel sad about layoffs removing all risk taking in big tech. That’s how new startups grow.
The rate of INFLATION IS ONLY INCREASING BY 3 percent != inflation being at 3 percent
Inflation itself is 3% over 12 months. Not the differential, which is negative
They changed the way inflation is calculated in January to look back 1 year instead of 2. They did this to make inflation look lower than it is. 3% increase over Oct 2022 (which was already high compared to Oct 2021). Inflation is much higher than 3 using the proper 2 year comparison. The total inflation rate from Oct. 2021 to Oct. 2023 is 11.24%.
Meanwhile their bonuses skyrocketing and their behavior shows zero empathy and no accountability for their bad actions