Jump to content

The global financial nuclear time bomb


Recommended Posts

Whatever.

https://www.npr.org/2023/01/05/1147067967/bed-bath-beyond-warns-that-it-may-not-keep-operating

Now Bed Bath & Beyond "has concluded that there is substantial doubt about the company's ability to continue as a going concern," the retailer said on Thursday. This means Bed Bath & Beyond has to consider all financial options, including restructuring, selling assets or going through bankruptcy. 

"These measures may not be successful," the company added. Its stock price dropped more than 20% as soon as markets opened.

 

Link to comment
Share on other sites

1 hour ago, Moonbox said:

If we're posting companies staffing changes as EvIdenNe of whether or not our economy is going to meltdown, does a list of companies doing tons of hiring negate that?  ? 

Sure, why don’t you post about these companies that are hiring 1000’s of workers.

So far, corporations laying off thousands is:  Amazon, Facebook, Twitter, Salesforce, Vimeo, Bed Bath & Beyond, and Macy’s.  Used Car places like Carvana are also taking a bath…

Link to comment
Share on other sites

Didn't think you had anything to back that up with...

 

And in other news.  How would you feel if you thought long and hard about it, and decided to withdraw your money out of a mutual fund while the economy figures out how big of a recession it's going to have.  You go online, or call up your bank, and the request to withdraw your funds gets declined.  Your own money, because the financial institution has other priorities.  How would you feel about that?

https://www.bnnbloomberg.ca/blackrock-halts-withdrawals-from-3-5-billion-uk-property-fund-1.1865696

 

Link to comment
Share on other sites

These layoffs are beginning to pile up, aren’t they?  Compass, a real estate Broker based in New York just announced another round of them.  
 

Previously they had laid off 1200 since last June, and they just cut another amount though they are not releasing the exact number.

In the US, the real estate market is in a major correction, as is the rest of their economy.  Another big loser is the automobile markets, both used and new.  The interest rate increases are decimating economic activity across the board.

These trends will and are beginning to be seen in Canada too.  

Link to comment
Share on other sites

On 1/7/2023 at 12:02 PM, sharkman said:

These layoffs are beginning to pile up, aren’t they?  Compass, a real estate Broker based in New York just announced another round of them.  

Pile-up into job growth to end 2022 you mean???  ?

https://www.theguardian.com/business/2023/jan/06/us-jobs-report-december-2022-economy

US added jobs overall in last economic update (December). 

https://www.theglobeandmail.com/business/article-december-jobs-unemployment-falls/

The same story in Canada. 

Cherry-picking news from individual companies might be seem compelling if have a doom-porn fetish, but that's all they're good for.  

  • Like 1
Link to comment
Share on other sites

40 minutes ago, Moonbox said:

Pile-up into job growth to end 2022 you mean???  ?

https://www.theguardian.com/business/2023/jan/06/us-jobs-report-december-2022-economy

US added jobs overall in last economic update (December). 

https://www.theglobeandmail.com/business/article-december-jobs-unemployment-falls/

The same story in Canada. 

Cherry-picking news from individual companies might be seem compelling if have a doom-porn fetish, but that's all they're good for.  

That's not what you said.  You said:

Quote

 ...does a list of companies doing tons of hiring negate that?  ? 

 

And you didn't provide any companies doing "tons" of hiring.  Those government friendly stats are just that, and will no doubt be adjusted downward as this thing gathers steam. 

Get back to me when you can provide individual companies doing tons of hiring as you said...

Link to comment
Share on other sites

So...what exactly is your argument here?  Overall job numbers don't matter because you can trawl the news feeds looking for examples of companies that laid people off?  

As for companies doing tons of hiring in 2022, look at Lockheed Martin, Northrop Grumman, General Dynamics, Chase, Deloitte and more.  

It's pretty goofy to be pointing at individual company layoffs as signs of the apocalypse when the economy is adding more than they're losing, by wide margins.  Fake news though, right?  Government-friendly statistics.... ?

 

 

  • Like 1
  • Confused 1
Link to comment
Share on other sites

Here’s some cherry picking for you, a Morgan Stanley stock warning.

https://www.marketwatch.com/story/morgan-stanleys-mike-wilson-warns-u-s-stocks-could-slump-another-22-if-recession-arrives-in-2023-11673291083

 

Oh and here’s Swiss Central Bank admitting they had a net loss of 143 billion.  Those job numbers look peachy though…

https://www.reuters.com/business/finance/swiss-national-bank-posts-record-143-billion-loss-2022-2023-01-09/

 

 

Link to comment
Share on other sites

2 hours ago, sharkman said:

Here’s some cherry picking for you, a Morgan Stanley stock warning.

https://www.marketwatch.com/story/morgan-stanleys-mike-wilson-warns-u-s-stocks-could-slump-another-22-if-recession-arrives-in-2023-11673291083

 

Oh and here’s Swiss Central Bank admitting they had a net loss of 143 billion.  Those job numbers look peachy though…

https://www.reuters.com/business/finance/swiss-national-bank-posts-record-143-billion-loss-2022-2023-01-09/

 

 

The Iraqi Minister of Propaganda above wants to ignore the weight of data and instead reel off several corporations without the numbers they hired, links or even just estimates.  Nice try moonbox, but you've got nothing.

Link to comment
Share on other sites

5 hours ago, sharkman said:

The Iraqi Minister of Propaganda above wants to ignore the weight of data and instead reel off several corporations without the numbers they hired, links or even just estimates.  Nice try moonbox, but you've got nothing.

That's not how companies post their hiring data, goof.  Lockheed doesn't go out and do a presser announcing, "We are hiring 20,000 people RIGHT NOW".  They do, however, exactly that with layoffs.  

As far as news articles go, you will find far more of sweeping layoffs at specific companies than of hiring, even when the job market is good (and it was near-record good in 2022).  

As for Lockheed, the best I know is they hired 20,000 people since 2020, with 10,000 in 2021.  They had 5000 open positions in the Spring, and just announced they're adding 500-600 workers at their Orlando campus. 

https://news.clearancejobs.com/2022/05/23/lockheed-martin-on-a-hiring-surge-offering-large-signon-bonuses-for-key-programs/

That's just one example, among many, that when all added up lead to net-positive jobs in December, despite your doom-porning.  

  • Like 1
Link to comment
Share on other sites

On 1/9/2023 at 11:04 PM, Moonbox said:

That's not how companies post their hiring data, goof.  Lockheed doesn't go out and do a presser announcing, "We are hiring 20,000 people RIGHT NOW".  They do, however, exactly that with layoffs.  

As far as news articles go, you will find far more of sweeping layoffs at specific companies than of hiring, even when the job market is good (and it was near-record good in 2022).  

As for Lockheed, the best I know is they hired 20,000 people since 2020, with 10,000 in 2021.  They had 5000 open positions in the Spring, and just announced they're adding 500-600 workers at their Orlando campus. 

https://news.clearancejobs.com/2022/05/23/lockheed-martin-on-a-hiring-surge-offering-large-signon-bonuses-for-key-programs/

That's just one example, among many, that when all added up lead to net-positive jobs in December, despite your doom-porning.  

Gosh, why do I have to point this out?  The one sector doing really well is military manufacturing, which is all of the companies that you listed.  Why do you suppose they are expanding, hmmm?  Could it be the war?  That Biden has shipped billions of military equipment to? 

And pushed the American government many billions more into debt to do it...so it's based on debt spending by Uncle Sam. 

Link to comment
Share on other sites

3 hours ago, sharkman said:

Gosh, why do I have to point this out?  The one sector doing really well is military manufacturing, which is all of the companies that you listed.  Why do you suppose they are expanding, hmmm?  Could it be the war?  That Biden has shipped billions of military equipment to? 

No, the whole economy has been adding jobs.  That's the point.  There's an explanation for every layoff, as well as for every hiring spree.  That Lockheed and Raytheon have benefited from the war is obvious, but all you asked was for companies that had done mass hiring.  Anyways, that's not why Chase hired thousands this year, or Deloitte or any other of the countless other companies who struggled to fill vacant jobs in 2022.  

Hundreds of thousands of jobs added in December, and you're pointing at individual companies underperformers like:

Wojak Pointing Sticker - Wojak Pointing Wojak Pointing - Discover & Share  GIFs

  • Haha 1
Link to comment
Share on other sites

Okay, it’s clear you are discarding my thoughts and warnings about a possible serious deep recession, because your sources, etc, are presenting a different picture.

How about Michael Burry?  The guy who made 100’s of millions betting that the financial crisis of 2008 was coming, when almost nobody agreed?  You might want to at least read what he’s saying about the economy.  Because he’s shorting like mad again…

But believe whatever makes you happy.

https://www.newtraderu.com/2022/12/25/michael-burrys-warning-for-the-2023-stock-market-crash/

 

Edited by sharkman
Link to comment
Share on other sites

13 hours ago, sharkman said:

Okay, it’s clear you are discarding my thoughts and warnings about a possible serious deep recession, because your sources, etc, are presenting a different picture.

I'm discarding your thoughts because they're not very reasonable.  If you had better data, I'd listen to it.  Instead, you're scouring the web for whatever individual cases of bad news you can find and conflating them to prove impending doom. 

13 hours ago, sharkman said:

How about Michael Burry?  The guy who made 100’s of millions betting that the financial crisis of 2008 was coming, when almost nobody agreed?  You might want to at least read what he’s saying about the economy.  Because he’s shorting like mad again…

Tons of people are shorting the market, because we're headed for a downturn.  If you can pick vulnerable, cyclical or overpriced segments of the market, you can make bank.  If you can provide an article or link where Michael Burry is predicting things are anywhere near as bad as you say, I'll read it with interest, but don't give me another link by some nobody commenting vaguely on what he thinks Michael Burry is thinking.  

Regardless, Michael Burry's predictions of crash have a pretty mixed record.  He absolutely nailed it in 2008, but he's been a non-stop bear ever since and can't seem to get himself out of that rabbit hole.  The one thing I do like about him is that he does tend to point out the really dumb bubbles, like TESLA or crypto etc.  

Edited by Moonbox
  • Like 1
Link to comment
Share on other sites

It sounds like you know better than Michael Burry, the guy that made 700 million in 2008 when everybody else was losing their shirts.  
 

He also predicted the bitcoin and cryptocurrency crash of 2022.  He also predicted the inflationary cycle we are presently in.  He also predicted the major downsizing of white collar jobs in the tech sector.  
 

Perhaps it’s time, moonbox, for you to trot out all of the major predictions that you’ve made that came true.  What’s that?  You’ve got none?  How is it then that you think you know better than Burry?  Take all the time you want…

Because Burry has made dire predictions about the DOW.  And other things that I won’t trouble you with.  

So why should I listen to you instead of Burry?  How many billions have you been responsible for?  Again, take all the time you want.

Edited by sharkman
Link to comment
Share on other sites

1 hour ago, sharkman said:

It sounds like you know better than Michael Burry, the guy that made 700 million in 2008 when everybody else was losing their shirts.  

First you have to show us what Michael Burry is predicting, specifically.  I already asked you to do that, and you can't.  The fact that he's shorting the market heading into a recession doesn't say much.  I am too, as are millions of other investors.  

Bitcoin is a worthless asset and Burry was one among millions predicting its crash.  He also predicted Tesla's crash, which I spent the summer warning my friend about when he pre-ordered 4 of those retarded Cybertrucks and loaded up on the stock.   

Give us some Michael Burry quotes to review, and we can comment on them specifically.  The problem you have on this forum is that you trawl the interwebs looking for headlines and one-liners that fit your narrative, and then you draw your own dumb conclusions on the articles without even reading them (apparently), because they usually don't even support what you're saying.  

Link to comment
Share on other sites

Wow, you’ve made that many predictions, eh?  I stand corrected, you really are a guru and…oh wait, you haven’t made any predictions.  And you aren’t responsible for billions either…
 

Then I guess you are not worth listening to, you are just cherry picking data online, what you accuse me of doing.  

Link to comment
Share on other sites

49 minutes ago, Moonbox said:

What did he say?  Can you tell us? 

"MICHAEL BURRY MICHAEL BURRY MICHAEL BURRY," is not an argument.  It's just you making noises.  

What did he say(Ahem, I already mentioned several things that he said)?  I know that as the Iraqi Propaganda Minister your English is not perfect, but I assumed you knew what google is. I think I should let you work through this one on your own, every victory gets you closer to the truth!

But if you still don’t know how to use google tomorrow, I’ll help you.  Make me proud!

Link to comment
Share on other sites

1 hour ago, sharkman said:

What did he say(Ahem, I already mentioned several things that he said)?

No, you didn't.  You posted the commentary of renowned nobody Steve Burns, from his personal blog, where he dredged up Michael Burry' warnings about index funds from September 2019, which not only was over three years ago, but also turned out very very wrong.  ?

Link to comment
Share on other sites

4 hours ago, sharkman said:

It sounds like you know better than Michael Burry, the guy that made 700 million in 2008 when everybody else was losing their shirts.  

He also predicted the bitcoin and cryptocurrency crash of 2022.  He also predicted the inflationary cycle we are presently in.  He also predicted the major downsizing of white collar jobs in the tech sector.  


Because Burry has made dire predictions about the DOW.  And other things that I won’t trouble you with.  

 

The above didn’t come from Steve Burns, I perused with google.  A simple read would have sussed that out for you.  Oh yeah, you don’t know how to use google.

Keep trying!! 
 

 

Link to comment
Share on other sites

The link you posted did, fool.  Your above quote is nothing but you telling us things about Michael Burry - none of it is Michael Burry telling us what he's predicting.  Show us what he says we're in store for, otherwise you're still just shouting

MICHAEL BURRY MICHAEL BURRY MICHAEL BURRY MICHAEL BURRY

1984371238_clappywojak.thumb.jpg.8680e56c9f129902d84a388a4b03ea9a.jpg

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Unfortunately, your content contains terms that we do not allow. Please edit your content to remove the highlighted words below.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Tell a friend

    Love Repolitics.com - Political Discussion Forums? Tell a friend!
  • Popular Now

  • Member Statistics

    • Total Members
      10,698
    • Most Online
      1,403

    Newest Member
    IPEM Group of Institutions
    Joined
  • Recent Achievements

    • Ethan Wylde earned a badge
      First Post
    • Yakuda went up a rank
      Experienced
    • QuebecOverCanada went up a rank
      Grand Master
    • Jeary went up a rank
      Rookie
    • Gator earned a badge
      Week One Done
  • Recently Browsing

    • No registered users viewing this page.
×
×
  • Create New...