The word “gloomier” inconveniently shows up to describe CEOs’ outlook.
The Fed’s policies have rewarded financial engineering at the expense of job creation.
Reader speaks up: “Those 2 years of unemployment were the darkest moments of my life.”
A whole system with convenient low-cost tools.
“Lies, Damn Lies, and Statistics”
Tech companies are on a white-hot acquisition binge, swallowing anything that isn’t nailed down. But layoffs have started soaring. And it’s getting worse.
35,000 M&A deals will likely be made this year, promising “efficiencies” and “synergies,” hence job cuts. So Microsoft, which bought Nokia’s handset unit, is planning the largest in its history…. The M&A frenzy of 2007/8 was followed by the Great Jobs Crisis!
‘Hours Worked’ plunged in the second quarter at a rate last seen during the middle of the Great Recession, a terrible harbinger of GDP.
About that jobs report? I won’t quibble over the details. Companies have been hiring. OK, the number of full-time workers plunged and involuntary part-timers who want to be full-timers soared, but hey.
It’s been glorious: global M&A in Q2 soared 47% to $1 trillion, highest since 2007, just before the financial crisis. But in California, 30% of the people making less than $40k were in worse financial shape than last year, despite all the bubbles around them.