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.
The equation might not have gone so horribly awry if each class of graduates had seen their incomes skyrocket in line with their student debt. But that’s a crummy joke in America.
By James Murray: 30 years ago, if you’d told me I’d go to a fast-food joint, order on a tablet, and eat a machine-made burger, I would have said, “No way.” And today?
New Zealand’s central bank didn’t follow the Fed’s lead in monetary policy that favors capital over labor, Wall Street over savers, at any cost.
It didn’t even start with the financial crisis. It started before the 2001 recession. But the strategy exploded in 2009, and it’s still getting worse.
A very inconvenient chart. Inconvenient for the Fed – it turns their rhetoric upside down.