Big Tech CRISIS – AMZN Lays Off More
“Amazon is laying off another 9,000 workers.”
“One might be tempted to shrug this off, except it comes after the company laid off 18,000 just a few months ago.”
“In other words, Amazon isn’t just cutting costs. It feels that it needs to go much, much farther.”
Credit Suisse’s HIGH RISK rescue
“The banking crisis has finally arrived.”
“Credit Suisse has finally thrown in the tower. UBS is purchasing the Swiss giant in a desperate attempt to halt the collapse.”
Wall Street: “Nothing to see here, move along!”
“There’s a particular meme-worthy scene from The Naked Gun that comes to mind right now.”
“After a car crashes into a fireworks factory, there are explosions everywhere. As the spectacle rages in the background Lt. Frank Drebin assures the crowd, ‘Nothing to see here!'”
“That’s basically the banking sector right now.”
FDIC Upping The Ante…
“They are going double or nothing.”
“According to Rep. James Clyburn (D-SC), the FDIC is going to become even more active when it comes to protecting depositors.”
Icahn: We Absolutely Have A MAJOR Problem
Moody’s ranked the entire American banking system as negative yesterday. Yet the Dow was up more than 1%… and the tech-heavy NASDAQ was up more than double that. It sure doesn’t seem like a collapse. Regional banks were also coming back strong, with First Republic on an absolute rampage, gaining almost 27%. My read… the stakes are […]
Inflation data ready to ROCK Fed
“The next inflation report is hitting at perhaps the worst possible time.”
“Futures are up going into this morning, under the (mistaken) assumption that the Fed is going to have to call retreat on interest rates because of the recent bank failures.”
The Silicon Valley Crisis of Credibility
“Today is about credibility.”
“The Treasury Department, the White House, and the Powers That Be are telling us the crisis is over. Today we will find out.”
GM trying to pay workers to leave
“What is the psychological meaning of a ‘payoff’?”
“GM is trying to pay off more than half of its salaried employees.”
“That’s just after it announced it is laying off 500 people.”
When Good News Is Bad News
Good news is bad news.
We finally got some hard data on the jobs situation, and the picture is better than expected.
Which is, you know, worse than expected.
You have been WARNED
“We can’t say we haven’t been warned.”
“Federal Reserve Chairman Jerome Powell did exactly what “Mr. X” predicted – presented a grim picture of the steps needed to stop inflation.”
“‘Although inflation has been moderating in recent months, the process of getting inflation back down to 2% has a long way to go and is likely to be bumpy,’ he said.”