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(CNBC)   Tomorrow, Wall Street is hoping everyone gets fired   (cnbc.com) divider line
    More: Murica, Monetary policy, Inflation, Unemployment, Fed tightening, Bad news, Central bank, inflation problem, recent days  
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1348 clicks; posted to Business » on 06 Oct 2022 at 6:13 PM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



33 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-10-06 5:45:20 PM  
We're reaching the point in the business cycle where every piece of bad news, the worse the better (as it were), results in a stock market upswing because everybody knows it means the Fed will reduce interest rates.

JPow is talking a big game, but other than Volcker, they've appeared to be a one trick pony and I'd bet they're just itching to run that play some more - it's the only one they know.
 
2022-10-06 6:15:37 PM  
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2022-10-06 6:17:55 PM  
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2022-10-06 6:22:39 PM  
CEOs make a zillion dollars: I sleep
Workers eke out a few more bucks: Real shiat
 
2022-10-06 6:43:32 PM  
Has anyone considered cutting CEO pay? Really? No one?
 
2022-10-06 6:48:26 PM  

Sliding Carp: We're reaching the point in the business cycle where every piece of bad news, the worse the better (as it were), results in a stock market upswing because everybody knows it means the Fed will reduce interest rates.

JPow is talking a big game, but other than Volcker, they've appeared to be a one trick pony and I'd bet they're just itching to run that play some more - it's the only one they know.


Well, it's a bank. They can't tell China to stop shutting down, they can't make Saudi Arabia pump more oil, they can't make people stop shopping for things that can't be produced except by making it too expensive to borrow money.
 
2022-10-06 6:51:50 PM  
In normal times, strong job gains and rising wages would be considered a good thing. But these days, they're exactly what the U.S. economy doesn't need.

If this is literally the first key point then we kinda need to rethink our economy.  Maybe one that isn't dependent on wage slavery and wage theft to 'thrive'.
 
2022-10-06 7:01:32 PM  
Time to start printing those 1000 dollar bills again
 
2022-10-06 7:13:27 PM  

SolderGlob: In normal times, strong job gains and rising wages would be considered a good thing. But these days, they're exactly what the U.S. economy doesn't need.

If this is literally the first key point then we kinda need to rethink our economy.  Maybe one that isn't dependent on wage slavery and wage theft to 'thrive'.


Fark user imageView Full Size
 
2022-10-06 7:25:33 PM  

King Something: SolderGlob: In normal times, strong job gains and rising wages would be considered a good thing. But these days, they're exactly what the U.S. economy doesn't need.

If this is literally the first key point then we kinda need to rethink our economy.  Maybe one that isn't dependent on wage slavery and wage theft to 'thrive'.

[Fark user image 618x415]


America's Unemployment Problem
Youtube ZUbiGS7_oqM
 
2022-10-06 7:38:23 PM  
Didn't we lose something like 1% of the workforce to COVID deaths in the past two years? I guess nobody is taking this into consideration when we see low unemployment numbers.

/1.1MM deaths, 350MM total US population
//taking out the bottom and top 20% as too young or too old to work
 
2022-10-06 7:51:57 PM  
Jobs aren't the problem.  The $30 trillion debt pile is the problem.  Without rate hikes they're looking at more inflation.  Maybe a lot more.
 
2022-10-06 7:53:32 PM  
Fark user imageView Full Size
 
2022-10-06 8:08:08 PM  
We can't have so many employed and well paid plebes, it will positively ruin this Gilded Age throwback world we're living in.

I swear none of these farkers have read history to see how this ends up. Eventually, more people are going to snap.
 
2022-10-06 8:12:10 PM  
Give it enough time at this rate and it will collapse again. And likely be worse then 2008 while doing it. I finally got a job that lets the wife and I live comfortably and I'm not looking forward to it. I only hope my current company will offer to hire me back after it passes as for 40 hours a week paid they still only pull in about 24 a week for me.
 
2022-10-06 8:14:08 PM  

togaman2k: Didn't we lose something like 1% of the workforce to COVID deaths in the past two years? I guess nobody is taking this into consideration when we see low unemployment numbers.

/1.1MM deaths, 350MM total US population
//taking out the bottom and top 20% as too young or too old to work


Not to mention the number of people taking better than normal retirement packages when Covid first hit, or people leaving the workforce to look after kids and haven't come back, or people going back to school because their industry shut down, or the people effected by Covid who are now on disability, or the reduction in immigration (legal and illegal)....  No, I think it's nobody wants to work anymore
 
2022-10-06 8:14:16 PM  
And I'm hoping that everyone on Wall St. gets murdered tomorrow.
 
2022-10-06 8:17:16 PM  
Good news isn't good. People making more money isn't good.

When is everyone just going to acknowledge "The Economy" is completely made up bullshiat?
 
2022-10-06 8:26:14 PM  

Karma Chameleon: Good news isn't good. People making more money isn't good.

When is everyone just going to acknowledge "The Economy" is completely made up bullshiat?


The economy (market) is, and always has been, a social construct.
 
2022-10-06 8:51:13 PM  

Ray_Finkle: togaman2k: Didn't we lose something like 1% of the workforce to COVID deaths in the past two years? I guess nobody is taking this into consideration when we see low unemployment numbers.

/1.1MM deaths, 350MM total US population
//taking out the bottom and top 20% as too young or too old to work

Not to mention the number of people taking better than normal retirement packages when Covid first hit, or people leaving the workforce to look after kids and haven't come back, or people going back to school because their industry shut down, or the people effected by Covid who are now on disability, or the reduction in immigration (legal and illegal)....  No, I think it's nobody wants to work anymore


Or the cutting off of immigrant labor (ie cheap in construction, food service, labor....) due to stupid Republican policies
 
2022-10-06 9:04:39 PM  
Good for Wall Street is entirely different from good for the country. The writer is sniffing CEO farts.
 
2022-10-06 9:15:09 PM  
"I want Americans to earn more money. I want families to have more money to put food on the table. But it's got to be consistent with a stable economy, an economy of 2% growth" in inflation, Minneapolis Fed President Neel Kashkari said Thursday during a Q&A session at a conference. "Wage growth is higher than you would expect for an economy delivering 2% inflation. So that gives me some concern."


Maybe you should have told Trump and Brandon that letting covid run rampant from now to eternity would have severely negative consequences for the health of the remaining workforce? Like, you know what happens when supply goes down, right? So what happens when you kill off, disable, or drive into retirement about 10% of the pre-2020 workforce?

Until these farking morons deal with this extremely obvious problem you will see no substantial economic improvement. You know what the most ironic thing of all is? From the beginning we were told that stopping covid would mean we create a recession. Meanwhile the Fed has been trying in futility to orchestrate a recession by destroying companies one bip at a time. Wouldn't it just make more sense to adopt zero-covid now and kill two birds with one stone?

I just realized I'm old enough to run for president. If y'all vote for me I promise to reduce the US nuclear and conventional arsenal by 90% in my first year by carpet-bombing every single US city that refuses to reduce covid transmission in accordance with CDC masking guidelines. I promise also to do away with rapid self-testing and instead opt for rapid execution of any persons found not wearing a mask in public while in violation of CDC's 1 case per 1Mpop guidance for their community. To finish the job, legal immunity will be provided for the death militia protocol, a specialized command of elite military forces who will scour every other non-irradiated square mile of the country eradicating every single covid-positive man, woman, child, and animal.

Look folks, come 2024 a vote for me is a vote for the American economy, the American worker, American military supremacy, and health and prosperity for everyone in this great nation. Middle class, poor, rich, black, white, Latinx, native, and immigrant. If we all pitch in and do our own small part we can beat this thing and get America back on track. And that's a fact, Jack!
 
2022-10-06 10:04:55 PM  

Stibium: "I want Americans to earn more money. I want families to have more money to put food on the table. But it's got to be consistent with a stable economy, an economy of 2% growth" in inflation, Minneapolis Fed President Neel Kashkari said Thursday during a Q&A session at a conference. "Wage growth is higher than you would expect for an economy delivering 2% inflation. So that gives me some concern."


Maybe you should have told Trump and Brandon that letting covid run rampant from now to eternity would have severely negative consequences for the health of the remaining workforce? Like, you know what happens when supply goes down, right? So what happens when you kill off, disable, or drive into retirement about 10% of the pre-2020 workforce?

Until these farking morons deal with this extremely obvious problem you will see no substantial economic improvement. You know what the most ironic thing of all is? From the beginning we were told that stopping covid would mean we create a recession. Meanwhile the Fed has been trying in futility to orchestrate a recession by destroying companies one bip at a time. Wouldn't it just make more sense to adopt zero-covid now and kill two birds with one stone?

I just realized I'm old enough to run for president. If y'all vote for me I promise to reduce the US nuclear and conventional arsenal by 90% in my first year by carpet-bombing every single US city that refuses to reduce covid transmission in accordance with CDC masking guidelines. I promise also to do away with rapid self-testing and instead opt for rapid execution of any persons found not wearing a mask in public while in violation of CDC's 1 case per 1Mpop guidance for their community. To finish the job, legal immunity will be provided for the death militia protocol, a specialized command of elite military forces who will scour every other non-irradiated square mile of the country eradicating every single covid-positive man, woman, child, and animal.

Look folks, come 2024 a vote for me is a vote for the American economy, the American worker, American military supremacy, and health and prosperity for everyone in this great nation. Middle class, poor, rich, black, white, Latinx, native, and immigrant. If we all pitch in and do our own small part we can beat this thing and get America back on track. And that's a fact, Jack!


I'm still on the fence about who to vote for in 2024.
 
2022-10-06 10:37:36 PM  

Alaskan Yoda: I'm still on the fence about who to vote for in 2024.


To take the great American public health victory of water fluoridation on step further, I promise to amend federal water quality regulations to include LSD.  I will also propose federal subsidies for psychedelic mushrooms as a source of protein in plant-based meat substitutes and as an adjunct for marijuana-based pork feed. And one more thing, I promise to solicit Congress to amend the law to allow Coca-Cola to include cocaine into it's products once more.

Friends, with each and every one of your votes we can be one step closer to solving America's mental health crisis, one intoxicatingly delicious plant and/or meat-based Mc'Rib and Coke at a time!

See you at the polls in '24!
 
2022-10-06 11:16:43 PM  

togaman2k: Didn't we lose something like 1% of the workforce to COVID deaths in the past two years? I guess nobody is taking this into consideration when we see low unemployment numbers.

/1.1MM deaths, 350MM total US population
//taking out the bottom and top 20% as too young or too old to work


Same thing happened to Japan in the aughts when all the war boom babies retired.

Low unemployment to lack of wage slaves, uh, workers, was going to happen with or without COVID.

And just like Japan, U.S. shareholders and economy assclowns are upset that the flow of drones is drying up, and are deflecting blame on an inevitably of more worker power.

They want another 08 recession. They want all the small fish to die, the big fish to eat the corpses, and form up even more fiant piles of money, and they will stomp out the working people any way they can. Whether by laws, crashes, government funded charity drives to the stock market, they want every blood covered cent.
 
2022-10-07 1:54:05 AM  

Samsquantch: Has anyone considered cutting CEO pay? Really? No one?


Not possible. The world would break and all the unicorns would die. You want that on you're hands?
 
2022-10-07 7:33:17 AM  

RedVentrue: Samsquantch: Has anyone considered cutting CEO pay? Really? No one?

Not possible. The world would break and all the unicorns would die. You want that on you're hands?


Tired of pretending and it's a risk most of us are willing to take...

Fark user imageView Full Size
 
2022-10-07 10:46:04 AM  

Samsquantch: Has anyone considered cutting CEO pay? Really? No one?


Sit at home stock owners are doin purdy good too.
 
2022-10-07 10:46:50 AM  

Sliding Carp: We're reaching the point in the business cycle where every piece of bad news, the worse the better (as it were), results in a stock market upswing because everybody knows it means the Fed will reduce interest rates.

JPow is talking a big game, but other than Volcker, they've appeared to be a one trick pony and I'd bet they're just itching to run that play some more - it's the only one they know.


Shes rotting from within
 
2022-10-07 10:51:19 AM  

Bith Set Me Up: [Fark user image image 802x816]


Bernie sanders has been preaching this for 20 years and its only getting worse.

No one is listening
 
2022-10-07 11:01:20 AM  

Some Bass Playing Guy: Good for Wall Street is entirely different from good for the country. The writer is sniffing CEO farts.


Or

The writer owns the right stocks
 
2022-10-07 11:07:20 AM  

Alaskan Yoda: Stibium: "I want Americans to earn more money. I want families to have more money to put food on the table. But it's got to be consistent with a stable economy, an economy of 2% growth" in inflation, Minneapolis Fed President Neel Kashkari said Thursday during a Q&A session at a conference. "Wage growth is higher than you would expect for an economy delivering 2% inflation. So that gives me some concern."


Maybe you should have told Trump and Brandon that letting covid run rampant from now to eternity would have severely negative consequences for the health of the remaining workforce? Like, you know what happens when supply goes down, right? So what happens when you kill off, disable, or drive into retirement about 10% of the pre-2020 workforce?

Until these farking morons deal with this extremely obvious problem you will see no substantial economic improvement. You know what the most ironic thing of all is? From the beginning we were told that stopping covid would mean we create a recession. Meanwhile the Fed has been trying in futility to orchestrate a recession by destroying companies one bip at a time. Wouldn't it just make more sense to adopt zero-covid now and kill two birds with one stone?

I just realized I'm old enough to run for president. If y'all vote for me I promise to reduce the US nuclear and conventional arsenal by 90% in my first year by carpet-bombing every single US city that refuses to reduce covid transmission in accordance with CDC masking guidelines. I promise also to do away with rapid self-testing and instead opt for rapid execution of any persons found not wearing a mask in public while in violation of CDC's 1 case per 1Mpop guidance for their community. To finish the job, legal immunity will be provided for the death militia protocol, a specialized command of elite military forces who will scour every other non-irradiated square mile of the country eradicating every single covid-positive man, woman, child, and animal.

Look folks, come 2024 a vote for me is a vote for the American economy, the American worker, American military supremacy, and health and prosperity for everyone in this great nation. Middle class, poor, rich, black, white, Latinx, native, and immigrant. If we all pitch in and do our own small part we can beat this thing and get America back on track. And that's a fact, Jack!

I'm still on the fence about who to vote for in 2024.


Paper or plastic

Vote for the lesser of two bought and paid for parties
 
2022-10-07 11:15:56 AM  

Samsquantch: Has anyone considered cutting CEO pay? Really? No one?


In 1942, FDR thought about establishing a maximum wage in addition to the minimum wage. His proposed maximum wage was $25K/year (the equivalent to ~$454K in 2022).

At this time, America needs a minimum wage and a maximum wage which won't exceed 20x the minimum wage.
 
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