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Markets still falling like whoa


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42 minutes ago, FirstTimeCaller said:

Interesting with all the tech layoffs. I wonder how much is overhiring during the pandemic and how much is "holy shit Twitter bled their staff and they are still running. Maybe we have too much bloat as well."

Seeing Google is cutting 12,000 workers. Assume they average $100,000 in comp and that's $1.2 billion a year off the headcount. 
 

It was almost assuredly the overhiring that happened during the pandemic. Some tech companies literally doubled. I read Salesforce went from 50k employees to 80k (and they are shedding 8k jobs).

It seems like a right-sizing when money isn't free and growth isn't guaranteed to be exponential way more than a "hey look at Elon burning down Twitter and it still is up and running at least", especially when you see that ad spend is down 40-50% YoY in revenue oof.

Edited by HamsterHookah
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I consider any current layoffs at big tech that account for <10% of their total headcount to just be cleanup that had been postponed due to the last 3 years of insanity, and not really all that pertinent to current economic outlook.

A 6% layoff at Google is mostly just firing people who aren’t doing any work and don’t have any real skills necessary for future growth.

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1 hour ago, FirstTimeCaller said:

I feel like the market doesn't seem worried about debt ceiling stuff. To me that's a bigger risk right now than inflation. 

If they pass it or don't? It kinda sucks either way.

 

My nonCR 2cents: Our budget (and the need for more debt) should be a percentage of GDP, not a dollar value.

 

US-National-Debt-to-GDP-Ratio-by-Year-10

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6 hours ago, HamsterHookah said:

It was almost assuredly the overhiring that happened during the pandemic. Some tech companies literally doubled. I read Salesforce went from 50k employees to 80k (and they are shedding 8k jobs).

Salesforce was absorbing head count from acquisitions

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6 hours ago, FirstTimeCaller said:

I feel like the market doesn't seem worried about debt ceiling stuff. To me that's a bigger risk right now than inflation. 

so our leaders are ignoring today’s inflation while creating tomorrow’s inflation (by way of increasing indebtedness)
 

5 hours ago, Cheeseweasel said:

My nonCR 2cents: Our budget (and the need for more debt) should be a percentage of GDP, not a dollar value.

 

US-National-Debt-to-GDP-Ratio-by-Year-10

spend/borrow what you make? thats radical talk, feller. 

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12 hours ago, FirstTimeCaller said:

Seeing Google is cutting 12,000 workers. Assume they average $100,000 in comp and that's $1.2 billion a year off the headcount. 
 

I would quite doubt that 100k is average. Probably closer to double that. It's pretty serious savings.

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4 hours ago, Fudge Nuggets said:

I'm only up 18% on my equities since you posted this bullshit back at the end of September.  How you doing?

My account is up 14% from 9/23 to today.  I am much more weighted in long term value like KO, PEP, MCD,JPM than growth.

 

care to share your performance from 8/15 - 9/23?  Here’s a hint.  It was awful.

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15 minutes ago, FartingMonk said:

I work at Amazon corporate in Seattle and man watching those guys show up on Wednesday finding out if they were laid off or not was weird.  Bunch of young kids looking like they just got their puppy kicked

Punch Sam in reception in the nads for me (my little brother)

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On 1/20/2023 at 10:56 AM, Cheeseweasel said:

If they pass it or don't? It kinda sucks either way.

 

My nonCR 2cents: Our budget (and the need for more debt) should be a percentage of GDP, not a dollar value.

 

US-National-Debt-to-GDP-Ratio-by-Year-10

If our politicians rigidly tied the budget to the GDP, they’d just end up cooking the GDP to spend what they want

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21 hours ago, tbone_ said:

Next to Grendel, Rocko was the most annoying mfer in the history of the internet.

You sound like somebody from the anti-leaving price tags on your sports coats cabal. Your lack of specifying how many 220 pound bench press reps you can do is…..noted.

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Nope, there will be no debt limit issue, surprise inflation, nuclear holocaust, Fed-fueled recession or any other event that will ever take us below $4K again. Smooooooth sailing from here on out.

In all actuality, I'm still relatively bullish so I do think we spend some time in a rally mode... or at least no longer dragging along the bottom. August peak was around 4,300. Seems like a spot to test out.

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we all getting laid yet?

i bought some Tesla in my infant's designated account.  he's basically having a better 1-week return than any fund manager on earth.

but i sold some covered calls on my own account, so some shares will be removed from me below the closing price 🤕.  hoping to buy back in the 150s-160s with a standing limit order.

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