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Government stimulus is the main reason there's been a bull market and that's why banks' profits have been through the roof. I'm pretty sure that whether or not
by daniel-thompson 5y ago
Government stimulus is the main reason there's been a bull market and that's why banks' profits have been through the roof. I'm pretty sure that whether or not bankers worked remotely had little to do with it.
When J Powell eventually turns off the money printer, the market is going to pull back, the banks are going to go through leaner times, and the old-school executives in charge of them are going to be in a much stronger position to argue for employees to come back to the office, regardless of the merits.
- piva00 5y agoThey will have to come up with very strong arguments to the board though. It can be pretty hard to explain why should they spend a lot of money during leaner times to rent prime-location offices in some of the most expensive cities in the world.
- Animats 5y agoA key word being "rent". There are a lot of downtown office space renewals coming up that are not being renewed.[1] [1] https://wolfstreet.com/2021/08/24/end-of-the-era-of-voracious-corporate-appetite-for-office-space/ https://wolfstreet.com/2021/08/24/end-of-the-era-of-voraciou...