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Just 3 weeks ago people were mocking me about the incoming recession [1]. These companies that can't pay their bills are going to lay-off staff just to stay afl

by bArray 4y ago

Just 3 weeks ago people were mocking me about the incoming recession [1]. These companies that can't pay their bills are going to lay-off staff just to stay afloat. Unemployment is about to skyrocket. [1] https://news.ycombinator.com/item?id=33149381 https://news.ycombinator.com/item?id=33149381

deleted 4y ago
[deleted]
ROTMetro 4y ago
I wouldn't really call that mocking. Black Friday is typically the day when business' get 'into the black' for the year. Things typically get tight in October with having to both prepare for a November increase while being a lean month. This doesn't seem all that different than the position all of the startups and small businesses I have worked at or had insight into from the past. What is different is the Fed, media, and large corporations are trying really really hard to talk down the economy into a fear based recession this time, complaining loudly about the growing cost of labour and how that is the end of the world, yet bragging about record profits taken 'under the guise of inflation' on their earnings calls. Meanwhile, consumer confidence is the highest since Feb. https://www.bloomberg.com/news/articles/2022-09-27/us-consumer-confidence-rises-a-second-month-to-most-since-april#:~:text=A%20measure%20of%20expectations%20%2D%2D,and%20a%20robust%20job%20market https://www.bloomberg.com/news/articles/2022-09-27/us-consum.... I'll go with consumer sentiment and historical knowledge over an artificial narrative and fake hysteria along with a Fed push intended to increase unemployed to keep down labor costs for companies posting record profits in this horrible (yet record setting) economy.
autoexec 4y ago
> These companies that can't pay their bills are going to lay-off staff just to stay afloat. Companies have been aggressively cutting staff for a very long time, often requiring a single person to do the work of two of three people. How much can they lay people off and stay in business at all?
- bArray 4y ago
  Good question. I suspect this will kill many businesses. There is only so much you can reduce your running costs without killing your business.

by bArray 4y ago

deleted 4y ago

[deleted]

ROTMetro 4y ago

I wouldn't really call that mocking. Black Friday is typically the day when business' get 'into the black' for the year. Things typically get tight in October with having to both prepare for a November increase while being a lean month. This doesn't seem all that different than the position all of the startups and small businesses I have worked at or had insight into from the past. What is different is the Fed, media, and large corporations are trying really really hard to talk down the economy into a fear based recession this time, complaining loudly about the growing cost of labour and how that is the end of the world, yet bragging about record profits taken 'under the guise of inflation' on their earnings calls. Meanwhile, consumer confidence is the highest since Feb. https://www.bloomberg.com/news/articles/2022-09-27/us-consumer-confidence-rises-a-second-month-to-most-since-april#:~:text=A%20measure%20of%20expectations%20%2D%2D,and%20a%20robust%20job%20market https://www.bloomberg.com/news/articles/2022-09-27/us-consum.... I'll go with consumer sentiment and historical knowledge over an artificial narrative and fake hysteria along with a Fed push intended to increase unemployed to keep down labor costs for companies posting record profits in this horrible (yet record setting) economy.

autoexec 4y ago

> These companies that can't pay their bills are going to lay-off staff just to stay afloat. Companies have been aggressively cutting staff for a very long time, often requiring a single person to do the work of two of three people. How much can they lay people off and stay in business at all?

bArray 4y ago
Good question. I suspect this will kill many businesses. There is only so much you can reduce your running costs without killing your business.