You can tell they're evil and all of this is deliberate, because all of these "experts" and "analysts" would have long since lost their jobs from their sheer incompetence ages ago if their job wasn't to be always "stunned" by reality. Like come on, a bunch of randos on a Bosnian cyberbowling forum are better at predicting the economy than these alleged "experts", that only makes sense when the "experts" are meant to be deliberately wrong.
My favorite example of this is Jim Cramer, actually. You'll get the brainlets on r/wallstreetbets joking that he's literally always wrong and how does this joker still have a job, etc etc. But actually Cramer is awesome at his job: Cramer's job isn't to give his listeners sound investment decisions, it's to create bagholders so his over-leveraged owners can exit.
You know we're fucked when Paul Krugman is predicting everything will be sunshine, rainbows, and blowjobs.
Just remember these people are like government workers, unaccountable and hold others in complete contempt.
At this stage, bringing back tar and feathers may be too lenient.
How are people not understanding that many of these people were making $150-200k a year doing meme jobs while most of the workforce is still sweating at $10-$15 an hour. If companies cease to be profitable and they have massive layoffs, how are they going to pay an 8k a month mortgage when their buffer job is barely paying 2K?
Except if home values drop due to elevated rates and the recession and they are now underwater and can't sell. They have to walk away and eat the costs involved there while trying to find a place to rent. A lot of people are potentially about to get turbofucked.
Exactly. By the time their credit scores are fixed it will be just in time for the next boom.
I think he's saying they're buying million dollar homes while working for Twitter, but are going to be laid off and working at McDonalds soon.
He said "most" of the workforce is at $10-15 an hour. Median weekly income for men is about $1100, and for women about $900. You'd have to have two jobs working 60 hours a week just to hit the women's median; "most" people are not doing that. IME, people who think the majority of workers are in food service or retail tend to be young and in social circles where that's true, and forget that most workers are older than 30.
The only good part of this is the people about to be most fucked are the ones who richly deserve it. Upper middle class urban yuppies doing "consulting", "human resources management", "social engagement" and other such nonsense.
Small business owner absolutely gonna get demolished once again. I for one, hail our corporate overlords.
No, you don't understand, Enron is proof the entire electricity sector is nothing but a scam! LMAO what a dumb take you have.
Those that still remain after Covid fucked them over the first time.
It's almost like someone is trying to reset the entire economic system.
So exactly the types of jobs people are going to have to pick up as a buffer job when their overpaid “meme job” gets laid off?
And??? Do you have any idea what a million dollars gets for a house in the hot markets we are talking about?
While he's a sperg and missing the point, you have to be using old data. In my cheap, poor home town McDonalds starts at 14 now. I've seen it as high as 17 at the low end of their spread.
Not sure if this is what you're suggeseting, but, someone making $14, or even $17, cannot afford a $3500/month mortgage. Maybe if they have two incomes (man + wife) or multiple roommates. $15 is like $2200 takehome a month, isn't it? That means your safe mortgage range is like $1200 or so?
