Comment on Google confirms it just laid off around a thousand employees

• qyron@sopuli.xyz ⁨11⁩ ⁨months⁩ ago

  The only thing I’m sure of is death and taxes.

  I’m risking that statement because I’m seeing a good deal of events similar to what happened the last time we went through one (the world) and the big companies starting to let go people is like the canary in the mine.

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  • coffeetest@beehaw.org ⁨11⁩ ⁨months⁩ ago

    Last global recession generally considered 2020 I believe i.e. covid. Before that 2008/9 sub-prime housing. I don’t see either of those events happening now. Could you be more specific?

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    • qyron@sopuli.xyz ⁨11⁩ ⁨months⁩ ago

      Good morning.

      Let’s call that example the canary in the mine but I’m seeing many similar situations where I live.

      Being in a less than urban area, there is still a bit of industry around and some factories are cutting staff and a few have already shut down operations, especially in sectors more closely related with end user products (clothing, footwear, yarn, etc). Industries with ties to industrial use (metal working, construction materials, wood and derivates) are keeping afloat but only replacing workers that go into retirement or that for some reason or another just quit, and these industries, in my understanding, are keeping afloat because of the hard push into more sustainable and efficient houses, which is forcing a good deal of public investment into large renovation projects and funds.

      Parallel to this, bakeries, coffee shops, small businesses that rely on consumption, are shutting down. For me, this implies there is less money floating around.

      Paired with the hike in housing…

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      • coffeetest@beehaw.org ⁨11⁩ ⁨months⁩ ago

        Thanks for your observations and I won’t argue them. The problem with a word like recession is that we’re in what I see as, the poor get poorer, the rich get richer. The middle class, what’s left of it, is mainly moving toward being poor. That said, the “smart” economy people will say “we are not in a recession and in fact the economy is good.” And it is good, very good in fact - for the privileged. Wealth inequality is the issue, at least in my view.

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  • zaphod@lemmy.ca ⁨11⁩ ⁨months⁩ ago

    Because FAANG is the entire economy? Please.

    Step out of the SV bubble and you’ll see the economy is fine. The fact big tech was dumb and overextended themselves during and shortly after COVID while relying on ZIRP to fund those expenditures doesn’t mean everyone else did.

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    • qyron@sopuli.xyz ⁨11⁩ ⁨months⁩ ago

      You are going to have to unfold all of those acronyms before we can move forward with this conversation.

      I don’t have the palest of ideas of what you are trying to convey.

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      • zaphod@lemmy.ca ⁨11⁩ ⁨months⁩ ago

        ZIRP - zero interest rate policy. Very common term for anyone following macroeconomic policy since 2008.

        I desperately hope I don’t have to explain the rest.

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    • toothpicks@beehaw.org ⁨11⁩ ⁨months⁩ ago

      Nice abbreviations!

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