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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Deutsche Gopher Fan said:
Bank of England predicts longest recession ever.

will the billionaires be ok?

also thanks joe Biden

https://www.bbc.com/news/business-63471725
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Honestly, the Fed and BoE are forcing the recession. There's an absolute disregard for the folks that get screwed by this. They're handwaved as a necessary cost to cut inflation. Necessary to whom? Like, this means people won't have jobs. They could lose their homes, their cars, and some could die if they lose their insurance. This isn't just numbers. And I fucking hate that the braintrust keeps saying "Well, this is necessary to get inflation under control." There is no actual reason to get inflation under control if wages keep pace. The problem is the ownership class doesn't necessary make money when inflation goes up. The price of a stock doesn't inflate because the dollar is worth less. On the other hand, wages DO go up with inflation because people demand higher pay and that in turn hurts the ownership class again.

All of this is just to protect the people who need it the least. This really bothers me.
And anyone who says "We need to raise unemployment" should be automatically be the first in line for layoffs. Fuck you.
 
Must is also looking to cut $1-3 million per DAY in infrastructure costs.

The site is dead by the end of the year. Or the head of lettuce someone threw up on a tweet.
 
dxmnkd316 said:
All of this is just to protect the people who need it the least. This really bothers me.
And anyone who says "We need to raise unemployment" should be automatically be the first in line for layoffs. Fuck you.
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crazy thought on how to raise unemployment - encourage an increase in immigration. I know it’s not within the FRB’s power, but it’s a be of those things that can be unofficially stated off the cuff.
 
I imagine at some point Elon is just ranting off all the stuff he wants to do and at some point his assistant just said "Forget it. He's rolling!"
 
Fighting Sioux 23 said:
Sounds like WARN Act lawsuits have already been filed.
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When I was laid off by US Bank, I was given an initial notice about 4 months ahead of time. The company was giving retention bonuses to those who helped with the transition as they sold my division to a Philadelphia company. The about 30 days prior, an official meeting I had with my manager and a corporate lawyer took place due to the WARN act.

ETA: All of that is to say that I don’t think Musk understands the Elongated length of time required for the whole legal process.
 
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FadeToBlack&Gold said:
I think he understands, he just doesn't care. Burn it all down and own the libs.
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I’m willing to bet he thinks he can outlast any lawsuit in court with his money.

I’m also willing to bet there’s a line of lawyers willing to sue him for s—-s and giggles.
 
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