Some of these companies self-immolated on the Altar of woke.
In a previous reply a few articles upstream, I noted that the “stag” portion of stagflation was likely to hit with grievous effect after Christmas.
streaming, retail, social media ~
face it, they had their day in the sun, the world is bored with them now ...🥱
IMHO the EU economy will suffer a severe recession in the next six-eight months. China’s economy is also very strained. Elites from Europe and Asia are transferring assets and capital into reliable American holdings. The price of prime farmland will in the US and to a lesser extent Canada will rise considerably. The transfer of capital into the US will lessen the recession in the US.
P
Fintech? I had to Google it.
Mortgage lender LoanDepot has let go of 2,800 employees this year and announced another 2,000 layoffs are on the way...big banks JPMorgan Chase, Citigroup and Wells Fargo have shed hundreds of mortgage broker positions.”
What mortgage companies and homeseellers could do is to escrow say 10 years of interest rate buydowns, so an interest rate of say 5.1% becomes 3.9%. This would require about 12% of the selling price be put in escrow.
You might ask why would sellers give up ~12% of the selling price.
They would be taking a bet that the Federal Reserve can’t force the federal government to pay a competitive rate of near 5.1% on borrowed money for ten years.
I believe it is a good bet, and better than just cutting the price ~12%.
The real estate agent might also be asked to chip in the interest rate buydown escrow account.
The buyers might be required to refinance if say interest rates fall below say 4%.
1 & 2 wondweful, may they cease to exist.
3. Retail and ecommerce - Bed Bath & Beyond has a $1.2 billion lawsuit for stock manipulation.
2. Streaming was dead before it started. The decades of woke garbage couldn't sell on television; why would it sell on a streaming service? Did they really think people would still buy garbage from people who hate them because it was at a lower price and you could watch it on demand? The problem is not just the "cord-cutters", it's the "cord-nevers". You can't sell streaming to people who never cared to watch television.
1. Tech and Social Media - companies such as Microsoft, Google, and Facebook have gone out of their way for a decade to sell nonsense at the expense of offering real products and services that people want and need. When more than half of the clicks online are from bots, that's a sign the customers have walked away.
In a word, the trouble in the world today is government.
Let’s go Brandon!
The economy is so bad even Amazon is restructuring it’s system it’s going take lot to pull us out of the Biden and stooges planning.