CEO quotes Martin Luther King Jr. in email announcing mass layoffs

[Ohnooze]

the 2 party system (aka USA's politic system) consist kettle and pot - something unclear?

What's unclear is why you're attempting to answer a question not directed at you and one that I already responded to.

 

[waclark]

US GDP being +2.9% in Q4 2022 is a strange recession?

That's one data point, here's another:

"The 2.9% annualized rise in fourth-quarter GDP was a little stronger than we had expected, but the mix of growth was discouraging, and the monthly data suggest the economy lost momentum as the fourth quarter went on," wrote Andrew Hunter, Senior U.S. Economist for Capital Economics, in a response to the data. He still expects a mild recession in the first half of 2023.

Also, GDP growth in 2022 was less than half of what it was in 2021, 2.1% overall compared to 5.9% in 2021.

 

[Enaks]

That's one data point, here's another:

"The 2.9% annualized rise in fourth-quarter GDP was a little stronger than we had expected, but the mix of growth was discouraging, and the monthly data suggest the economy lost momentum as the fourth quarter went on," wrote Andrew Hunter, Senior U.S. Economist for Capital Economics, in a response to the data. He still expects a mild recession in the first half of 2023.

Also, GDP growth in 2022 was less than half of what it was in 2021, 2.1% overall compared to 5.9% in 2021.

2021 was when the world reopened following Covid, of course growth was stronger.

None of what you’ve posted actually negates the figures I posted (you quote the same +2.9%), nor does it contradict my original point, a poster claimed ‘we’re in a recession’, which we’re clearly not. A recession requires consecutive quarters of decline or overall stagnant performance, a recession is a very specific ‘thing’.

+2.9% Q4, or +2.1% for FY ‘22 (as you point out), clearly *isn’t* a recession.

 

[Avro Arrow]

You don't know me and just so you know, I've been through it before (being let go after a merger). When mergers happen, you don't sit there and kick back, you go and polish your resume because you never know when that random Friday 15mins calendar meeting invite by HR shows up in your email.

Sure but in countries like the USA, being laid-off can be a death sentence depending on your age. This is because if you're in your 50s or 60s, not many companies are willing to hire you and the USA's seriously messed up idea of healthcare disappears completely when you become unemployed. This is especially true considering that layoffs happen most often during times of recession when trying to find a new job, especially one with health benefits, can be next to impossible. I can't imagine just how nerve-wracking it is for people with families to support.

Even worse, these mergers are each one step closer to monopoly. Sooner or later, they cause economies to collapse.

 

[waclark]

2021 was when the world reopened following Covid, of course growth was stronger.

None of what you’ve posted actually negates the figures I posted (you quote the same +2.9%), nor does it contradict my original point, a poster claimed ‘we’re in a recession’, which we’re clearly not. A recession requires consecutive quarters of decline or overall stagnant performance, a recession is a very specific ‘thing’.

+2.9% Q4, or +2.1% for FY ‘22 (as you point out), clearly *isn’t* a recession.

Well, technically, the first half of 22 was a recession because we had negative GDP for the first 2 quarters. The second half brought us out of that, but, as the quote I posted stated, it looks like things were slowing down in Q4 leading to possible recessionary times in 2023. Hence, why you might call it a "strange" recession. With the Tech sector contracting a bit, it's not good news. We're waking on thin ice and it wouldn't take much to push us back into a recession. The knuckleheads in D.C. seem incapable of moving us forward and I don't have a lot of hope until the next election cycle and even then, who knows?

 

[moral hazard]

To misquote MLK: Free at last! Free at last! God almighty, you're free at last! You won't be with us, but we will reach the promised land!