Its The Economy, Stupid - Economic & Business News From Around The World

Fwiffo

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so you mean you expect that companies will be profiting off the backs of the common man and then companies will report on it?

I mean the media will moan companies are profiting off the backs of the common man.
 

Fwiffo

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Basically no one is making money by creating original content and streaming it for a monthly membership plus catalogue films and shows.

Understandably streaming shows are higher quality than broadcast television now and films are still hit or miss, but the business model to fund the creation of all this (perhaps too abundant) content is flawed.
 

Grand Potentate

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very interesting thread on the nation's strategic oil reserves and how it looks like Biden is goosing oil prices downward with our stockpile and we'll run out in March causing massive inflation.
 

Grand Potentate

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Pound hits 37-year low against dollar as UK recession fears mount​

Sterling briefly dips below $1.14 after retail sales data showed sharpest fall in more than a year
 

Fwiffo

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"US GDP has fallen for two consecutive quarters - 1.6% during the first quarter of 2022, and 0.6% the next. In most countries, that's a recession. Just not in the US.

The official recession call is made by the Business Cycle Dating Committee - a little-known group of eight economists chosen by the National Bureau of Economic Research, a non-profit organisation. And so far, the committee has refused to use the R word."

It will officially be a recession after both political sides have finished using and abusing the statistics for the midterm election.
 

Grand Potentate

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Fwiffo

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"But the 30-year-old works in the home loan industry, which has seen business plunge as mortgage rates cross 6% for the first time since 2008.
He said he feared losing his job 'every single day' and was cutting back spending and scrapping holiday plans amid the uncertainty.
'I don't know what 2023 is going to bring,' he said. 'All of that weighs heavily - not just on me, on everybody.'
'I don't know how stalling the economy is helping anyone.'"

For someone who works in the home loan industry, how can he think printing more money and showering the economy with at low interest rate is a long term solution?

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Fwiffo

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If only everyone was as aggressive as the States with increasing interest rates.


Nope.
 

Fwiffo

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“Today, its market value is only $10.4 billion and the shares have fallen 56.2%.

October 27 is being seen as the D-Day for the bank where the CEO is expected to present a strategic plan to avoid filing for bankruptcy. This should include the divestment of investment banking activities, the black sheep, speculate the markets. Analysts have estimated Credit Suisse needs to raise $4 billion Swiss francs ($6.3 billion) even after selling some assets to fund its restructuring, growth efforts and any unknowns, a Bloomberg report stated.”


”The bank’s share price is down more than 73% over the past five years, and such a dramatic plunge has naturally led to market speculation about consolidation, while some of the market chatter ahead of the Oct. 27 announcement has focused on a possible hiving off of the troublesome investment banking business and capital markets operation.”

There are experts on here who can comment on it better.

If you have a market cap of 10B and 730B in assets and you are asking for 4B or more to restructure why wouldn’t I just buy you out, take the lucrative pieces and then leave the shell and the staff as unsalvageable toxic crud for the Swiss government to bail out?
 
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