Senior managers of companies ranging from Facebook parent Meta Platforms and Apple to General Motors and Chipotle give their views on consumer spending, the supply chain and where the economy is heading.
Yes, and it is pernicious because talk of a recession becomes self-fulfilling, as the fear of one dampers spending, thereby resulting in the very slowdown they were warning against.
One enlightening thing I've heard is from Ben Friedman who says the real fear is how will raising interest rates affect the economy, and if done too aggressively, it could send us into one. By all accounts, Powell is aware of this and has said so.
But to the larger issue of press and fear-mongering, it seems that the ante has been raised in that they need to compete in this digital age, and with so many news (and quasi-news) sources, they must grab the listener's attention or perish. All in an attempt to stay relevant in the age of social media (as I say this on social media).
One last note- love the Microsoft CEO comment at the end: by Chief Executive Satya Nadella: “There is obviously something going on in the macro environment which does feel that it does plays to our strength.…IT spend is going to increase because every business is trying to fortify itself with digital tech to, in some sense, navigate this macro environment.”
Tom Lee and other Wall Street purveyors of the equity culture spin, while fundamentals continue to deteriorate in the face of higher inflation and falling corporate profits. From CNBC:
“The Alphabet company had its regular all-hands last Wednesday, and the tone was somewhat urgent as employees expressed concern over layoffs and CEO Sundar Pichai asked employees for input, according to attendees and related internal documentation viewed by CNBC.
Google’s productivity as a company isn’t where it needs to be even with the headcount it has, Google’s CEO Sundar Pichai told employees in the meeting. “I wanted to give some additional context following our earnings results, and ask for your help as well,” Pichai opened, referring to the company’s Q2 earnings report on Tuesday. “It’s clear we are facing a challenging macro environment with more uncertainty ahead.”
He added, “There are real concerns that our productivity as a whole is not where it needs to be for the headcount we have.” He asked employees to help “create a culture that is more mission-focused, more focused on our products, more customer focused. We should think about how we can minimize distractions and really raise the bar on both product excellence and productivity.”
It comes after the company reported its second consecutive quarter of weaker-than-expected earnings and revenue on Tuesday. Revenue growth slowed to 13% in the quarter from 62% a year earlier, when the company was benefiting from the post-pandemic reopening and consumer spending was on the rise. CFO Ruth Porat said she expected some of the challenges to continue in the near-term but the company doesn’t give formal guidance.”
The people who really run America will not allow the return of Trump.
The question is why?
The reason is because he is a traitor. But you and Igy can continue your man crush and be considered the same. The rest of us still value the truth and patriotism. 🇺🇸
Did you see those pictures of him at his golf shindig without all his makeup? Dude looks awful, he might not make it to 2024.
I'm sure there are those who would have us keep this to market talk and not veer into politics, and in that vein, I've been reading how there is a burgeouning industry for tech devices to help senior age happily. Here is an article on it, and with all the boomers, this might be big.
New devices that use VR, robotics and other technologies have hit the market that help the elderly live longer, healthier lives. These innovations include VR headsets for seniors with Alzheimer's and cloud-enabled fall-detect...
Did you see those pictures of him at his golf shindig without all his makeup? Dude looks awful, he might not make it to 2024.
I'm sure there are those who would have us keep this to market talk and not veer into politics, and in that vein, I've been reading how there is a burgeouning industry for tech devices to help senior age happily. Here is an article on it, and with all the boomers, this might be big.