I think there is someting brewing. And this one can be bigger than the one before - look at the energy prices, that Russian mess, inflation is running super hot, tech stocks are melting down, real estate is so high young people are screwed, I am concerned.
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You talk like a lot of these things are new. It’s not.
Real estate keeping young people out of the housing market is a years long problem that just gets worse. Just like the wage gap.
They have been sending jobs to India for 20 years and most people ignore it as the wage gap increases.
Lenny: Does this mean we're losing our job?
Mr. Burns: No no. Your jobs are safe. They'll just be done by someone else in another country.
WHEN...not if #FJB
thank the little man in the WH
@tcb+1gIRh9rn Okay, dad. I know, uphill both ways to school in the cold, no coat, one shoe. Yeah.
A severe recession is probably coming and if there’s a cyber attack on the financial system it’ll be even worse!
@uqm+1gIRh9rn not necessarily. The function may be outsourced (even without a recession) if there continues to be no real progress. WF and the other big banks have already outsourced some risk function. Not that hard to believe they wouldn't outsource more to have a fixed cost model.
Operations is screwed but risk compliance and control are usually safe unless you have peers in India. If that’s the case, your job can be replaced. Wells can’t afford a recession and more regulatory issues so I doubt they cut the areas i mentioned
No one was / is safe in the cesspool. It's gonna be some serious inflations and more war, more turbulence, etc..and obedient drones hamstering to corporate waste lands.
what else was new?
It would be easy in an economy stall/fall such as we are experiencing currently to stop all forward-looking activity and reduce to a lights on model only.
So.......there is considerable opportunity to cut if the bank starts losing $$. Considerable opportunity.........but.......same is true most everywhere.
No one's job is safe. NO ONE. I do believe a recession is coming. Saving my pennies, and I live in a cheap apartment.
Ah, hello GenX, Boomer here. You haven't been through more up down cycles and wars than Boomers. Your overall point however is correct. With a little preparation and common sense, you can get through the downs and thrive on the ups pretty well.
Work hard, be loyal, and clap alot while empty smiling.
Storms are always brewing, live below your means, save and you will be able to weather any storm.
Buy a fuel efficient sedan instead of the behemoth that gets 10 gallons per mile
Buy a cheaper (smaller) house
Cut down on eating out
Read a book borrowed from public library instead of going out to the movies
Possibilities abound
risk is probably safer than most during times of economic volatility
This cycle has come and gone many times. There is no use in worrying. Spend your time preparing for the worst - saving, spending sensibly, curtailing your debt - and things will be fine. The rest of it you can’t control and fretting about it will do more harm than good.
Signed,
GenX - been through more bubbles, ups, downs, recessions and wars than anyone in recent memory and doing just fine.
No job is safe with Charles around, even if the economy is booming. Well, except his, of course.
US empire employment at will (whim) doctrine. It's a USian thing. Good luck in the world's garbage collector
Totally safe, nothing to worry about.