Thread regarding Citigroup Inc. / Citibank / Citi layoffs

Let's pretend we couldn't see it coming...again...

In May 2020 I posted an article in the Higher Education Inquirer on the last economic downturn. It was the 27th downturn in US history. Remarkably, few could see that downturn coming, a result of the covid pandemic. More than a million people died, just in the US. Trillions of dollars were handed out, mostly to the rich. Unique, in some respects, but familiar in other ways. During and after the Great Recession, from 2008 onward, the US government handed out trillions to big banks and big corporations. TARP, QE1, QE2, QE3, a FED rate of nearly 0 percent. Trump added trillions more through tax cuts and deregulation. The rich got richer. The poor got poorer. A familiar pattern over the last half century. And workers resist, at Starbucks, Amazon warehouses, and a number of universities, including the UC System and New School. Inflation requires the FED to intervene, to put things back in line. Roubini warns us again about zombie corporations. Layoffs are happening, not just in Silicon Valley.
Some say the next downturn is just around the corner. But it's been here, for the working classes anyway.

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Wtf does this have to do with Citi, Dahn?

Yeah, sorry your blog sucks and no one reads it. But that doesn't give you the right to spam your junk here.

Go away, Dahn.

Post ID: @ebq+1ka61FEh

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