[avereveard]

a lot of skilled workers enter the job market at a reduced price, they have the know how to compete in the same or adjacent sector, medium company can acquire the competences at a reduced price, their profit increase their spending, etc etc

economics is not a single company

this is the tail of feds interest rate raise cutting down investment. it will last a while, but the economy doesn't yet seem unhealthy (well except some specific bubbles, but those have been there a while and if they pop will pop because they were bubbles, not because the secondary trigger)

[cs702]

Agree on everything :-)

The only thing I'm not so sure about is the health of the economy. While all macro stats look great so far, they don't yet reflect the wave of layoffs we're seeing in sector after sector.

We may be going through a mild recession overall and a brutal one in bubble-land. Regardless, it will feel horrible to anyone younger than 35, who has never experienced a recession since joining the workforce at most ~15 years ago.

[avereveard]

well there was the subprime thing, it hit harshly on south europe. heck italy was still trying to climb out of that when covid hit, and it's like still down significant % from 2008 gdp levels