Every dreamer's f*cked, reality's knocking
Is the dawn of deficit reality upon us?
Are we heading into a recession or not?
We need one.
We are in a depression.
If you want charts and take away about the jobs report:
Just my anecdotes from Finland: It is good to remember that Finland’s jobs market is a relic from the 70s. Under no circumstances should you resort to laying off employees. If you think the US is fucked, I can’t even comprehend how royally fucked EUROPE will be. The spillovers from rising yields will wreck Europe.
Does anybody work anymore? Serious question.
My business currently runs four days a week. I find this the perfect balance. Sure, the pay is shit, the results are zero, and we survive. We are happier and healthier. How long can it go like this? I don’t know. The passion has died off.
Anybody else works? The biggest traffic jams start now around 15:00 and 14:00 on Fridays… Back then, this used to be the luxury of the higher-ups, those fuckers who just stole time and did not do any work! I remember when I worked in the office and watched the executives slip on their weekend trips after lunch around 12:00, and I had to stay till 18:00…
Massive amounts of bankruptcies, the highest levels since the early 90’s. Oh boy, there is a vast amount of cleaning to be done.
The construction business is slowing down hard.
The startup scene has slowed down considerably. “We need more money, we were just on the brink of breaking through”. Tell me about it. I can’t even count the times I was about to break through… Welcome to the real world.
I don’t do much business with restaurants anymore, but I still check the calendars to see how they are doing. Even in 2022, the good restaurants in Helsinki had a 1-2 month queue to get a table. Now you can get a table without reservation.
Even the IT sector is seeing massive layoffs, and people are wondering what to do now. It was supposed to be 100% to have work forever. My wife started to study IT 3 years ago. Even the first-year students were constantly offered gig jobs, internships, and work. Now her classmates were out of these, and nobody even got summer jobs 2023…
The job quality everywhere is shit. Wait for fucking +20min to get lunch? Busses running late? Nobody answers the phone, and replying to emails takes forever. Building quality is horrendous. Everything feels “Shit”, or is it just me? Share your anecdotes from the arena.
The dream
I dreamed of a perfect rollover from giga extreme consumer spending (now slowing down incredibly fast; spring and early summer were bonkers). Hopes of corporations starting to spend more, but this seems like a dream now.
Have you noticed how we've all become accustomed to thinking, "It will be fine" no matter what challenges come our way?
Covid? Who cares, wuhuu we get money doing absolutely nothing?
War? Fuck Russia, let’s inject even more subsidies, no worries!
It is always a huge surprise in the end that people get fired. Oh boy, who would have thought this might end in losing massive amounts of jobs? The business lays off people as a last resort. It is always a surprise.
Then we cry to the state to help us?
Debt and deficit are “ok” then suddenly it isn’t? Zero-rates for ever? How this surprised anybody?
...It's as if we've been living in a collective dream, where the reality of plandemics and global crises were nothing but distant nightmares. But now, the cold morning of reality is here, and the dream is dissipating with every layoff, every closed business, and every cry for state intervention.
Do we wan’t to wake up and start to address the problems head-on?
Hamas just started to invade Isreal this morning.
Feels like everything is breaking…
Lets hope its just a recession and not the reset for the whole world.