I'll just say one more thing about the FB employee base, and leave it alone.

As of the last earnings, Meta had over 87,000 employees (and has never seen a quarterly decline in headcount in its 18-year history).



So nothing bizarre about a company laying off 13%, something they never done since nearly two decade inception, coinciding with it being the only year the Fed took borrowing rates from 0% to 5%?

Yeah, ok.

Facebook's public facing accounting only lets you see what they want you to see.

Behind the curtain is another story entirely.

All the major corporations are doing it the same way.

Their books look clean and in great shape until the day they don't anymore.

If you had $40B in cash and truly near zero debt, then why would you have to lay off 13% of your company? 11,000 salaried human beings is not a pittance.

While that all may be true, and I agree with you about the VR crap. However:

If Facebook's ad revenue wasn't completely cratering, their data selling business wasn't cratering, and they were still able to borrow money at cheap Fed rates (0-1%), then they wouldn't be laying off 11,000 employees.

They would be keeping them.

Let's face it, none of these social media companies were actually making money. They were subsidizing their own existence with cheap debt. Just like the majority of companies out there.

The Fed is finally starting to see all those mass layoffs that they have so desperately been trying to cause:

Meta laying off more than 11,000 employees
https://www.cnbc.com/2022/11/09/meta-to-lay-off-more-than-11000-thousand-employees.html

But...bbut...we are not in a recession, amirite?

This is the "last call" FUD shorting bullshit to liquidate idiot longs.

All markets will being to rally after tomorrow and into the end of the year.

Philipma, I find it interesting and comforting to know that you have found the truth. Even at an advanced age.

Sadly, I still see the vast majority of people around me that have not had the epiphany nor likely ever will.

I see young people destroying their health with zero exercise, too much booze, too much smoking (or vaping), and too much carbs/sugar.

They get fatter and fatter every day, lungs destroyed, ADHD and mental issues. Many are obese with bodies of a person 30-40 years their senior. And they constantly wonder why they feel so shitty all the time and have so many mental health issues. Insanity is doing the same thing over and over and expecting different results.

Many boomers with dementia and literally falling apart and nearly dead by age 60, dead by 70 or so. I doubt the younger gens will even make it that far.

Meanwhile the 0.001% of the Jack Lalanne's of the world live to be nearly 100, happy and in good health.

OT: Oh lookie there, more proof of Twitter corruption... 

Stonks are finding a bottom and rallying because shit's coming unglued.

What a fkd up world we live in today.

Had to sell a smol amount for end of year bills and expenses.

Now it will go up.

You're welcome, WO.

The Fed is obviously committed to this worldwide shitshow of rate hikes until the end of year.

Another 1.25 bp worth of hikes on the table by end of December.

They will end up crushing everything, all markets everywhere, companies panicking and mass layoffs coming in January, banks getting margin called, real estate crashing, etc.

Which is apparently exactly what they want to see happen.

BeStEsT StrOnGeST EcoNoMiEs EvAR  

OT: Mortgage rates in the U.S. have nearly doubled from the start of the year, now at 7.12%

And then they wonder why housing starts have crashed. Lol.

Good luck at getting anyone even qualified at those levels.

If the diff is still going up and up while you are predicting a crash to ~$13-14k, it likely means that the insider mega miners know something that you don't.

A worldwide capex boom? I seriously doubt this is possible.

The world economies are broke, and the world's Mega corps are operating way in the red. Still. They will still need to rollover old debt, and refinance/re-subsidize with moar cheap debt.

Even with given essentially free ESG money for over a decade, these companies still focused primarily on stonk buybacks, executive compensation and mergers, instead of capex. Because they had nothing, no expansion at all to invest in that would give any kind of real world return, and they knew it. And they still don't.

Because when you already own monopolies on production and supply chains all over the globe, there is nowhere left to expand to.

Increasing capex with historically high borrowing rates? With the macro headwinds unchanging?

I don't think so. They will sit on their thumbs and continue to short this market.

And when Fed rates fall again, they'll just go back to the same ol' stonk buyback and exec compensation routine. It's all they know.

Maybe this is the future market "boom" that Russell is referring to.    

Notice how Wall Street is not panicking about the stonk market?

Because their all short af. With all that free money that the Fed gave them last year.

Also, Gold slammed lower on continuing hot inflation. Not odd at all. I'm sure all the Average Joes and financial institutions are just itching to sell all their Gold because inflation rages. 

Can't make this shit up anymore.

Dollar milkshake alive and well...

The Fed can't be far behind at this point.

Me too.

If I'm wrong, then the Fed absolutely *is without a doubt* on a suicide mission to crush the world's economies.

Today's the day. Rigged markets are coming with one last big short push. Stonks, PMs, Bitcoin all getting hammered hard.

The insiders know that even if the Fed raises rates another time or two, they would be absolutely suicidal to raise another big hike like 75 or even 50 bp.

The Fed won't be able to maintain high rates for long, as the world economies will absolutely melt down.

As soon as the Fed sees the mass layoffs they so desperately want to see, they'll pivot like a mf'er. And the insiders know it.

This is bottom fishing time. If you want bitcoin, now's the time to buy it.

Did M. Saylor just lap the Winklevii's bitcoin holdings?

Here's your "hero" hard at work at gaslighting the public

https://youtu.be/DUrlNHTxuJM?t=44