The coming financial storm? 2023 version

POSTED BY: SIGNYM
UPDATED: Thursday, January 19, 2023 07:29
VIEWED: 5008
PAGE 1 of 1

SIGNYM

Tuesday, January 17, 2023 1:16 AM

They missed mentioning Black rock

Quote:
Factbox: Global banks cut jobs as cost pressures mount

LONDON, Jan 13 (Reuters) - Global banks are in the process of cutting over 6,000 jobs as profits at lucrative investment banking units come under pressure from volatility in capital markets and fast-rising interest rates, according to a Reuters tally of reported cuts.

Rapidly deteriorating economic conditions have also prompted lenders to build rainy-day funds to brace for potential defaults.

The following major banks have announced or been reported to be making job cuts:
BARCLAYS

Barclays (BARC.L) cut its workforce in corporate and investment banking by under 3%, a source told Reuters on Nov. 8, weeks after reporting a 45% slump in merger advisory fees.

The British investment bank has performed well in recent quarters, especially in fixed income trading, but a blunder in the United States that saw it sell more securities than permitted has cost it hundreds of millions of dollars in penalties.
CITIGROUP

Citi (C.N) eliminated dozens of jobs across its investment banking division, as a dealmaking slump continues to weigh on Wall Street's biggest banks, Bloomberg News reported on Nov. 8.

The U.S. lender has, like its peers, boosted its lending income as interest rates rise, but the aggressive action by the Federal Reserve and other central banks has sparked fears of a downturn that could hit banks' loan books in time.
CREDIT SUISSE

Credit Suisse (CSGN.S) is accelerating cost cuts, Chairman Axel Lehmann said on Dec. 2, confirming a Reuters report, as the bank races to slash its cost base by around 2.5 billion Swiss francs ($2.68 billion).

Credit Suisse had already said it would lay off some staff. The cost savings reported are likely to involve more job cuts than previously announced for the first wave of reductions, including in its wealth business, Reuters reported.

The bank is cutting about 5% of its private banking headcount in Hong Kong, two sources said.
DEUTSCHE BANK

Deutsche Bank (DBKGn.DE), Germany's largest bank, cut staff in its investment bank's origination and advisory teams in October, in a move that affected mostly junior bankers.

The cuts included dozens of staff in New York and London, Reuters reported.
GOLDMAN SACHS
A branch of Barclays Bank is seen, in London

[1/5] A branch of Barclays Bank is seen, in London, Britain, February 23, 2022. REUTERS/Peter Nicholls/File Photo

Goldman Sachs (GS.N) began laying off staff on Jan. 11 in a sweeping cost-cutting drive, with around a third of those affected coming from the investment banking and global markets division, a source familiar with the matter told Reuters.

Just over 3,000 employees will be let go, the source, who could not be named, said on Jan. 9. A separate source confirmed on Jan. 11 that cuts had started.

The long-expected jobs cull at the Wall Street titan is expected to represent the biggest contraction in headcount since the financial crisis.
HSBC

Under pressure from his biggest shareholder, China's Ping An Insurance Group, to improve profit, HSBC (HSBA.L) Chief Executive Noel Quinn has in recent months accelerated plans to shrink its global empire and streamline its management.

Reuters reported HSBC is shedding at least 200 senior managers as it prunes the ranks of chief operating officers it has across an array of country and business lines.

The bank also announced it is selling its Canadian business for $10 billion, removing around 4,000 employees from its wage bill in a stroke. It also announced on Nov. 30 the sale of its much smaller New Zealand business, and the closure of a further 114 branches in Britain, leaving it with around a third of the outlets it had as recently as 2016.
MORGAN STANLEY

In December, Morgan Stanley (MS.N) slashed about 2% of its workforce, a source familiar with the company's plans told Reuters. The cuts reportedly affect about 1,600 positions.

The investment bank is making modest job cuts worldwide, Chief Executive James Go

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6IXSTRINGJACK

Tuesday, January 17, 2023 2:09 AM

Quote:
Originally posted by SIGNYM:
They missed mentioning Black rock

But I didn't.

http://fireflyfans.net/mthread.aspx?bid=18&tid=60986&mid=11680
47#1168047

Quote:
Originally posted by 6IXSTRINGJACK:
Property taxes going UP UP UP UP UP is about to be a thing.

Just looked into the reassessed value of my home and they're telling me it's worth twice what it was last year. The neighbors around me aren't quite as dramatic, but a rise in $50k to $75k seems to be the norm.

So on top of all the inflation that's wreaking havoc on at least 70% of the US Population under Joe Biden*'s reign, fully expect many people to be taxed out of their home and thrown out on the street when the tax bills come in.

More easy pickins for Blackrock and Vanguard. Especially when property values crash because of interest rate hikes (and the taxes don't go back down) and the amount of foreclosures there are going to be on the market.

And I'll tell you what. If they can find some dumb jagoff to buy my home for what they're telling me it's appraised for right now, I will sell the house this afternoon and have everything moved out by the weekend without even having a plan about what I'm going to do with all the stuff and where I'm going to live.

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Growing up in a Republic was nice... Shame we couldn't keep it.

SIGNYM

Tuesday, January 17, 2023 2:59 AM

Also, a firm called State Street

What BlackRock, Vanguard and State Street Are Doing to the Economy
https://www.nytimes.com/2022/05/12/opinion/vanguard-power-blackrock-st
ate-street.html

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Pity would be no more,
If we did not MAKE someone poor - William Blake

6IXSTRINGJACK

Tuesday, January 17, 2023 9:03 AM

We're discussing things that have ACTUAL, long-term negative effects on Americans in this thread, and it's only you and me here.

Imagine that, huh Sigs?

Ted doesn't even know what BlackRock is.

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Growing up in a Republic was nice... Shame we couldn't keep it.

SIGNYM

Tuesday, January 17, 2023 2:59 PM

Coincidentally, I just read this today. It's about the Davos meeting being held this week..

Quote:
All Quiet (Panic) on the Western Front

Pepe Escobar for the Saker blog

Shadows are falling / And I’ve been here all day / It’s too hot to sleep / And time is running away / Feel like my soul / has turned into steel /I’ve still got the scars / That the sun didn’t heal / There’s not even room enough / To be anywhere / Lord it’s not dark yet, / but it’s getting there

Bob Dylan, Not Dark Yet

Lights! Action! Reset!

The World Economic Forum (WEF)’s Davos Freak Show is back in business on Monday.

The mainstream media of the collective West, in unison, will be spinning non-stop, for a week, all the “news” that are fit to print to extol new declinations of The Great Reset, re-baptized The Great Narrative, but actually framed as a benign offer by “stakeholder capitalism”. These are the main planks of the shady platform of a shady NGO registered in Cologny, a tony Geneva suburb.

The list of Davos attendees was duly leaked. Proverbially, it’s an Anglo-American Exceptionalist fun fest, complete with intel honchos such as the US Director of National Intelligence, Avril “Madam Torture” Haines; the head of MI6 Richard Moore; and FBI director Christopher Wray.

Remixed Diderot and D’Alembert Encyclopedias could be written about the Davos pathology – where a hefty list of multibillionaires, heads of state and corporate darlings (owned by BlackRock, Vanguard, State Street and co.) “engage” in selling Demented Dystopia packages to the unsuspecting masses.

...

And it gets juicier: the coke comedian posing as warlord may join via zoom from Kiev.

The notion that this panel is entitled to emit judgments about “peace” deserves nothing less than its own Nobel Peace Prize.

How to monetize the whole world
...

In parallel, very few people are aware that on June 13, 2019 in New York, a secret deal was clinched between the UN, the WEF, an array of oligarch-weaponized NGOs – with the WHO in the front line – and last but not least, the world’s top corporations, which are all owned by an interlinked maze with Vanguard and BlackRock at the center.

The practical result of the deal is the UN Agenda 2030.

Virtually every government in the NATOstan area and the “Western Hemisphere” (US establishment definition) has been hijacked by Agenda 2030 – which translates, essentially, as hoarding, privatizing and financializing all the earth’s assets, under the pretext of “protecting” them.

Translation: the marketization and monetization of the entire natural world (see, for instance, here, here and here.)

http://thesaker.is/all-quiet-panic-on-the-western-front/

There's more in there about neocons and USA exceptionalisn and how the USA pressures European nations to do whatever it wants, but the emblematic point for me is that financialists companies -"asset managers" - are apparently running not only actual productive corporations but also governments and NGOs in the west.

-----------
Pity would be no more,
If we did not MAKE someone poor - William Blake

6IXSTRINGJACK

Tuesday, January 17, 2023 7:52 PM

Quote:
Originally posted by SIGNYM:
Coincidentally, I just read this today. It's about the Davos meeting being held this week..

I didn't forget them either...

http://fireflyfans.net/mthread.aspx?bid=36&tid=65469&mid=11680
59#1168059

Quote:
Originally posted by 6IXSTRINGJACK:
Don't worry. You don't need to have a murderous AI inside your house to let AI ruin your life. Anyone with cell phones and speaker do-dads making their lives easier are being spied on and having all of their conversations catalogued for future use.

Maybe they'll even use an AI that decides who is going to live or die based off of all that collected data when the Super Villians at the WEF pull the trigger on whatever bombs they've set to wipe out half the world population.

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Growing up in a Republic was nice... Shame we couldn't keep it.

6IXSTRINGJACK

Tuesday, January 17, 2023 8:04 PM

https://www.foxbusiness.com/technology/musk-rips-satanic-esg-world-eco
nomic-forum-controversial-investment-regime

ARCHIVED LINK TO AVOID PAYWALL: https://archive.ph/5Nsat

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Growing up in a Republic was nice... Shame we couldn't keep it.

JAYNEZTOWN

Wednesday, January 18, 2023 7:10 AM

Normally I would have 'optimism' but its different now, BigTech purged many voice critical of lockdowns or banned people who might support Trump and in doing so purged voices that might have been critical of the economy and who were critics of other nations and their economic policy. You don't see doomsday economic guys in media anymore, there is 'Emperor has no clothes' element to Hunter and overall spending. Although recently I seen some dinosaur mainstream media clips be slightly critical of Kamala Harris and Joe Biden's policy so it might be changing. “Doomsayers” have it correct globally it is all in trouble and we are no longer in a Bull-ish economy. As we exit winter Fuel prices get better but the world economy still sucks.

6IXSTRINGJACK

Wednesday, January 18, 2023 7:23 AM

Quote:
Originally posted by JAYNEZTOWN:
Although recently I seen some dinosaur mainstream media clips be slightly critical of Kamala Harris and Joe Biden's policy so it might be changing.

Don't be fooled.

They know that Joe* is damaged goods and they won't be able to hide that fact for another 2 years, let alone 6 years.

They also know that Kamala Harris isn't qualified or capable to be a manager at McDonalds. She's just an IDPol beneficiary who fucked her way to the top.

It's an easy choice to throw the both of them under the bus, especially with all of these classified documents popping up all over his multiple properties now. There's no legitimate way they can continue to go after Trump for his documents if they ignore Joe*'s documents.

I'm not quite sure if this one was just too big to hide and/or pretend it didn't exist like all of the other Biden* scandals, but the speed with which the Leftoid Legacy Media has turned on Joe*, I have to believe that the ones pulling the strings don't want him anywhere near a podium in the 2024 Democrat Primaries and this is the noose they're going to hang him with.

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Growing up in a Republic was nice... Shame we couldn't keep it.

SIGNYM

Wednesday, January 18, 2023 9:40 AM

If they could hide the Hunter Biden laptop story, memory-hole the Afghanistan debacle, and convince 45pct of the USA that Trump was colluding with Russia.... or that Saddam was responsible for 9-11 and Hillary sent 33,000 about yoga pants ... trust me, there are few stories "too big to hide". They could keep Biden* wrapped in cotton wool forever

I think they were planning on ditching Biden* all along. But I can't imagine them putting Kamala in instead. How in Hell can they Constitutionally lever her out of place? And who would they out in instead? Gavin Newsom?

-----------
Pity would be no more,
If we did not MAKE someone poor - William Blake

SECOND

Wednesday, January 18, 2023 6:05 PM

Quote:
Originally posted by 6IXSTRINGJACK:

And I'll tell you what. If they can find some dumb jagoff to buy my home for what they're telling me it's appraised for right now, I will sell the house this afternoon and have everything moved out by the weekend without even having a plan about what I'm going to do with all the stuff and where I'm going to live.

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For your homeless future:
“The law, in its majestic equality, forbids rich and poor alike to sleep under bridges, to beg in the streets, and to steal their bread.” - Anatole France

One more quote especially relevant for Trump and his apologists:
“Stupidity is far more dangerous than evil, for evil takes a break from time to time, stupidity does not.” - Anatole France
https://www.goodreads.com/author/quotes/48535.Anatole_France

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two

6IXSTRINGJACK

Wednesday, January 18, 2023 7:41 PM

Quote:
Originally posted by second:
Quote:
Originally posted by 6IXSTRINGJACK:

And I'll tell you what. If they can find some dumb jagoff to buy my home for what they're telling me it's appraised for right now, I will sell the house this afternoon and have everything moved out by the weekend without even having a plan about what I'm going to do with all the stuff and where I'm going to live.
Here are three companies that will make your Dream of Homelessness a reality:

Dude. We're talking a quarter of a million dollars.

Ain't no cash for home outfit going to pay me a quarter of a million dollars.

It's called sarcasm, retard. I'm not going anywhere.

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Growing up in a Republic was nice... Shame we couldn't keep it.

6IXSTRINGJACK

Thursday, January 19, 2023 6:16 AM

BlackRock Accidently Admits Role In Reversal of Economic Good Times

https://www.realclearmarkets.com/articles/2023/01/18/blackrock_acciden
tly_admits_role_in_reversal_of_economic_good_times_876181.html

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Growing up in a Republic was nice... Shame we couldn't keep it.

JAYNEZTOWN

Thursday, January 19, 2023 7:29 AM

'Cassandra Effect'

I'm not sure what to make of some of the more well known but fringe Economy Doomers, I think after a while they just start shadow banning them and then of course they have no where to go and then end up on more fringe loony websites and alt-radio shows

one of those Doomsday guys, Gerald Celente an American trend forecaster

https://www.warriorforum.com/off-topic-forum/205314-gerald-celentes-pr
ediction-near-future.html

https://www.survivalistboards.com/threads/code-red-economy-in-collapse
-a-warning-from-gerald-celente.40786/

https://www.michaelbane.tv/forum/index.php?topic=5189.0

https://www.theapricity.com/forum/showthread.php?364969-What-are-you-c
urrently-watching-on-Youtube&p=7644140&viewfull=1#post7644140

https://forums.moneysavingexpert.com/discussion/2925400/gerald-celente
-were-living-on-borrowed-time

https://www.city-data.com/forum/politics-other-controversies/565326-ge
rald-celente-worst-economic-collapse.html

Gold Rigged???

'Peter Schiff' is a name that seem to know how to make money in a Bear Economy market, Schiff's warnings of a coming economic collapse earned him the name title "Dr. Doom".

https://web.archive.org/web/20100413100457/http://money.cnn.com/2009/0
1/20/magazines/fortune/okeefe_schiff.fortune/index.htm