Facebook is truly baffling to me.
I don’t know a single person who regularly uses Facebook. My kids would rather eat broccoli than go on that site. Who? How?
Basically everyone who voted for trump in 2020 is on Facebook.
We use GCP at work, no complaints. BigQuery gave us a huge boost over our previous Hive/Vertica stuff for one.
But I bet you know a bunch of people who use IG or WhatsApp…
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boomers
4.9% growth? What the fuck? The American consumer simply will not stop spending money, even if they don’t have it.
I’d wager food and utilities and rent are the drivers. They’re all way past inflation levels afaik.
Yeah this is likely just things being more expensive and people still having to buy them.
Unemployment still super low too right? Economy just not used to most people being able to find a job?
We don’t have to speculate that much, and i find it weird how y’all aren’t taking this as obvious good news.
I think the economy right now is at a place where increased corporate profits still haven’t squared with staffing levels.
I think there is perpetual low end help wanted because staffing policy isn’t being met (they’re getting by with less people but corporate policy hasn’t been adjusted).
It’s going to take years for the realignment. Bureaucracy is slow.
For the vast majority of people inflation for the shit they actually consume like utilities, groceries, cars, houses, health care, etc. is still far outpacing wage growth. This means they’re getting poorer, and they know it, and they’re justifiably mad about it.
All this economic growth is flowing to rich people. The rising tide isn’t lifting all boats, it’s drowning people. BIDENOMICS, though, vote blue!
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Because profit seeking entities are pigs at a trough and now that the band aid is ripped off and they know they can charge $8.69 for a bag of Doritos and they will sell, they’re not going to turn the spigot off.
All wage growth is going to be gobbled up by necessities so the bottom 50% will have no change or somehow be worse off while the economic gains flow effortlessly to the top 1%, as designed.
It’s probably good for you since you make a quarter mil+ and anything that is good for stability is good for you.
Interesting thought if I’m reading right, you feel like companies still trying to hire at same levels have historically but now due to squeezing workers/increased productivity/whatever they don’t actually need these extra employees?
Yes, more or less.
Well if they want to keep all their employees below full time threshold they might need to hire a couple more
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Yeah it’s an interesting thought, I’ve seen it where we are still “understaffed” but also haven’t collapsed and functioning about same as always. But maybe it’s because everyone is getting maxxed out so much they close to some breaking point where few people quit and everything collapses
GDP isn’t a very good metric for figuring out how the economy is doing unfortunately. I’m reacting negatively because I think it gives the honestly pretty reckless fed grounds to possibly hike rates again. I’m also very aware of what freight volumes look like and what I could see on my fairly expensive proprietary commercial software was the opposite of optimistic during 3Q.
This is the problem with broken metrics like GDP honestly. You can get a good reading on a bad result and probably vice versa although honestly that’s not the direction it’s broken.
How much faster do you think the poors boats are going to rise under the Republicans?
I think they telegraphed one more rate hike and they’ve done exactly what they have said they would do I’m not sure this has any effect.
If there is the same thing next quarter? I think the beatings will continue until morale increases.