A global recession is on the horizon - please read OP for mod warning

I am hearing about more and more chefs and waiting staff quitting work and either going on welfare or doing shift work in pharmaceuticals or medical devices. They are swapping bad hours and bad wages for stability and a better work-life balance.

Society is skewed in some respects by STEM and business and finance salaries which have gone through a boom in the past decade.

Meanwhile, many other sectors have gone nowhere. If you have the choice between working split shifts and unsocial hours in a restaurant, or a 9-5 in a clean pharma company for better pay and great benefits, then what would you choose?

Does the restaurant give stock options or pension contributions? Do you have corporate outings, team-building days, production bonuses etc? Not a hope, but that's the job market.

"A couple with 2 children get €450 a week" That's f*cking bleak. Fuel allowance of 924, fair enough. 33euro a week for 7 months of the year. HAP at €21k? Maybe, but that's at the very extreme end of HAP and very few would qualify for that. Besides the family never see this money.

So you've a family of 4 living on €25k a year. €480 a week to pay for everything besides rent. Not to be bad, but anyone with some gumption can get a job that pays at least that, with the promise of promotions and wage increases.

For 60 euro extra would people choose to work 40 hours or just get gov money?

This somehow slipped under the radar :)

Elliott Management: "The World Is On The Path To Hyperinflation, Which Is The Direct Route To Global Societal Collapse"

More articles about what they said but most of them paywalled/

Does anyone get the feeling that these boom bust cycles are created artificially at this stage. If your wealthy make as much money as you can during boom time and buy as much as you can in the pit of things. Is it just me or is there a pattern forming

Imo that has always been the pattern.... if you have your head screwed on you can attempt to take advantage.....

Of course it can be easier to progress the better your starting position

Interestingly a lot of very wealthy families will have frittered away the family fortune within 3 generations

Central banks seem to be stocking up lately.

I work for an MNC and we're in the midst of the third round of global layoffs this year. It's certainly hitting home now.

Thankfully for us, most layoffs have been US based due to lower costs of "separation" (read - severance payments)

IBEC saying we will avoid recession and expect economic growth, how? A child could see we are headed for a downturn next year coupled with high inflation.

Tech was never sustainable at these numbers, over hired and way over paid. I wouldn't be using cuts to Meta and Twitter to show the tech bubble is bursting though, they are old tat in the social media world, they've forgotten that no one wants to be on a platform your parents on. Tik Tok is leaving it in the dust while Zuck pisses investors money away on his VR Sims project.

What will they do next year?, Id say when this hits hard they will rely on the ECB/Fed to forget about their fight against inflation and resume QE and lower interest rates again. Ben Bernanke got awarded a Nobel prize for glorified money printing, thats how f***ked this whole system is. Pivot, lower rates more QE, and control inflation by changing the basket of goods in the CPI in order to lower inflation. Rely on mainstream media to run with this and anyone one who questions this is a conspiracy theorist or ring wing nut.

Job Done, well done central bankers expect Phillip Lane to be another Irish Nobel prize winner in 15 years time for figuring out how to manipulate the basket of goods for the CPI which in turn quashed inflation.