Amazon is about to fire 18K people. That's 6 percent of the entire amazon stuff. But Amazon
is not alone. Take Meta. They are cutting over 11K jobs in the coming few months. Salesforce
announced that it's laying off over 8K employees. Goldman Sacks is about to cut another 3,600 jobs.
If you take the entire tech industry, there are over 100K people who are about to be unemployed,
and that’s not event the full number. These are not cheap unskilled labor. These are
professional software engineers, accountants, executives, and managers. These are the people
with high qualifications and experiences who are getting fired. What do you think is waiting
for the rest of us? Especially the people who don't have skills that would make them unique.
And why is that happening? Exactly!
We have entered a recession! A crisis, unlike any other crisis we have seen in history!
A crisis that could decimate the entire economy! A crisis that can
take down everything we have built for years.
They don’t want you to know that; instead, they claim that they have achieved the
lowest unemployment in 50 years. But that's nothing but a false image of the post-pandemic
recovery. Now that the era of cheap money is over, giant corporations can no longer afford
to maintain so many employees, knowing that a recession isn’t coming but its already here.
The S&P500 is back to where it has been before the pandemic. Where on earth did
these trillions of dollars go to? Why is everything back to where they have been?
Take amazon stock, for example; it's down by over 50 percent since its peak.
I remember a year ago; everyone was shouting that things would keep growing forever. But
here we are! one of the largest companies in the country is witnessing how its stock is collapsing
in less than a year. I can't even imagine what will be happening in 2023. If things continue
the way they have been going, the stock can hit the rock bottom. Its legendary founder and CEO,
Bezos, is no longer in the driving seat. Who knows where Andy Jessy will take the company to?
Meta is down by 65 percent since its peak. The sell-off is over. The rich people sold as many
stocks as they could last year because the market reached its peak, and it was time to cash out. The
little guys lost fortunes, especially those who got into the world of investing when the era of
cheap money began. They lost the barely saved money they could save for the last 10 or 15
years of their lives, it will take them over a decade to get back to where they have been. And
we are not talking just about the stocks. If we include crypto into that, it's a disaster!
People didn't just see their investments go down by 50 percent or 70 percent. They
saw their wallets destroyed by a CEO who mismanaged the company.
Even Apple, the world's largest company that seems unshakable, it’s not just the most stable tech
company, but the most stable company in the world, is now witnessing how its stock price
is falling down. It's barely at a $2 trillion company now. Back at the peak of the pandemic,
its valuation crossed the $3 trillion mark. Over 10 trillion dollars were wiped out of
the market. From the market lows of 2020 to the peak at the end of 2021,
America’s stock wealth nearly doubled, from $22 trillion to $42 trillion. The bulk of that wealth
went to those at the top since the wealthiest 10% of Americans own 89% of all the stocks.
While the corporate giants kept telling us that we should keep investing because
things will keep growing, they had the inside information that things will come
back collapsing. So they started this massive sell-off while telling us the absolute opposite.
But what if I told you that Michael Barry knew it since the beginning?
After predicting the biggest crash since the great depression,
he has made hundreds of millions of dollars and joined the ranks of the big guys.
In fact, if you go back to his tweets, he actually predicted that the mother of all
crashes is coming. It is coming to destroy the market. It is coming to destroy the crypto! It
is coming to destroy the stock market! It is coming to take down the economy!
The crash has officially begun. The only question is, how bad will the crash be? Will the crash be
like the last crash that Michael burry predicted that took down the world economy? Are we about to
witness another great depression that our grandfathers witnessed in 1929?!
But before we get into that, make sure to give this video a thumbs up, and let's dive in.
When the fed turned on the printing machine, we all knew that it was going to backfire. I
have made multiple videos talking about that in the past, but I got criticized that I am
jealous of the people who are making money now! Where are these people now?
If you have made money in the last 2 years, good for you, but I am pretty sure that most
of the little guys lost money since the big guys had far more information that let them
sell off everything at the right time, bringing the market to its knees. At the end of the day,
stocks don't just crash. Someone is selling big, for them to come to this point.
According to Michael burry, there is nothing that can save us from this recession! The printing
press will even worsen the crisis, lower taxes aren't effective enough, and interest rates need
to stay high enough to bring inflation down. We are looking at an extended multi-year recession.
Before the fed took us into this roller coaster the past 2 years, it carefully planned to
minimize the effects of the recession by extending it into many years. However,
the president of Russia had other plans when he invaded its neighboring country. After imposing
thousands of sanctions on Russia, the Russian leader decided to punish Europe and cut off
their main source of energy - liquefied gas! The second wealthiest content suddenly had
to fight for what was left of gas in the market, pushing prices to skyrocket, which only worsened
global inflation. It might cooled down a little bit, but we need years to solve it.
While everyone is focused on the crisis that unfolded in the last 2 years, things are much
bigger than that. Back in the 1991, when the soviet union, the US won the cold war,
and now it’s the only superpower in the world. Nobody could question the united states’ global
dominance. That global dominance came with great perks. The US began using the printing press to
solve all of its problems. Look at how the United state’s federal debt began growing.
It printed over 2 trillion dollars to invade Iraq, 5.8 trillion dollars on the war in Afghanistan,
1.7 trillion dollars to bomb Syria, and 3.9 trillion dollars to save the economy
from the 2008 housing crash. Over 5.2 trillion dollars during the pandemic,
raising the total national debt to over 31 trillion dollars. Sooner or later, someone will
have to pay that debt. And that responsibility will lay on the shoulders of future generations.
The problem with debt is that it comes with interest, and with each passing day that the debt
isn’t paid, it grows faster. The government can’t even afford to start paying that debt because
it just approved a 1.1 trillion dollar defense budget for 2023, dozens of billions of dollars to
support Ukraine against Russia’s aggression and a promise to defend Taiwan should china decides
to invade it, while the average American who took hundreds of thousands of loans to go to college in
a promise to find a stable job that could let him pay the bills is now getting fired from largest
tech companies such as Amazon, meta or salesforce. The younger generation can’t afford to buy homes
because the economy is in such bad shape that mortgage rates have even crossed 7 percent.
While the top 1 percent has made trillions of dollars,
the average American is getting out of the pandemic even poorer, forced to go back
to living with their parents and hundreds of thousands of debts that they can’t pay back.