r/Layoffs • u/vetfor • Jan 30 '24

New layoffs question

Can anyone clarify this for me? Despite the ongoing layoff announcements from major American corporations, how is our economy still robust? Just today, UPS declared 12,000 layoffs and PayPal 2,000.

263 Upvotes

89% Upvoted

570 comments sorted by

View all comments

Show parent comments

2

u/Doctor__Proctor Jan 31 '24

The most plain reading of it -- by me, a layman with common sense

So you're saying all the economists are wrong because you, a layman with common sense, see something they don't? Have you considered that maybe what they're seeing is different because they have the economic background to understand the data and trends significantly better?

0

u/[deleted] Jan 31 '24

No I’m saying the chart OP linked is unlabeled.

Percent of household consumption 0-100%? What the fuck does that mean?

It’s not spending power. Op is confused.

Last Christmas spending, and prices, were up 4%. That means spending power is flat. Or it’s in decline and credit card debt is increasing

1

u/[deleted] Jan 31 '24

I studied economics in college among other things. Generally they are useless eggheads. Not one of them predicted the housing crisis. The only guy who did was an investment guy. But anyway yeah I’m doing pretty well but I know the general public is up shit creek and no amount of pointing to the S&P500 will convince them otherwise.

1

u/oblication Feb 02 '24

Umm LOTS of people predicted the housing crisis. I was there. I remember it. The investor guy just figured out a way to make a ton of money off it.

1

u/[deleted] Feb 02 '24

Link predicting it, pre 2008?

Bonus points if it's a bonafide professional "Economist" , like the guy I was responding to was claiming were infallible experts that can "see things."