@tdarling1 Per ECRI( the best in leading marco), March 20th, leading indicators of consumer spending remain robust, despite increase in gas prices. Upper K still spending. Ted, trust your signals.
@RPKent@HedgeyeFIG If you look at XYZ’s headcount going back to pre-COVID, this reduction takes them back to pre-COVID numbers
He screwed up as an executive, hence the stock performance, but there are countless software companies that over hired during COVID
Maybe Block laying off a ton of employees is a sign that AI is gonna destroy everything
Or maybe the stock is down 80% from the highs and they overhired and AI is a convenient excuse
Two quick thoughts on the "AI will destroy jobs" narrative: 1) If a technology destroys jobs it is not a productive technology as it can't afford itself. 2) More than 30% of the plumbers and electricians in the US are over 55. This is NOT a "learn to code" comment. We need more.
@JasonP138 Not a report...ECRI solid leading indicators: service inflation(easing) + commodities (up) but indicators not pointing to stagflation( sticky but not up). Interesting? Thanks for your great work & Thanks for your reply.