It seems that layoffs are happening almost daily:
One can argue that most if not all financial related jobs are of very little value as they have become a place of rape and pillage but these layoffs are occurring even for productive jobs such as the 10% haircut at AMD recently:
whether they represent 1%, 5% or 10% of the workforce they are occurring despite many corporations increasing cash reserves. There is a real disconnect that I can’t quite get a grip on.
If the powers that be are really interested in keeping this current 30+ year bubble alive they will have to push some of the hoards of cash into real wage and job inflation. These job cuts and wage cuts only feed into the hidden deflationary forces which have not hatched.