BlackRock Plans to Cut About 400 Jobs in Coming Weeks
bloomberg.com
bloomberg.com
https://news.ycombinator.com/item?id=2813324
So to reiterate, I'm not saying you're wrong. HN and by extension most news reporting and aggregation seems to be negative. People think it is a work of public relations machinery when we hear positive news (and sadly they are also usually correct).
Don't quote me on this but I think in the original Matrix movie they talk about how they created perfect world for people but they kept rejecting it because they could tell it was not the real world or something. I think I'd feel cynical when I hear mostly positive news most of the time. Sorry, I can't help it. Even in this piece about dropbox five years ago… I was still suspicious about whether they'd continue to exist today. I mean they were paying Amazon for all that storage. I knew a lot of my college friends had drop box accounts but I didn't know anyone who paid for it. I still don't know more than three people who have paid for dropbox.
The simple fact is - the world operates on a network of debt and saving. So 400 jobs lost at blackrocks - means 400 new opening for green jobs in Australia.
Capital really does not live to stay in one place - it always wants to work. If you have 10 million dollars in the bank - you will be burning money just due to inflation.
Yeah, I've heard people explain it to me before. I don't fully understand it but I appreciate the fact that inflation is not always a bad thing and neither are taxes.
For example, if the people who owned all the land wanted to leave it fallow then they'd have to pay the tax on it somehow so they have an incentive to not leave it fallow.
I guess similarly with inflation and capital. You can leave your money doing nothing but there is a penalty for doing so (because inflation).
This is not necessarily true. People can and will hold onto their cash negating any growth of the market in the face of job losses, its not a zero sum game. In fact job layoffs can increase panic and increase hoarding of capital.
> If you have 10 million dollars in the bank - you will be burning money just due to inflation.
1-2% deflation can be better in certain market climates than investments which create jobs, or you put it in a safe investment such as bonds which is in some sense hoarding, you don't take on significant risk to create anything you just park your cash somewhere that it will not suffer losses from inflation. Both of these circumstances do not grow jobs or the market.
Agreed. Return ON capital is different from return OF capital.
They may be shady as f* but I can wrap my head around them so they don't puzzle me.
In contrast Hackernews has almost daily 'X is hiring for Y', where X is a YC company.
It's not hard to manipulate markets. It IS hard to manipulate markets and make a profit!