Monitoring US Economy

[another_armchair]

IT will probably reset itself to its pre-covid normal.

2020 started with -

1. Variable pay - Cut

2. Offer letters to freshers - Withdrawn

3. Renegotiate salary with freshers - Check

4. Layoffs

5. PiP

 

[Prakshepak]

Most won’t. They will hang in there using the grace period and worst case switching to visit visa. Buy time. Those on the GC queue are pissed.

There is no grace period for h1b. Moment you lose job out of status. But many try to get new job before uscis ever notices.

 

[here2where]

There is no grace period for h1b. Moment you lose job out of status. But many try to get new job before uscis ever notices.

60 days grace period available for H1B holders.

“You can stay in the US for 60 days if you lose your H1-B job. USCIS allows a grace period of up to 60 days for non-immigrant workers in E-1, E-2, E-3, H1B, H1B1, L-1, O-1, and TN status.”

 

[here2where]

IT will probably reset itself to its pre-covid normal.

2020 started with -

1. Variable pay - Cut

2. Offer letters to freshers - Withdrawn

3. Renegotiate salary with freshers - Check

4. Layoffs

5. PiP

About time. Offers being dished out for last 12-18 months were obscene.

 

[Varzone]

About time. Offers being dished out for last 12-18 months were obscene.

Are you a manager?

 

[another_armchair]

About time. Offers being dished out for last 12-18 months were obscene.

Indeed. It was good till it lasted. Order slowly but surely being restored.

 

[Harry101]

There is no grace period for h1b. Moment you lose job out of status. But many try to get new job before uscis ever notices.

There is a 60 days grace period

 

[here2where]

Are you a manager?

No

 

[Wisemarko]

U.S. Remains ‘Only Game in Town’ for Stock Investors
Buy-the-dip mentality has driven U.S. stocks to record valuations despite selloff

Eric WallersteinUpdated Nov. 21, 2022 at 4:38 pm ET

Investors have poured more than $86 billion into U.S. equity mutual and exchange-traded funds in 2022, according to Morningstar Direct data through the end of October. That is on track to mark the second-highest sum since 2013, following last year’s inflows of $156 billion.

Many investors credit the robust U.S. labor marketconsumer spending for helping American stocks retain their luster in the face of a darkening global economy.

U.S. Remains ‘Only Game in Town’ for Stock Investors

A buy-the-dip mentality has driven U.S. stocks to record valuations despite selloff.

www.wsj.com

 

[Wisemarko]

U.S.-Europe Trade Booms as Old Allies Draw Closer

Russia’s attack on Ukraine and China’s economic travails are encouraging a trans-Atlantic trade and investment renaissance.

www.wsj.com

“The U.S. has imported more goods from Europe than from China this year, a big shift from the 2010s when China emerged as America’s dominant trade partner. From Swiss watches to German machinery and Italian luxury items, money and products are flooding across the Atlantic as never before.”

 

[dfcool]

US, south korea going after Kwon but not Sam Bankman. Both are big crypto frauds.

This shows how corrupt US finance is, If you have political connections nobody comes after you.

 

[SKC]

US, south korea going after Kwon but not Sam Bankman. Both are big crypto frauds.

This shows how corrupt US finance is, If you have political connections nobody comes after you.

SBF arrested finally in Hawaii under multiple counts of frauds.

 

[KurtisBrian]

US plundered and in trouble. Greeks and Germans never stop seeking loot and revenge, kicking the crap out of the stupid Romans, AGAIN!

 

[FalconSlayers]

 

[SKC]

What led to closure of this Bank? Is it closing or claiming bankruptcy?

 

[another_armchair]

What led to closure of this Bank? Is it closing or claiming bankruptcy?

Sorry. We just ran out of cash.

 

[SKC]

Sorry. We just ran out of cash.

Mota bhai se le lo thora! Let Mota bhai buy this bank now!

 

[another_armchair]

https://www.rbi.org.in/Scripts/FAQView.aspx?Id=64

3. What is the maximum deposit amount insured by the DICGC?

Each depositor in a bank is insured upto a maximum of ₹ 5,00,000 (Rupees Five Lakhs) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of bank's licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.

Anybody knows how things roll if amount in said bank exceeds 5 lakhs? What is the present state of PMC bank depositors/account holders?

Said it in the past, saying it again - keep some amount of savings in precious metals. Be it gold, silver.. yes, safety is a big concern but still...

Never trust your government completely/blindly.

They won't flinch before sacrificing you for the 'greater good'.

Going full digital is akin to leaving your balls in the alligators mouth.

 

[another_armchair]

What led to closure of this Bank? Is it closing or claiming bankruptcy?

Jokes aside, in absolute layman terms -

1. SVB saw a flood of deposits during covid thanks to QE.

2. SVB invested in long term deposits at low rates of interest.

3. Once Fed started raising rates, depositors found greater returns outside of SVB and started withdrawing money.

4. SVB lent money against deposits to VC firms who in turn invested in startups.

5. SVB suddenly finds itself short of cash. Loans lent seem more than cash in hand leading to difficulty honoring withdrawal requests.

Refinancing gets tough. Board gets panicky. Word gets out on the street. Share gets hammered out of shape, can't pledge those and borrow cash as few would lend against a falling stock. The sharks(big banks) lie in wait for the victims weakest moment. Customers who abandoned ship early made it out just in time before the shutters fell.

BoFA is expected to take a hit in excess of $100 billion.

No lessons learnt since subprime crisis. ~ftw~

 

[Vinash]

Americunts being hypocrites. What's new!

My only worry is a section of Indians who won't learn the lesson and who'll continue to blindly believe anything that comes from the West.