I have no idea what you mean. Companies rent office space. During Covid many companies found with modern communication equipment they could operate just as well from their employees homes. My wife has such a job. Her company went from three floors to one floor in the office complex they are located in. A lot of companies have done similar. My wife and her daughter work out of home for the same company and have done so for close to three years. "60 Minutes" did a segment on this a few months ago. Empty buildings all over Manhattan. Those mortgages still have to be paid.
Want to Know What's Really Happening With the Economy?
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Over70irregs
Well-Known Member
Companies are stalling on their leases. They cannot get cheap loans. Some will get bailed or sold cheap to buyers. Bankruptcy will be used. Small overhead spaces are the best to churn.
That has nothing to do with what I'm talking about. Many companies have stopped renting all or most of the office space they rented before the Covid shutdowns. Found they could get by fine without it. This leaves owners of office buildings not being able to meet their mortgages. The commercial loans space could collapse like the residential mortgage space did in 2008. Can and will cause bank collapses. You are right that banks will consolidate as the bigger banks swallow up the failing smaller banks.
Over70irregs
Well-Known Member
No one wants to be stuck in office. This is preparation for automation. Businesses need to change their thinking and expand their base where they can. Compartmentalization of space is possible. You can have office space and artist/health/beauty rental.
If Covid hadn't happened most of these companies would still be in offices. Way too many empty offices now to be taken up by other businesses.
Over70irregs
Well-Known Member
Technology has taken a big chunk. You are correct. It’s an excellent time for a renaissance and reinvention.
BrownFlush
Woke Racist Reigning Ban King
PT Car Washer
Banned
Fake news.
Thebrownblob
Well-Known Member
Excellent analysis and breakdown thank you
US Real Average Weekly Earnings Monthly Insights: Real Earnings | YCharts
December 31, 2020: $398.07
April 30, 2024: $380.56
-4.4%
Thebrownblob
Well-Known Member
Wow, actual analysis and breakdown! @PT Car Washer has been replaced..
PT Car Washer
Banned
Replaced by fake news.
Fake news about the fake news.
FedUPSer9816
Full Service
I make more than that every day. My wages have gone up every year since starting FT in 2017.
Just A UPS Guy
Bully.
That's not what that means.
Sportello
Banned
Annual mean salary per employee in the U.S. 2022 | Statista
In 2022, the average wage and salary per full-time equivalent employee in the United States was at 78,465 U.S.
www.statista.com
When I was very young a man with a 5th grade education tole me,,,,," The American economy is powered by one thing only....The ability of poor people to get credit"....How true those word were. Today 70% of the US economy is consumer spending. It's pointless to deny the fact that the Chairman Of The Federal Reserve Board runs this country. What he's trying to do here is pretty obvious. Interest rates are right now within historical norms and he seeks to keep them there will getting inflation to within the Fed's goal of 2%.
Every morning I make it a point to check out Kenny Polcari morning commentary. Early this spring Kenny said that the Fed is unlikely to make a major move on interest rates and money supply if inflation will settle into the 3% range and employment remains strong.
You guys are all correct when you talk about indebtedness in all forms and the danger of default is there. At the same time money must continue to move freely and if it stops moving you've got a recession and economies are much harder to restart then they are to stall out.
Every morning I make it a point to check out Kenny Polcari morning commentary. Early this spring Kenny said that the Fed is unlikely to make a major move on interest rates and money supply if inflation will settle into the 3% range and employment remains strong.
You guys are all correct when you talk about indebtedness in all forms and the danger of default is there. At the same time money must continue to move freely and if it stops moving you've got a recession and economies are much harder to restart then they are to stall out.
Over70irregs
Well-Known Member
Printer is already running. This ride will continue. Look into assets gentleman.
DriveInDriveOut
Inordinately Right
This is obviously not true.
The Fed tried to tame inflation and failed because of the radical Democrat party's out of control spending.
Your pointless opinion that you claim is a fact, is proven wrong by the current reality.
DriveInDriveOut
Inordinately Right
Your real wage has dropped $1.42/hr.
And that's with the big bump in pay we just got last year.
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