Finance | The Industry of Uncertainty S04:E04
Pirates of Finance
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How Much Do You Think About the Economic Impacts of This?
The recession is really just an epiphenomenal effect of people mirroring each other. So when everybody sees that like these layoffs happening and everybody else going to lay out, it just creates a cascade effect. And I'm not sure we can have an over like reversion of the mean because there's no mean there. But my guess is the recession is not. Well, it's not even we're not even necessarily in a recession, but the recession people are expecting isn't so deep that people at major firms will go, yeah, I'll take a 70% haircut just to retain my job.
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