Welcome to another BroStocks Friday newsletter…a wild and crazy week is covered below, Musk begins mass layoffs one week in at Twitter, Feds raise rates, DOGE goes up and…then down, Chinese stocks rally, and Starbucks soars as people keep sipping through inflation prices.
Personal Finance & Economy
A major hedge fund just warned that hyperinflation could lead to ‘global societal collapse’—and it blames the central bank(Fortune)
We start off with a rather grim one. What exactly is hyperinflation? It is defined as a monthly increase of 50% or more in inflation, which in the view of this hedge fund would lead to ‘global societal collapse’. Needless to say, we hope they’re wrong.
Interest rates will keep rising. How high will they go?(CNN Business)
No one knows what’s next, but it seems clear the Fed will keep going so long as inflation isn’t under control.
Investors Pile Into Cash at Fastest Rate Since COVID Crisis-BofA(Reuters)
Cash is king again? This is an interesting development and a reflection of the uncertainty ahead.
The number of houses listed for sale soared in October — but a closer look reveals a housing market that’s cooling rapidly(Marketwatch)
I would say, good news for buyers, bad news for sellers but I certainly wouldn’t want to lock in on the current interest rates…
Too Many Rich People Bought Airbnbs. Now They’re Sitting Empty(Time)
The pandemic boom for cash-rich investors is devolving into a potential bust.
Stocks
Chaos, confusion reign ahead of Twitter layoffs(Reuters)
Elon Musk certainly keeps things interesting, but it’s a wild ride at Twitter since his new takeover. The physical offices even closed temporarily in preparation for today’s mass layoffs.
Starbucks U.S. sales climb as customers spend more on pricey drinks(CNBC)
Brostocks has talked about the theory of inferior goods and our two inferior goods stock picks have fared well recently, but Starbucks is now defying gravity at a time when consumers should presumably be tightening their belt.
GameStop’s Free Fall Is A Nonstop Disaster(Investors Business Daily)
Harsh reality pokes a pin in the meme dreams.
China Stock Frenzy Enters Overdrive on Hopes That Worst Is Over(Bloomberg)
A bit of an unexpected development, but rumors around an end of, or at least reaching a peak of, zero COVID policy has driven Chinese stocks into a rally this week.
Crypto
Dogecoin Is Slumping After a Report Suggests the Twitter Crypto Dream Is on Pause(Barron’s)
I was loving the mini DOGE bump after Elon left me holding the bag in 2021. But it looks like the meme bump from his Twitter takeover is temporarily on pause mode as the price was falling back down again heading into the weekend.
Life at Work
The federal government wants to stop your boss from spying on you(Business Insider)
Remote worker surveillance has become a huge area concern for rights of privacy. The National Labor Relations Board is looking to step in.
Gen Z’s not lazy — they’re just refusing to put up with the toxic work culture that boomers created(Business Insider)
As Gen Z begins to take the mantle of new kids on the block in the American workplace, like millennials before, they are breaking down barriers and attempting to reimagine workplace culture.
Retail & Commerce
Inflation to dampen holiday spending, retail trade group forecasts(CNBC)
The National Retail Federation is projecting a tough holiday season at a time when inventory supplies are in excess.
Gap’s real Yeezy problem(Retail Dive)
The brand continues to struggle for a sense of identity in an incredibly crowded industry.
How Macy’s has managed to avoid inventory glut(Retail Dive)
Macy’s has been an unlikely winner in supply chain management while other top brands struggle with excess inventory.
Entertainment
Powerball balloons to $1.5 billion without Wednesday jackpot winner(USA Today)
Here’s one way to survive a recession! Another week goes by and the Powerball still has not been drawn. The next drawing will be tomorrow, Saturday night. Your author will be participating for sure.
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