Bank of America Memo: “We Hope” Conditions for American Workers Will Get Worse

[Slim Pickens]

The financial behemoth privately fears that regular people have too much leverage.​

A Bank of America executive stated that “we hope” working Americans will lose leverage in the labor market in a recent private memo obtained by The Intercept. Making predictions for clients about the U.S. economy over the next several years, the memo also noted that changes in the percentage of Americans seeking jobs “should help push up the unemployment rate.”
The memo, a “Mid-year review” from June 17, was written by Ethan Harris, the head of global economics research for the corporation’s investment banking arm, Bank of America Securities. Its specific aspiration: “By the end of next year, we hope the ratio of job openings to unemployed is down to the more normal highs of the last business cycle.”

Gotta love banks,right?

More here: https://theintercept.com/2022/07/29/bank-of-america-worker-conditions-worse/?

 

[moose eater]

The financial behemoth privately fears that regular people have too much leverage.​

A Bank of America executive stated that “we hope” working Americans will lose leverage in the labor market in a recent private memo obtained by The Intercept. Making predictions for clients about the U.S. economy over the next several years, the memo also noted that changes in the percentage of Americans seeking jobs “should help push up the unemployment rate.”
The memo, a “Mid-year review” from June 17, was written by Ethan Harris, the head of global economics research for the corporation’s investment banking arm, Bank of America Securities. Its specific aspiration: “By the end of next year, we hope the ratio of job openings to unemployed is down to the more normal highs of the last business cycle.”

Gotta love banks,right?

More here: https://theintercept.com/2022/07/29/bank-of-america-worker-conditions-worse/?

BofA was one of 2 serial offenders where selling fraudulent shorts occurred REPEATEDLY, and BofA and Citibank BOTH were repeatedly allowed to skate with a slap on the wrist by the enforcement arm of the SEC... often their former work place buddies in a new cheap suit and a new role.

When corporations underpay their hirees, they have more money to make money with. Like the military, the true corporatists don't give a rat's butt about their workers. They have been living for the last 40+ years in a place where when one employee croaks, they hire another for even less money; lack of experience and tenure, and all that bullshit. Never mind the dead worker wasn't apt to have been making a living wage in the first place.

 

[St. Phatty]

I don't speak with the Russian and Chinese governments often, but when I do, I remind them that many Americans recognize that they will be BETTER OFF without institutions like the Fed.

So that Russia or China could literally drop one of their PetaJoule/ TeraJoule scale heating devices on top of the Fed - and the lives of the General Public improve.

First the Fed prints $5 Trillion (it sounds better when you say it that way) and THEN says, "oh look, inflation".

It's amazed the sh-t Americans fall for and put up with. AND FINANCE.

My HELOC interest rate has gone up about 2% in the last year, which forces me to abandon all consumer purchases, so I can pay down debt.

That puts the squeeze on all the local businesses I would other wise visit.

Ron Paul has it 1/2 right when he says "Audit the Fed". He would be more honest if he said, "Nuke the Fed". (Of course, that can be done using high-neutron-flux devices that leave little residual background radiation - and don't damage the Fed Building - so that it can be used by skateboarders and homeless folks. Environmentally Friendly !)

We would truly be better off if Mr. Powell had a Trillion Trillion Neutrons coursing through his body for just a few microseconds.

Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level

View the total value of the assets of all Federal Reserve Banks as reported in the weekly balance sheet.

fred.stlouisfed.org

Don't forget - that HUGE money increase in 2020 was in response to Covid19.

It's becoming very obvious that the US financed the creation of Covid19. That news was first broken in April 2020 - by Newsweek.

Americans are SO FUCKING STUPID.

They financed the pandemic that was the official reason for all that money printing.

Then only $300 Billion of the initial $3 Trillion went to the General Public.

Not only are my Cat and Birds smarter. My sow-bugs are smarter than that. The worms in my worm bin are smarter than that. And they only have about 300 brain cells.

 

[Tudo]

From the latest IRS job announcement apparently designed to start staffing Biden’s new 87,000 man (and woman) standing IRS Army.

 

[Loc Dog]

The system in USA is modern slavery. Give the people just enough to survive, and keep them in fear of losing their job and living on streets. America was great under Eisenhower. Up to $4 million (after deductions) a year taxed at normal rate. Over that taxed at 90%. There should be no such thing as billionaire.

 

[St. Phatty]

From the latest IRS job announcement apparently designed to start staffing Biden’s new 87,000 man (and woman) standing IRS Army.

Taxation without Representation -

is it worse now than in 1775 ?

is the US gov. more coercive than the English King, in 1775 ?

Though actually the King was partly responding to the pressure from his bankers, to "milk the territories" for some $$.

they sure gave the Colonists the incentive to lie about any Gold they found.

 

[BeasleysBud]

From the latest IRS job announcement apparently designed to start staffing Biden’s new 87,000 man (and woman) standing IRS Army.

Just a bit of research- https://time.com/6204928/irs-87000-agents-factcheck-biden/

 

[Tudo]

Hmm, somebody's lying. Who do you reckon it might be?
https://www.atr.org/treasury-confir...0-new-irs-agents-enough-fill-nats-park-twice/

 

[Three Berries]

Yesterday they listed the qualifications to apply and one was the ability to use deadly force if necessary. They quickly took the ad down after betting blasted for it.

 

[armedoldhippy]

Hmm, somebody's lying. Who do you reckon it might be?
https://www.atr.org/treasury-confir...0-new-irs-agents-enough-fill-nats-park-twice/

are we taking bets ? that's the ONLY way that park will fill up, lol...

 

[St. Phatty]

Just a bit of research- https://time.com/6204928/irs-87000-agents-factcheck-biden/

What caliber handgun do the tax collectors carry ?

 

[armedoldhippy]

What caliber handgun do the tax collectors carry ?

nearly every federal LEO is issued a 9 mm. certain groups get to use something else, a few go with .45s and there are reportedly some dinosaurs that still carry .38 spl wheelguns. everyday IRS employees are not LEO... nor are there "tax collectors" that go door to door that might need a firearm. the world is a scary place when you don't understand anything, isn't it?

 

[Three Berries]

I wonder do the FB I operate overseas? And with the roundup of all the crooked crooks coming up they will need a lot of agents.....

 

[Loc Dog]

 

[Three Berries]

View attachment 18744141

When was the last fair election? Muh Democracy.......

 

[St. Phatty]

I wonder do the FB I operate overseas? And with the roundup of all the crooked crooks coming up they will need a lot of agents.....

Yes they do.

 

[flylowgethigh]

Arron Russo was killed over his little documentary ‘Loose Change’. It was about how the individual income tax is not a valid law.

If it is still out there, worth a look.

The IRS has been buying ammo like crazy. The .guv is broke, and moolahs are needed to stay in control.

 

[Loc Dog]

When was the last fair election? Muh Democracy.......

 

[Loc Dog]

Arron Russo was killed over his little documentary ‘Loose Change’. It was about how the individual income tax is not a valid law.

If it is still out there, worth a look.

The IRS has been buying ammo like crazy. The .guv is broke, and moolahs are needed to stay in control.

They just keep printing money with no backing (monopoly money) except peoples faith in it and let the billionaires horde more money then they could spend in 100 life times. I worked at AT&T executive division in 1990's and was told then, they give 60% to party they think will win, and 40% to the other. Either way, they get whatever they want.

 

[Three Berries]

They just keep printing money with no backing (monopoly money) except peoples faith in it and let the billionaires horde more money then they could spend in 100 life times. I worked at AT&T executive division in 1990's and was told then, they give 60% to party they think will win, and 40% to the other. Either way, they get whatever they want.

Where I worked we use to make batteries for the Navy. Didn't matter who was the party in power. When the Navy came everything got a new coat of gray paint!