Deutsche Bank mass-fired first sign early recession?

Filed in NEWS ANALYZES by on 10 July 2019 6 Comments

source: zerohedge.com

You probably got it; the mass layoffs at Deutsche Bank (DB). Unannounced, thousands of employees received their resignation letter last Monday and were able to do so without mercy immediately leave the building. The largest waves of redundancy hit London and Washington DC, but thousands elsewhere in the world were also missing. In total, 18.000 was allowed to lay down their work and next year the total reduction will increase to 74.000 employees. That is a big football stadium full and the effect is of course huge, because in London alone 3000 employees may suddenly be unable to pay their mortgage or rent because the chance of a new job is not exactly high.

It is remarkable that such a bank suddenly starts to cut at the time when the economy is not going too well with the economy anyway. As if out of the hundreds of billions in such a bank, a few tens of millions in labor costs are not just a drop in the ocean. As far as I am concerned, we can see here the signs of the crisis that has long been planned, which will be given a little push. Although we may say that the few thousand men in the United Kingdom's approximately 65 million population are not really of great influence, we should not underestimate the snowball effect.

The British economy has already come to a standstill. The Guardian reported on 3 July this year. the following:

For the first time in seven years, the UK economy has experienced a contraction during the first quarter (a detailed study reports) because the threat of a no-deal Brexit is stifling business.

Growth in the UK's dominant services sector almost stalled in June. This confirms the bleak outlook for a month in which industry and the construction industry are plunging in the opposite direction.

The figures indicate that the UK economy contracted by around 0,1% in the three months to June, says IHS Markit and the Chartered Institute of Procurement and Supply (Cips), which compiles the monthly survey.

The alarm for the health of the economy is ringing, now that Britain is expected to leave the EU before 31 October. If this process does not reverse quickly in the third quarter, the country will already be in a recession before the Brexit.

The figures in the US are also alarming, as we see on the website alt-market.com (click to read):

Important indicators such as the housing market suffer from a general fall in sales by 7,8% and a fall in prices by 8,1%.

Car sales are running at the lowest rate in four years, while the interest on car loans is rising.

We see historical levels of consumer debts and corporate debts. We see massive store closures (more than 7100 closures announced so far this year), a debilitating stop on shipping and freight, a lowest point in the global manufacturing PMI, the weakest PMI since the US manufacturing industry since 2009 and an inverse in the government bond chart, etc.

With this we have actually reached the point that I have predicted here on the site for so long: the planned crisis, in which the blame for the loss will be put in the shoes of the controlled opposition: the self-created right-wing nationalist movements that the ' own country first 'attitude. This process has been deliberately planned for a very long time, with Trump and Brexit currents coming to power in the US and UK respectively, and then the economy crashing, so that nationalism, protectionism and (controlled opposition) could be definitively dealt with ) 'conspiracy thoughts' and the rest of the population will from now on look at this group as the NSB members of the '40 /' 45 years. The road is therefore completely open to new order from the expected (and long-planned) chaos. It is the ancient Roman game of 'Ordo ab Chao' (creating order out of chaos) that we see unfold before our eyes.

If you want to build a world government, you have to be aware of criticism in society. What could be better than to get that critical group to gain power and grow in support, putting the critical sound as clearly as possible on the retina of the entire population, and then plunging the world into economic disaster and thus definitively ending to be calculated with that critical group? That is the game of controlled opposition.

It is time for you to see that you are in a Trumanshow reality; that the world is run according to a clear script and that the small group at the top is driven to send this script a certain direction. The simple fact that I have been reading and predicting this process here on the site for a long time might be an indication that no myths are being proclaimed here. Every development that you can follow almost every day provides proof of this. The only question is how much it takes to wake you up before you see through the whole.

You can find everything about this false reality and the script in this article and the linked articles. Take the trouble and study it thoroughly.

Source link listings: zerohedge.com, theguardian.com, the guardian.com

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  1. Martin Vrijland wrote:

    In the meantime, just pumping 13 billion into new technology ... so money was there

    https://fd.nl/beurs/1308096/miljarden-in-technologie-pompen-zal-deutsche-niet-helpen#

    • Martin Vrijland wrote:

      In the above article I am talking about tens of millions of wage costs. Admittedly, if you fire 18k people and you estimate that they all cost roughly an average of one ton per year, that is 1.8 billion on an annual basis. And if you eventually fire more people, it will go down well. However, you can ask yourself what those people have been doing all this time. Apparently they are so miserable that it does not adversely affect the bank's day-to-day operations, otherwise one would have to wait to be able to slowly convert the tasks into automated processes, but no… one can start from one day to the next and therefore apparently no adverse effect whatsoever. Have those people been picking their nose all the time?

  2. Sun wrote:

    Cynically, but the sooner everything collapses, the greater the 'chance' that the slaves will finally play against the boys of the script. The slaves are still having a good time and are waiting for everything.

  3. Sun wrote:

    That chance is 0%.

  4. SalmonInClick wrote:

    We predicted years ago that it would most likely start with DB, a preconceived plan from the central planners. Nothing new under the sun, watch it from a distance as the house of cards is going to thunder. An economy built on debt (including mortgage / mortgage / stranglehold) is doomed to fail.

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