Discover more from Current Revolt
Recession Finally Starting to Hit?
Same game, different decade
Due to bad leadership and policy by President Brandon, Gov. Abbot, and the Federal Reserve, 428 Texans are out of a job, and it might be just the beginning.
The Plano-based mortgage lender that laid off 428 employees last week has filed for bankruptcy protection, citing pressures in the mortgage lending industry due to higher interest rates and housing affordability.
First Guaranty Mortgage Corp. filed for Chapter 11 bankruptcy protection in the District of Delaware, citing significant operating losses and cash flow challenges due to the difficult market conditions, the company said Thursday.
The laptop class is about to get laid off and feel the pain working-class Americans have felt for decades while their leaders moved their jobs oversees and imported foreigners to do their jobs for less money.
If our leaders had done THEIR jobs, these banks and mortgage companies would have learned their lesson after the 2008 crisis, primarily by ceasing to exist, and new companies, better equipped to manage the risks, would have filled the market (this is how a genuine free market would work btw).
Instead, Congress bailed the banks out, and the Federal Reserve began printing money incessantly, causing inflation. If that wasn’t enough, Gov. Abbott closed everyone’s business, handed out COVID cash to everyone, and gave enormous PPP loans to undeserving companies.
When you mess with the market this much, you’re guaranteeing a recession.
To top it off, we have a fake war with Russia, harming real Texans.
We all have front-row seats for The Great Recession II.
There is good news, many overpaid women in the workplace whose main job is to plan HR pizza parties and send email reminders for said pizza party will be fired first.
They won’t be able to have their abortions paid for by satanic corporations and many of them will find the happiness that eluded them in the corporate hell-scape was waiting for them in Motherhood all along.
Current Revolt is a reader-supported publication. To receive new posts and support our work, consider becoming a free or paid subscriber.