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In this short clip, Patrick Bet-David, Tom Ellsworth, Adam Sosnick and Vincent Oshana react to potential 2 million job losses in 2023.
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Here's a story that Tom stamma breaks For recession in 2023 has job losses top Two million City says this is a fox Business Story the U.S will likely Tumble into a mild recession next year And sees unemployment top five percent According to a new report from City uh Global wealth Investments to group set And its latest Outlook report published This week that the economy could lose an Estimated 2 million jobs in 2023 as a Jobless rate climbs to 5.25 percent we Believe that the Fed rate hikes and Shrinking Bond portfolio have been Stringent enough to cause an economic Contraction within 2023 and If the Fed Does not pause rate hikes until it sees Contraction a deeper recession May ensue The Federal Reserve has been raising Interest rates at the most aggressive Pace since 1980s in a bid to fight Inflation so this is coming unemployment Is coming next even Jerome Powell Yesterday when he was given a speech I Don't know if you guys watch a speech or Not Uh he was even talking about how they're Expecting to to see unemployment crack 4.6 next year at the Goldman Sachs event When I asked David Solomon their number They're looking at is 4.3 4.4 I think It's going to be about five percent I Think it's going to be about five Percent in 2023. meaning if you like
Your job and you're doing good at your Job and you want to keep your job do Better step up yes Step It Up Everybody Stepping out can I tell you something I Know you won't hear me saying this you Remember when last year like hey I don't Care go take the bigger race elsewhere All this other stuff here's what I will Say if you during covet during all this Mess you were loyal to your employer you Can go ask for a raise If you were loyal you didn't play Gamesmanship you didn't bully the Employer you kept your head down you did Your part you've earned the right to go Ask because that is something that Companies value a lot and by the way Companies if you now obviously you can't Go out there and say give me freaking You know whatever percent raise I'm not Talking about that don't go so I think I Deserve this rates but you've earned the Right to ask for a raise and if Companies who bitched about the fact That people were bullying you by Shopping the salary if you don't take Care of your employees who are loyal to You you're just as guilty as those who Are bullying others because this season Is the season to reward loyalty because There were a lot of people that were Loyal this is the time to reward loyalty Now I'm talking I'm talking if people Were with you from the beginning of 2020
To today No bitching and they saw people going And going and you know back and forth All this stuff those people deserve a Raise every single one of them that went Above and beyond I'm talking about guys That are doing their part everybody Deserves a you know three percent raise Or whatever that is that people are Getting but I'm talking guys that truly Went above and beyond while everybody Else was shopping left and right those Guys deserve some kind of a raise okay So that's also the difference behind it Right employers can't just sit there and Say well you know you know the grass is Not going on you're right it's not Because the grass is only greener on Where you water the grass the grass Isn't green on we don't water it doesn't Matter if it's a relationship gym Finance business career all that stuff But uh loyalty and by the way did you See what Goldman Sachs announced David Solomon announced this week the biggest Um Bonus reduction in the history of Goldman Sachs they're paying the least Amount of bonus can you zoom in if you Type in David Solomon and bonuses uh David Solomon chief executive Goldman Sachs in New York on Tuesday December 6th one you have to go paid out The largest bonus on Wall Street the
Investment banking giant is considering Slashing Banker bonuses by around 40 Percent the largest cut to payouts since 2008 good for him he's doing the right Thing well he doesn't have the profits To do it yeah what he's saying is logic Hey you you are going to get let's say You were going to get a um Uh 30 bonus on your salary so in him Saying he's slicing it by 40 that means you're only going to get An 18 bonus because it's tied to the Profit of the company so 30 per 40 of 30 Would be 12 12 goes away so I still get A bonus I'm getting 18 bonus not 40 Because the profitability of the company Wasn't there he's making a straight up Move you mean 18 not 30. that's right Yeah I get 18 not 30 because 40 goes Away can I add to what you were saying I Think it's so important what you were Saying about loyalty and stick to itness Like you might be like the last couple Years have been very difficult whether You're an employee or an employer okay And you use the relationship analogy I Did so a segment on my show this ozcast Yesterday about how a lot of uh men and Women but in this particular case women Um are developing shiny object syndrome Because of Uh social media and basically you know Like the famous phrase comparison is the Thief of Joy what happens is this this
Woman gave the analogy she's like I have This guy he's checks all my boxes he's Amazing but then I go on to social media And I see so many other options out There and oh maybe this guy or maybe That guy to use that analogy with your Job it's like okay maybe you like your Job maybe you're you know whether it's a Job or relationship there's not all good Days and there's not all bad days we all Know that but to use the relationship Analogy She was like I don't know maybe there's A different guy out there but she just Said this guy checked off he's like your Ideal guy but you're still sort of Sifting through social media to see what Else is out there guys are you know Guilty of this too but it's it's to your Credit if you stayed loyal in your job In your relationship and you went Through it now here's the word reward Mechanism don't get me wrong there's a Lot of abusive environments there's a Lot of environments that's just purely Abuse and and and and this this a Military at the time of my life on my Unit I I see positive in almost Everything wherever I work like I I Loved Haagen-Dazs I love Bob's Big Boy Burger I love my jobs because I love People I love people getting to know People's stories and you know yesterday I learned uh we had uh uh a F-15 pilot
Here yesterday right from the Air Force Who runs a consulting firm I heard him Speak 17 years ago so we're having a Conversation together he was here Yesterday and he's talking to Vinnie and They're talking and then Vinnie's Telling them who he is and then the Fighter pack did you know he was the Airmen of the year for the year for the Entire Air Force I said wait what He says Vinny's like yeah I was the Airman a deer I said how big of a deal He was what was the Airman of the year For the entire Air Force and then this Guy don't touch that Tom when you do That it's making static like move it Like this okay you're touching it like With the with the yeah to move it like That you're moving it with a wire so Vinnie was the Airman of the year is What he was thinking about think about Out of how many how many total soldiers In the Air Force I have no idea but This is just for enlisted module and This is the f90 Airmen And mind you this guy what was the guy's Name that guy was awesome Meeting with him tonight 92 000. bro that's Vinnie look at me the Airman of the Year Man the year change the picture Rob Here's the point but you know what the Point you know what the problem get it Off you know what the point I'm trying
To make here's here's the point some Environment some environments are bad Fair enough but you can have any job and You can have a positive gratitude you're Going to do good and no matter whatever Environment you're in right but those That are going above and beyond and You're working for a company that's got A real Vision that's working to Developing themselves you can have a Career there listen man be patient Eventually good things are going to Happen to you it's just what's happened Here very simple so what all the Craziness taking place I believe future Looks right if you believe future looks Bright get your latest Future looks Bright hat of valuetainment it says Future looks bright here future looks Bright here we got them in white we got Them in Black we got them in red are Black on black sold out these are about To sell out if you haven't ordered one Yet we had a person in Michigan but one Then he bought three then when those Three people were in the office they had To order 58 of them because people Wanted the future looks bright hat Especially during times like this Because ain't nobody's saying future Looks spread toward your future looks Bright hat click over here and to watch The entire podcast click here take care Everybody
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