Larry Summers: "I don't think we can yet be confident that we're not going to see a real acceleration of inflation at some point down the road. If you look at wage inflation, it was faster for the month than for the quarter, faster for the quarter than for the year." 👀

#economastodon #inflation

Big tech's profits are supposed to be recession-proof and they have more cash than God, but:

➡️ Buybacks by the big 5 (AAPL, MSFT, GOOG, ORCL & META) fell to $41 bn last quarter, from a peak of $70 bn in Q4 2021

➡️Their revenues have grown less than GDP for 5 straight quarters

#economastodon

Empty office buildings in towns in the US. Workers stay away from the office

#economastodon

Turkish Lira vs US Dollar

Lira is rapidly becoming non-investment grade

#economastodon #TurkishLira