Yellow, which received a pandemic loan, is winding down operations ahead of an expected bankruptcy filing. The closure of the company would mean the loss of about 30,000 jobs.
It doesn’t require a full scale Great Depression style meltdown, the ‘downturn’ of 2008 caused significant difficult for many, it simply requires a sharp enough retraction of Investment Capital. That retraction is already in progress as the retirement rate for Boomers escalates and more of them begin selling their stocks and bonds; either directly or through their retirement instruments like 401ks and Pensions.
I’m not a doomer but I am fairly convinced that 401ks are a timebomb.
It doesn’t require a full scale Great Depression style meltdown, the ‘downturn’ of 2008 caused significant difficult for many, it simply requires a sharp enough retraction of Investment Capital. That retraction is already in progress as the retirement rate for Boomers escalates and more of them begin selling their stocks and bonds; either directly or through their retirement instruments like 401ks and Pensions.
I’m not a doomer but I am fairly convinced that 401ks are a timebomb.