That Was So Brief: The Post-Pandemic Party

On one of those Bloomberg live broadcasts there was the consensus: CEOs are mired in uncetainty. That covers inflation, upward spiral in wages, and pricing that can't catch up with costs. Given where earnings are at, "it" is not at a disaster point. But no one is speculating about where that "it" could be leading to.

The Dow cratered today at 1,063.o9. Sure that may someday recover. But it will take time. And time is no longer on the side of those focused on retiring in 2022. Retirees might have to bounce back into the workforce. As for bitcoin, in the 30,000s, it isn't so  hot either. So much for those near retirement trying an end run to a bit more financial security. Today, documents The Wall Street Journal, bitcoin fell below 37,000.

The chill which has made its way through M&A and IPOs could mutate into a Polar Vortex. That could hit some law firms hard, especially if they don't have other kinds of lucrative practice specialities. Meanwhile, during 2021, 7,278 associates had been hired, compared to 2,772 in 2020. If there is even some dropoff in demand at law firms, too many of those associates could be classified as "surplus."

Big industries, ranging from tech to housing, could unravel. Some tech players have had losses. Already some mortgage firms have been laying off. Mortgage rates have hit 5.27%, the highest since 2020.

And, as student loan payments resume, those former students could find themselves in a terrible financial pickle.

The times are serious. Gravitas is the appropriate business persona.

Connect with Editor-in-Chief Jane Genova at janegenova374@gmail.com.  

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