Oh man guys, the amount of over-leveraged companies out there is insane. One of my competitors is going out of business with nearly 100mil in debt. They probably gross $25m per year. My suppliers tell me anytime a competitor asks to increase the payment terms. One large co. requires a net 1 year on the parts they order now. The system is cracking.
Yeah, we don't provide terms anymore. I tell my clients straight up we're not going to be left holding the bag when they go out of business, and when they start kicking and screaming I have a long list of former clients who already went out of business I can show them and fall back on.
If they don't have the cash on hand I advise them to get a loan. Just... from someone else, alright?
Sadly yeah. The system was originally designed so that if a few of the players were behaving badly the market could adjust and things would still move forward for people who were doing what they were supposed to. But several decades ago politics decided it should be working a hand in glove with The higher end of the market, And now the top players have been behaving badly for so long that the system can no longer support the weight of their terrible decisions.
9 Comments
UnderpantsWeevil@lemmy.world · 29 pts · 317d
-0.75% today
+22% since January
0_o7@lemmy.dbzer0.com · 2 pts · 316d
It do be like that when frauds run the country. You never know when that eventual crash gonna hit you like a freight train.
Or not.
Everyone in US should invest all their savings on stock markets. It's only going to go up and never stop.
Yeehaw baby! To the MOON!
Blackout@fedia.io · 16 pts · 317d
Oh man guys, the amount of over-leveraged companies out there is insane. One of my competitors is going out of business with nearly 100mil in debt. They probably gross $25m per year. My suppliers tell me anytime a competitor asks to increase the payment terms. One large co. requires a net 1 year on the parts they order now. The system is cracking.
dual_sport_dork@lemmy.world · 20 pts · 317d
Yeah, we don't provide terms anymore. I tell my clients straight up we're not going to be left holding the bag when they go out of business, and when they start kicking and screaming I have a long list of former clients who already went out of business I can show them and fall back on.
If they don't have the cash on hand I advise them to get a loan. Just... from someone else, alright?
MehBlah@lemmy.world · 8 pts · 317d
Morgan teflon Stanley is advising getting the fuck out of the US stock market.
pinheadednightmare@lemmy.world · 2 pts · 317d
That’s good advice
Lost_My_Mind@lemmy.world · 4 pts · 317d
I remember that game! GTA San Andreas, on PS2!
I remember it because I'm a millennial!
Also, shit's fucked financially.
MyDarkestTimeline01@ani.social · 3 pts · 317d
Sadly yeah. The system was originally designed so that if a few of the players were behaving badly the market could adjust and things would still move forward for people who were doing what they were supposed to. But several decades ago politics decided it should be working a hand in glove with The higher end of the market, And now the top players have been behaving badly for so long that the system can no longer support the weight of their terrible decisions.
SpicyLengthiness@lemmy.ca · 3 pts · 317d
They're already back up. Every slight fall is all doom and gloom, and then the next day it's reversed.