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There Will Be Lots More Apple Layoffs (Already Years in the Making)

posted by Roy Schestowitz on Feb 29, 2024

The corporate media still tries to shape the narrative to prevent panic or delay market hysteria

US debt nearing 100 trillion dollars

THE recent Daily Links (and more to come) cover Apple layoffs. The media is wording articles about it in a very misleading way; it's meant to sound like Apple just had some plan and never got around to implementing it, but nothing could be further from the truth. Many people will lose their job and it's part of a national if not international trend.

The US is relatively unique in this regard (Japan also; its economy is struggling despite very high work participation rates and notoriously long working hours). The total US debt is nearing 100 trillion dollars (includes private debt) and the national debt grows at a pace of about 200 billion dollars per month (based on recent months). The interest to be paid on the debt means the rich will get richer (they're among the lenders) and total GDP - however fictional - does not cover the deficit. It's another Japan, except one where only 132.55 million (out of 339,996,563) are full-time employees. Now, going back to Apple...

The corporate ("mainstream" or "mass") media is acting like Apple's latest rounds of mass layoffs are a surprise when it has so much debt to pay (plus interest on the debt) - debt that it barely had a decade ago. Apple's mass layoffs actually began years ago (mostly in the stores), but the media helped cover that up or belittle these.

Is the true role of journalism to inform the public? Or "ass-covering"?

Apple layoffs aren't a new thing. They've been happening for a while now. The media's failure to properly cover that says more about the state of the media than about Apple.

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