In this video repost from the Epic Eonomist I share the valuable information with regards to the systemic risk associated with DB Deutsche Bank, the global economy, and the next recession. Throw in some light coverage from the bobble head CJB’s, a little humor, and you got yourself another banger from BK! Hope you enjoy today’s video!

#bitcoin #btc #crypto From yesterday Deutsche Bank, which is a German multinational bank and the world’s 15th largest bank My total assets has been on the process of a massive overhaul of its business. The bank has cut off 18,000 jobs globally in this process as part of an eight point three billion dollar overhaul and else one day earlier the bank’s workforce is said to be reduced for 18,000 to around 74 thousand employees by 2022 as deutsche bank scraps its global equities and trading operations This has become another big head to the shrinking European finance industry and for the deutsche workers They now find themselves chasing for jobs in a market where there’s an even more limited number of positions Toward the day’s end the majority of the murmurs and the press about Deutsche Bank CEO Christian Savings broad restructuring, barely Did it justice rather than moving gracefully in the layoff process the Bank began grouping many employees into gatherings with HR First in its workplaces in Asia Hong Kong Sydney at that point London, which got hit especially hard then New York City by certain accounts it was the biggest mass broker terminating since the breakdown the Lehman which left almost 30,000 workers in New York City jobless, even though the American economy is doing similarly Well compared to the European Economy over the world laid off deutsche bank employees may battle they look for some employment again in their equivalent field according to what bloomberg reported automation and cuts have left most investment banks much more slender than they were before the 2008 economic crisis the contracting flexible Investments industry which once poached employees from the tea bees equities business isn’t much of assistance a few workers will unavoidably Discover their approach to ever call Blackstone boutique venture banks and private equities investments or trading firms are two of the business’s top development zones, or Family work places which on account of the endless rally in resource costs and the arrival of Bitcoin Which is also booming some proof has surfaced to propose that numerous Youthful investors are as of now hoping to leap For the highest paid employees being let go the week many will need to get used to lower pain some 1100 material risk takers have been let go on average They aren’t 1.25 million dollars almost 60% of that in cash A lot of these people are gonna have to get used to less compensation said Richard Lipstein managing director at recruiting firm Gilbert tweet International in a telephone interview and quote the percentage of compensation in cash is lower than it used to be Unquote many will need to leave the street and possibly whatever city in which they’re currently living to find work elsewhere Michael Nelson a senior recruiter at quest group said a lot of the people coming out of T V are going to be very challenged to find jobs just because of the sheer change in the equity business you continue when you’re Dispersing that many people globally some of those people might have to leave the business But at least Goldman Sachs is willing to hire some of the Deutsche Bank employees While a VP G’s piece on the layoffs focused on the trouble these employees may face in the process of looking for new jobs Reuters portrayed the scene outside these workplaces where one insider had cautioned about layman style scenes indeed Some just fired employees could be seen pondering outside taking photographs with colleagues and boarding taxis Probably they go to a closest part at grab a drink Fired staff leaving the Hong Kong Deutsche Bank offices was seen holding envelopes with a bank’s logo Three workers snapped the photo alongside a Deutsche Bank sign outside embraced after that hailed a taxi One equity trader told us they give you this packet and you’re out the building The equities market is not that great. So I may not find a similar job, but I have to deal with it said another After a few weeks of looming fear employees were called into assembly rooms Cafeteras workplaces give it an envelope with details of their redundancy package before they were sent out Reuters columnist Pursued some of the employees at Deutsche Bank’s London office to the closest bar few staff wanted to speak outside the bank’s London office But trade was picking up at the nearby balls brothers pub Lunch time a man who just lost his job in equity sales said I got laid off where else would I go? job cuts were expansive in the bank’s main support centers where the mood was quote pretty hopeless unquote the Deutsche Bank employee in Bengaluru told Reuters that he and several colleagues were told first thing that their jobs were going He said we were informed that our jobs have become redundant and handed over our letters and given approximately a month’s salary The mood is pretty hopeless right now Especially among people who are single earners or have big financial burdens such as loans to pay He added this great restructuring plan includes closing down deutsches total loss making global equities business Eliminating 18,000 positions and that’s approximately one-fifth of the bank’s absolute headcount and hiving off 288 billion euro That’s three hundred and twenty-two billion dollars of loss making assets into a bank for sale or run off The objective of the restructuring is to detach DB far from its troubled Institutional business and more toward business banking and resource management as a JP Morgan analyst pointed out questions linger over Deutsche Bank’s ability to grow its Ability to operate a corporate franchise without a European equity business Investors were overwhelmed and this action resulted in a drop of a bank share after an initial 4% gain on Monday Shutting the bank’s European equity business as an extreme action That was not expected by anyone and most of what leaked to the media Appeared to propose that the cuts would concentrate on its remote business especially the troubled US equities in any case without the equities business a few customers may lose confidence in Deutsche Bank’s capacity to win business from big enterprises on the other hand There’s likewise the sheer tremendousness of what the bank is attempting to do significantly develop incomes while cutting an enormous lump of its staff And shutting down whole businesses some of which are synergistic with different businesses that will continue to be operational The financial system is in trouble. And this is just one sign of what’s going on this happened in previous financial problems in the 1930s or the 1960s or the 1990s Roger said in a phone interview with arty He explained that central banks around the globe prove interest rates to crazy levels now He said we have to pay the price for that this led to what we think is a stable and sound Bank start making Speculative loans and then what used to be strong banks get in trouble The challenges facing Deutsche Bank has not been that the bank will not survive according to Rogers however The bank will never be the same and this is serious trouble for the lender as well as the entire financial system the investor believes Rogers offered a reminder that some stable banks went bust when nobody expected it as was the case Ehrlichman brothers in 2008 or with another all bank in UK British Northern Rock and it’s happening again if you go to Scandinavia you see some of those banks that have been around for years They were in trouble now. This is nothing more than a sign of the times we’re gonna have a lot of problems down the road the investor said as Danielle proof Basha of UBS explained the chances of success of here to be low cutting expenses by one quarter and increasing revenue by 10 percent over four years in the present market condition while Experiencing massive restructuring could be Judah’s try Traditionally when staple banks like Deutsche Bank find themselves in this kind of trouble It’s always a signal that the world financial system is about a face of very serious problem down the road legendary investor Jim Rogers told our team however According to Rogers Deutsche Bank is unlikely to collapse due to multiple warnings and enormous government efforts to support it Rodgers went on to explain that collapses occur unexpectedly And it’s when the global markets can crash if Deutsche Bank were to collapse It would be a surprise it would cause the global market to start to decline He said adding that it would create a snowball that would see other major banks to follow the same path Boss You

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