A few blogs back I attributed a large part of the current employment dump in high-tech to widespread understanding, from Elon Musk’s example, that more than half of tech employees are a waste. I was wrong. Musk found a commercial truth but his fellow tech managers are not smart enough to appreciate his discovery.
What is going on, and has been for half a year, is the consequence of the most ignorant idiotic government foreign action I’ve ever seen. The Biden government directed American companies to stop doing business in Russia. Many complied. Far too many. The U.S. government has no such power and even one company could have held up such a directive in courts for many years.
So now those American tech giants who pulled out of Russia have been slaughtered. Microsoft, Adobe, Salesforce and a dozen others.
Every business man on the planet looked at the American high-tech obsequiousness to a senile president and said ‘Am I going to buy high-tech software from a company that will not service me in the future if the American government is hostile to my government?’ The answer from any intelligent businessman anywhere in the world was ‘Hell no’. Screw American high-tech, I’ll find a company somewhere else.
The American Democrat administration didn’t just do this stupid thing. It banned Russia from using the global banking system SWIFT controlled by the U.S. which makes the dollar the universal planetary currency.
Now, the 100 nations on the planet, who are anti-American, are looking for ways to make the Yuan a major trading currency. They will succeed and it will raise interest rates in the U.S., reduce American exports dramatically and cause a recession. Maybe a long one. Good going, you Democrat anti-commerce idiots.