Author Topic: Are we in the midst of a "financial crisis"?  (Read 408 times)

Offline dealfinder11

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Are we in the midst of a "financial crisis"?
« on: December 04, 2023, 03:02:57 PM »
Spending nationally is down considerably in the last quarter. Many local businesses (retail and food establishments) have been talking about this since October. Many speculated that this was the community "cutting back" due to the Simchas Torah massacre. However, it seems abundantly clear that this is in fact part of a national trend.

I know anecdotally of large organizations who are deeply concerned (choosing my words carefully here) and are already scrambling to replace some of the income they have to come to rely upon, mostly from donors who have careers in real estate.

One last note. During the Motzei shabbos keynote at the Agudah Convention, I heard R' Menashe Miller refer to the "current financial crisis" which is why I chose that terminology.
« Last Edit: December 04, 2023, 03:12:58 PM by dealfinder11 »

Offline yelped

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Re: Are we in the midst of a "financial crisis"?
« Reply #1 on: December 04, 2023, 03:16:19 PM »
Talk to DW... ;)

Online jj1000

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Re: Are we in the midst of a "financial crisis"?
« Reply #2 on: December 04, 2023, 03:49:26 PM »
US tzedakas are of course going to hurt in a post simchat torah reality.

People shifted tzedaka to Israel and it has a trickle-down effect.

See my 5 step program to your left <--

(Real signature under my location)

Offline jye

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Re: Are we in the midst of a "financial crisis"?
« Reply #3 on: December 04, 2023, 03:55:31 PM »
I know of one company in the construction business planning on shutting down for 6 weeks or more and having everyone go on unemployment rather than paying crews to sit idle. Anecdotally many businesses are slowing or struggling with financing.

The risk of a real crisis in the frum world would probably be investors in CRE and some in healthcare coming to a realization that many of their highly leveraged positions tat they piled into in the last 3 or 4 years are down 20% plus, making their share worth close to zero. The frum worlds eggs are all in very few baskets and the fallout could be severe. Hopefully rates come down in time to prevent a worst case scenario.