Morning Folks!!
The biggest shift in Internet use in nearly 2 decades has occurred in 2018. The shift may be invisible to the masses but they should be vividly clear if you make your living online.
As I stated in an earlier post this month, "Social is no longer Social, it's Dangerous." So the major cratering that is occurring started there. That's ground zero for this Internet Earthquake we ARE experiencing.
General Electric, once one of the world's largest, richest and most distinguished companies is in trouble. They are selling off assets to survive.
We all know the story with Sears. Everyday for them is "Black Friday" because they are selling everything including their land and their gondolas. Bye Bye Sears.
This year there is no Toy's R Us.
The largest amount of retail closings will start happening at the end of December right into January.
And retail is just one sector. Manufacturing could wobble depending on the sector.
But I have not even reached the real problems. As a trained eye could see, Facebook is now down about 40% from their high and still going down. Same with Twitter and many others. Is it possible their best days are behind them? YES IT IS! How is MySpace doing these days?
The bean counters have been so geared to growth that they ruined many of their own products. They tarnished brands. Remember when Apple had GREAT customer service? That was what propelled them along with a great product. Now, Apple has among the worst Customer Service. Rivals other large firms in a race to the bottom.
AT&T screwed up Directv. Directv used to have great customer service. Now they don't. I am sure each and every one of you have you own stories of companies that you used to be a fan of but now, not so much.
Sony was baloney for 20 years now. But Apple may catch up if their current trend continues.
Online companies taking political stances are playing with fire regardless of the stance or the direction. Those idiot bean counters may not see it in the numbers today or last quarter, they sure as hell will see it in 2019 and beyond.
The stock market has taken a severe hit. Will this be the year the Grinch Stole Christmas? For some it will. Amazon and Google and many others have both sides of the political spectrum angered. That will have a financial impact of some sort. Stay tuned.
Just remember that just 12 months ago Bitcoin was the hottest Christmas Gift since the Pet Rock. Trading at nearly $20k. I stated many times I was a buyer UP TO $5,000. It is trading as low as $4300 in the past 24 hours. A lot can change in a very SHORT 12 months.
Ugly has not even started. There is a shift in progress and some fault lines are going to be exposed. Some may be very surprising. Fasten your seat belts.
The Internet was the last big thing that saved the financial universe. What's the next one?
Rick Schwartz
PS: Always remember that during turbulent times, some of the best opportunities present themselves.
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