The ‘Gig’ Economy Gets 5,300 New Employees ...The Global ‘Even Steven’ Economy

Whirlwind week in New York and I am just finally catching my breath and organizing my thoughts.

If you read news you can only shake your head at the sickening corruption and negligence in our systems.

Today, Wells Fargo fired a full Twitter (actually a Twitter and a half) and the stock rose. The ‘corruption godfather’ (Goldman Sachs) rose in sympathy of course. They rise because we already saved them in 2008. Wells Fargo paid $180 million which will disappear into the black hole of the government while 5,300 people get pushed into the gig economy to drive me around the corner. I call this the ‘even steven’ economy.

The CEO of Wells Fargo will likely get a raise.

I doubt we see a statement from Warren Buffett who owns 9 percent of Wells Fargo and says this matters most:

Meanwhile, Twitter has 3,700 employees, no growth and no profitability and has to hire 140 people to see if job cuts should happen. Makes sense…in Haiti.

The markets don’t care.

Your guess as to why is as good as mine.

It’s not just corruption, poor leadership and greed at home that is being shrugged off. Russia is at prices not seen since 2007 and China is breaking out.

The markets are truly mysterious.

I will be on Bloomberg TV tomorrow afternoon at 4 pm Eastern and they will let me jabber about all this in more detail which is always fun.