Stalemate, Not Checkmate

Standard Chartered To Replace "Lower-Value Human Capital" With AI As Meta Layoff D-Day Nears The white-collar job-loss apocalypse, accelerated by AI, is increasingly concentrated in repetitive, data-intensive, and digitally native roles, with tech firms announcing layoffs one after another. While 'D-Day' for Meta layoffs is Wednesday morning, the London-headquartered international bank Standard Chartered announced on Tuesday plans to cut 15% of its corporate roles (or about 7800 jobs) by 2030 as part of a broader efficiency push amid the adoption of AI. STAN also raised its profitability targets, aiming for a 15%...

Freddie Mac: Multifamily Delinquency Rate Rises To Multi-Decade High Authored by Ryan McMaken via The Mises Institute, Fannie Mae and Freddie Mac (also known as "GSEs") have released their August reports on their mortgage portfolios and mortgage delinquencies. Both are reporting that serious delinquencies in multifamily are rising to multiyear highs. Freddie Mac, in particular, shows delinquency rates at the highest level in more than twenty years. (These numbers reflect the condition of mortgages in each agency's portfolio, which are a major part of the overall mortgage market. Fannie and Freddie have...