Samsung expected to report 80% profit plunge as losses mount at chip business::The semiconductor business — typically Samsung’s cash cow — is likely to see continued pressure as memory prices and demand for end products remain low.
But still a profit. Just not as much of profit as last year.
We are making money, but not as much money as I want. SMITHERS! Fire people randomly until I feel better about only making a few billion, instead of a hundred billion.
The entire economy is about companies making higher and higher profits, and if they don’t, economists worry it’s a stagnation. Lol. We really are quite fucked.
I agree that the hamster wheel of infinitely increasing profits is bad. But even in a better world where companies weren’t expected to report record profits every single quarter, an 80% drop would still be rather alarming.
It’s almost like the system they judge by doesn’t actually work at scale. 🤔
What a great time for governments to be pumping taxpayer money into new chip factories!
Did Samsung even get any of that money? You can shit on corporate subsidies all you want but these are good paying jobs for the folks who work at these plants here in the US.
Are you as upset about farm subsidies? Honest question.
Of course. For one thing, they are a blight on third world countries, who are often dependent on agriculture. Rich countries subsidizing their own farmers directly harms economic development in poorer countries that have fewer resources with which to respond. The subsidies also lead to overproduction in rich countries, and thus needless environmental destruction.
