Bad Economic Predictions

For stuff that is general.
TheCatt
Site Admin
Posts: 53725
Joined: Thu May 20, 2004 11:15 pm
Location: Cary, NC

Bad Economic Predictions

Post by TheCatt »

Leisher wrote: Tue Dec 07, 2021 2:51 pm Startup valued at $7B, about to IPO, just received $750M in cash, and has "about $1B on the balance sheet" lays off 900 workers via Zoom.

When the worker revolution begins, will anyone be surprised?
I dunno. Why were they laid off? Did they suck? Was their business unit failing?

The dude did a terrible job by making it about himself, but still... people get laid off. That's capitalism.
It's not me, it's someone else.
Leisher
Site Admin
Posts: 65253
Joined: Thu May 20, 2004 9:17 pm
Contact:

Bad Economic Predictions

Post by Leisher »

TheCatt wrote: Tue Dec 07, 2021 3:35 pm
Leisher wrote: Tue Dec 07, 2021 2:51 pm Startup valued at $7B, about to IPO, just received $750M in cash, and has "about $1B on the balance sheet" lays off 900 workers via Zoom.

When the worker revolution begins, will anyone be surprised?
I dunno. Why were they laid off? Did they suck? Was their business unit failing?

The dude did a terrible job by making it about himself, but still... people get laid off. That's capitalism.
First of all, the dude is an absolute cunt. That's indisputable.

As for the rest, I had the same questions. I'm wondering if it was done for the IPO? Based on the specific way he phrased it, I'd say yes. I don't know how that would help, but I know jettisoning employees can help make bottom lines look better for potential sale, so I assume the same thing for an IPO?

However, if it was a failing business unit, then I would fully understand the layoffs and would be more pissed at the MSM for not reporting that critical aspect of the layoffs.

I've very pro-capitalism, but I think capitalism involves acting ethically and legally. I think it should also involve concern over the overall economy/health of the communities and countries it operates within. Call me crazy, but it's called capitalism, not "selfish fucks squeeze every last dime out of a company and who gives a fuck what happens after we cash out-ism".

I don't give two fucks if a CEO makes 700% more than his mailroom workers. I do care if he or she makes that much and the mailroom workers need government programs to survive.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
Site Admin
Posts: 53725
Joined: Thu May 20, 2004 11:15 pm
Location: Cary, NC

Bad Economic Predictions

Post by TheCatt »

Leisher wrote: Tue Dec 07, 2021 4:13 pm As for the rest, I had the same questions. I'm wondering if it was done for the IPO? Based on the specific way he phrased it, I'd say yes. I don't know how that would help, but I know jettisoning employees can help make bottom lines look better for potential sale, so I assume the same thing for an IPO?
Better.com does mortgages. You know what's been really low for a long time and started climbing recently? Mortgage rates. I'm guessing refis are slowing down, and their business is not slowing down.
Leisher wrote: Tue Dec 07, 2021 4:13 pm Call me crazy, but it's called capitalism, not "selfish fucks squeeze every last dime out of a company and who gives a fuck what happens after we cash out-ism".
I think you need to read capitalism's origin story and one of its main concepts.
It's not me, it's someone else.
Leisher
Site Admin
Posts: 65253
Joined: Thu May 20, 2004 9:17 pm
Contact:

Bad Economic Predictions

Post by Leisher »

I'm quite familiar with Adam Smith, his invisible hand, and how it's fisting the country.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
Site Admin
Posts: 53725
Joined: Thu May 20, 2004 11:15 pm
Location: Cary, NC

Bad Economic Predictions

Post by TheCatt »

Leisher wrote: Tue Dec 07, 2021 9:21 pm I'm quite familiar with Adam Smith, his invisible hand, and how it's fisting the country.
I mean... are you? :P
It's not me, it's someone else.
Leisher
Site Admin
Posts: 65253
Joined: Thu May 20, 2004 9:17 pm
Contact:

Bad Economic Predictions

Post by Leisher »

We've gone into this discussion multiple times. I don't believe consumers have much influence anymore. The government and Wall St have the most influence on business, not in the that order. Throw in international politics, the MSM, and the absolutely unfair amount of information corporations (marketers) have to use against consumers.

Most Americans hate Congress, the last two presidents, cancel culture, woke bullshit, and so on, but here we are...
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
Site Admin
Posts: 53725
Joined: Thu May 20, 2004 11:15 pm
Location: Cary, NC

Bad Economic Predictions

Post by TheCatt »

Leisher wrote: Tue Dec 07, 2021 9:21 pm I'm quite familiar with Adam Smith, his invisible hand, and how it's fisting the country.
Maybe leisher's right
It's not me, it's someone else.
Leisher
Site Admin
Posts: 65253
Joined: Thu May 20, 2004 9:17 pm
Contact:

Bad Economic Predictions

Post by Leisher »

I have absolutely no idea how to fix it, but Wall St, while being a completely necessary tool/entity, has become the worst influence on business.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
GORDON
Site Admin
Posts: 54397
Joined: Sun Jun 06, 2004 10:43 pm
Location: DTManistan
Contact:

Bad Economic Predictions

Post by GORDON »

I think the only solution is government intervention.

However, it has to be complete. Obamacare forbade insurance companies from making excess profit, obstensibly to keep prices down. Instead, they hid profits by building building building buying hospitals, and growing that way. No one is saying "wow I love my low cost health insurance."

They're about to rename Toledo "Promedica City," for example.
"Be bold, and mighty forces will come to your aid."
Leisher
Site Admin
Posts: 65253
Joined: Thu May 20, 2004 9:17 pm
Contact:

Bad Economic Predictions

Post by Leisher »

“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
GORDON
Site Admin
Posts: 54397
Joined: Sun Jun 06, 2004 10:43 pm
Location: DTManistan
Contact:

Bad Economic Predictions

Post by GORDON »

If they keep cheap Chinese shit off of it, I'll look into it.
"Be bold, and mighty forces will come to your aid."
TheCatt
Site Admin
Posts: 53725
Joined: Thu May 20, 2004 11:15 pm
Location: Cary, NC

Bad Economic Predictions

Post by TheCatt »

TheCatt wrote: Fri Mar 20, 2020 8:34 am Burr does not, from what I've been reading.
Burr should have faced the death penalty, or at least forever in jail.

Meanwhile, people are FINALLY talking about limiting Congress' ability to trade stocks. No shit, dipsticks.
“I’m an advocate for banning stock trading by members of Congress who make policy, who have access to information and economic forecasting,” Ossoff said Tuesday during a Senate hearing.
Amen, Sen. Jon Ossoff, D-Ga..
It's not me, it's someone else.
Leisher
Site Admin
Posts: 65253
Joined: Thu May 20, 2004 9:17 pm
Contact:

Bad Economic Predictions

Post by Leisher »

TheCatt wrote: Wed Jan 12, 2022 10:57 am Burr should have faced the death penalty, or at least forever in jail.
You leave Bill Burr alone! He's a national treasure!
TheCatt wrote: Wed Jan 12, 2022 10:57 am Meanwhile, people are FINALLY talking about limiting Congress' ability to trade stocks.
A massive no brainer.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
GORDON
Site Admin
Posts: 54397
Joined: Sun Jun 06, 2004 10:43 pm
Location: DTManistan
Contact:

Bad Economic Predictions

Post by GORDON »

It's weird how the people who make laws won't make a law making it illegal for them to make money dishonestly.
"Be bold, and mighty forces will come to your aid."
TheCatt
Site Admin
Posts: 53725
Joined: Thu May 20, 2004 11:15 pm
Location: Cary, NC

Bad Economic Predictions

Post by TheCatt »

GORDON wrote: Wed Jan 12, 2022 1:27 pm It's weird how the people who make laws won't make a law making it illegal for them to make money dishonestly.
The WSJ recently ran an article about hundreds of cases where judges should have recused themselves due to large financial conflicts (owning AMZN stock and overseeing a case about Amazon, for instance). The judges were initially pretty dismissive and "we regulate ourselves." It gained some traction, but no actions so far.
It's not me, it's someone else.
GORDON
Site Admin
Posts: 54397
Joined: Sun Jun 06, 2004 10:43 pm
Location: DTManistan
Contact:

Bad Economic Predictions

Post by GORDON »

It's weird how judges who interpret the law won't interpret it in such a way that it hurts themselves financially.
"Be bold, and mighty forces will come to your aid."
Leisher
Site Admin
Posts: 65253
Joined: Thu May 20, 2004 9:17 pm
Contact:

Bad Economic Predictions

Post by Leisher »

GORDON wrote: Wed Jan 12, 2022 1:27 pm It's weird how the people who make laws won't make a law making it illegal for them to make money dishonestly.
This
GORDON wrote: Wed Jan 12, 2022 2:10 pm It's weird how judges who interpret the law won't interpret it in such a way that it hurts themselves financially.
And this.
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
TheCatt
Site Admin
Posts: 53725
Joined: Thu May 20, 2004 11:15 pm
Location: Cary, NC

Bad Economic Predictions

Post by TheCatt »

Leisher wrote: Wed Jan 12, 2022 2:56 pm
GORDON wrote: Wed Jan 12, 2022 1:27 pm It's weird how the people who make laws won't make a law making it illegal for them to make money dishonestly.
This
GORDON wrote: Wed Jan 12, 2022 2:10 pm It's weird how judges who interpret the law won't interpret it in such a way that it hurts themselves financially.
And this.
it’s almost like people can’t be trusted
It's not me, it's someone else.
GORDON
Site Admin
Posts: 54397
Joined: Sun Jun 06, 2004 10:43 pm
Location: DTManistan
Contact:

Bad Economic Predictions

Post by GORDON »

Just hope their gaze doesn't fall upon you.
"Be bold, and mighty forces will come to your aid."
Leisher
Site Admin
Posts: 65253
Joined: Thu May 20, 2004 9:17 pm
Contact:

Bad Economic Predictions

Post by Leisher »

Image
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
Post Reply