Drive up the company stock by doing layoffs then when investors get spooked by your now understaffed, deeply unstable company and they flee try to fix it with more layoffs!
A plan that could only come from the most brilliant minds!
@futurebird the only company that I know that are doing layoffs is Intel, but they are also canceling some of their more speculative investments. What's the point in keeping around people working on projects you have decided you can't afford?
There are rumblings. Everyone is over-reacting to literally just one day of "number not go up"
This is making those people say that "capitalism requires a madness that is infinite growth" seem...kind of reasonable.
@futurebird sure, but it's the media storm that's weird. The market does this kinda thing every quarter, it will back to normal in a couple of weeks. I also remember Bungie, they were literally lying about their prospect and pissed the crap out of Sony.
On the topic of growth it's made up, wealth is a legal fiction. By definition economic activity leads to more wealth, other wise it's not wealth. Wealth is the product of humans interacting.
@ekg @futurebird
I don't think the media storm is that weird (inexplicable, I mean) in this case.
They need to constantly inject drama, especially in the political season. And now that inflation is old news, a stock market drop helps spice things up and sell the idea that "Biden’s economy" is not the essence of perfection (please ignore the fact things fell much more significantly under Trump's presidency).
Any controversy or bad news they can drum up to get more clicks.
@futurebird @PTR_K stocks are like groceries, always someone looking for a deal.
@futurebird I have about half my savings in stocks, whenever the market is like this I take a pause in my trading. Otherwise I am a fairly active trader, but their exist no pattern to panic.
@ekg @PTR_K
It's like watching six year olds playing soccer.