Is the end nigh?

So there's this - Samsung profits fall 95% :


Samsung Electronics flagged a gradual recovery for chips in the second half of the year after its semiconductor business reported a record loss on Thursday, driven by weak demand for tech devices.​
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A global downturn in semiconductor purchases amid an economic slowdown and weak customer spending sent chip prices plummeting in the first quarter, triggering production cuts across the sector.​
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Samsung (SSNLF) said its chip business would focus on high-capacity server and mobile products “based on expectations of a gradual market recovery and a rebound in global demand” in the second half.​
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And yet prices on video cards, memory, SSL drives, etc. are still sky high. This is proof positive that it was never about a chip shortage. It was all about greed. They've priced themselves out of sales and now they're paying the price for it.
 
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Wise move.

And it's coming. McCarthy has painted himself into a corner. He's desperately trying to blame Biden for it, but it's not sticking.

He set this in motion when he gave up all his real power to the lunatic fringe to become speaker to begin with.
 
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So here we go again:

www.politico.com

FDIC, Wall Street scramble to pull together sale of First Republic Bank

Formal bids for First Republic — which has seen heavy deposit outflows and suffered massive share price declines in recent weeks — are due to the FDIC by the middle of the day on Sunday.
www.politico.com www.politico.com

This bank just received a 30 billion dollar bailout a few weeks ago.

Banks have become over leveraged again, just like 2008, and one by one they're beginning to fail.
 
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Zeedox said:
The pandemic taught a lot of people what they really need to live and what was superfluous.
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I don't think that's the case at all.

Everybody was living large on free money during the pandemic and went out and bought new cars that were overpriced, new houses that were overpriced, racked up credit card debt buying new furniture, TV's and such that were overpriced, and now they can't afford it anymore.

There is no eviction protection anymore. There is no rent free anymore. There is no big child credit anymore. There is no covid relief anymore. All of that has ended and now all the bills have come due.

So all those racked up charges aren't being paid. Everybody is starting to default on pretty much everything.

It's the same exact thing that happened before. The only reason people are buying less now is because they can't buy any more. They've maxed out everything and can't get any more credit.
 
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