Contrary to what the the head of UN says in the article, this “dip” is almost certainly not short term.
I understand this scheme for short periods… but is there a limit to it? Also why help companies that manage themselves badly during the boom years not ready for the market to slow down?
Haunting-Prior-NaN on
/r/LateStageCapitalism
Mesapholis on
while one certainly can make the argument that watchmaking is part of the Swiss craftsmen heritage… subsidising an entire industry is surely not the way to go…
“Freier Markt regelt” is what capitalism wanted I thought? Luxury demand disappears in economic skinny times. Such is the life
pelfet on
this is what Kurzarbeit is, this is nothing new, has been used extensively on many sectors also during the covid time. The whole point is that they dont fire people and in return the state provides financial means.
Ahh yes, the ol’ pocketing winnings, socializing losses ideology. Man these bankers and watch makers must love socialism!
Javi_83 on
Some of these brands had no shames playing the greed game, pushing up their prices without bringing any innovation, willingly not keeping up with the demand so the grey market prices would also benefit them.
The climax of this greed from the Swatch group was maybe the Swatch x Omega collaboration where they knew the grey market was going bonkers but would never address it so they could maximise their profits on an overpriced quartz watch. They disappointed absolutely everyone with this but scalpers.
Now, with the Chinese economy suffering and many other countries too, this short-sighted strategy fails and the loyalty of the customers (that they sacrificed for profit) won’t save them, and they want the tax payers to step in.
They played the capitalism game, they lost.
Now, they want to socialize the losses ?
Respectfully fuck off.
chocapic34 on
“luxury watch demand disappears” while they are trying to fake shortage in their store
mantellaaurantiaca on
I hate the banking sector but there’s a good reason to save banks and that is contagion.
I love watches but there’s really no good economic reason to do this.
ketsa3 on
That’s one way to transform “chômage technique” into propaganda sensationalist clickbaity title. . .
9 Comments
What do you guys think? Is this fair?
Contrary to what the the head of UN says in the article, this “dip” is almost certainly not short term.
I understand this scheme for short periods… but is there a limit to it? Also why help companies that manage themselves badly during the boom years not ready for the market to slow down?
/r/LateStageCapitalism
while one certainly can make the argument that watchmaking is part of the Swiss craftsmen heritage… subsidising an entire industry is surely not the way to go…
“Freier Markt regelt” is what capitalism wanted I thought? Luxury demand disappears in economic skinny times. Such is the life
this is what Kurzarbeit is, this is nothing new, has been used extensively on many sectors also during the covid time. The whole point is that they dont fire people and in return the state provides financial means.
[https://www.ch.ch/en/work/working-hours/short-time-working](https://www.ch.ch/en/work/working-hours/short-time-working)
Ahh yes, the ol’ pocketing winnings, socializing losses ideology. Man these bankers and watch makers must love socialism!
Some of these brands had no shames playing the greed game, pushing up their prices without bringing any innovation, willingly not keeping up with the demand so the grey market prices would also benefit them.
The climax of this greed from the Swatch group was maybe the Swatch x Omega collaboration where they knew the grey market was going bonkers but would never address it so they could maximise their profits on an overpriced quartz watch. They disappointed absolutely everyone with this but scalpers.
Now, with the Chinese economy suffering and many other countries too, this short-sighted strategy fails and the loyalty of the customers (that they sacrificed for profit) won’t save them, and they want the tax payers to step in.
They played the capitalism game, they lost.
Now, they want to socialize the losses ?
Respectfully fuck off.
“luxury watch demand disappears” while they are trying to fake shortage in their store
I hate the banking sector but there’s a good reason to save banks and that is contagion.
I love watches but there’s really no good economic reason to do this.
That’s one way to transform “chômage technique” into propaganda sensationalist clickbaity title. . .