Samsung sees 95% drop in profits for a second consecutive quarter::Today, Samsung posted its Q2 2023 financial results. The report says Samsung’s profits have dropped considerably compared to last year.
Seeing that you’re from Canada, why is this so? Why is living in Canada so expensive relative to elsewhere?
The Economist explains it well in their article Australia and Canada are one economy—with one set of flaws. The competition regulators in both Australia and Canada aren’t doing their job, allowing oligopolies to form.
It’s a type of endemic corruption and Transparency International should start calling it out.
Government. Not liberals or conservatives, but the government as a whole. Canada has had many years where both liberal and conservatives were in charge, and nothing changed.
Canada doesn’t allow competition. We have 3 main internet providers, 3 main phone plan providers, like 2 grocery store chains, a couple airlines, etc.
When other companies attempt to come in to break up monopolies, they lobby, and get them shut down.
I mean where are we going to go? America isn’t really an alternative, as much as Americans think it is. Our healthcare, gun laws, etc are things that make Canada really good. We could move to some European or Scandinavian country, but that’s not as easy as it sounds, especially when you need to learn a new language, get accepted, move your entire life, and live in such a different culture.
So people in Canada just accept it. Maybe one day monopolies will be broken up, but there are no parties that are going to do that now. Left or right leaning.
Isn’t refusing to break up monopolies against the idea of capitalism and competition?
I haven’t even seen a North American have a kind of acceptable political understanding in the 2020s until now.
Government. Not liberals or conservatives, but the government as a whole. Canada has had many years where both liberal and conservatives were in charge, and nothing changed.
Huh, it’s almost as if they don’t encompass as much of the political spectrum as they’d like us to believe.
It’s big and cold. How much food do you think grows there? There’s actually plenty of cheap land but people like to live with other people.
If you don’t want modern conveniences, I bet it’s cheap. I bet you can live off of potatoes and chicken for like $0.
It’s not cheap. Buying a crack shack in a shitty province with basically no job opportunities costs more than a nice place in LA.
Actually.
Getting a piece of shit, run down, SHARED town house in Nova Scotia costs more than a decent house in LA.
You can get a rural house with land for no money. You can grown your own potatoes and raise chickens. That life is exceptionally cheap. But like I said:
People like to live with people.
So the problem is, Canada is big and cold. No one wants to live in the cheap areas.
