A year+ ago, the same folks were talking about the incoming switch from under supply to over supply, and the predictable outcome that we see today. None of thos

A year+ ago, the same folks were talking about the incoming switch from under supply to over supply, and the predictable outcome that we see today. None of those involved are surprised by this on the macro level, but when they put their short-term glasses on for the purpose of quarter-to-quarter reporting, they say stuff like "deeper slump than expected". Obviously at the end of the day, these folks are sleeping just fine, knowing and having expected this with >12m of warning.