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Why not just let things fail...........
Posted on 10/5/20 at 3:22 am
Posted on 10/5/20 at 3:22 am
When did it become such a bad thing to let things fail? We were told that the banks were too big to fail back in 2007 so the tax payers had to bail them out. We had to bail out the auto industry. Bail out the airlines. The federal government even has to bail out the federal government because apparently it’s too big to fail. We have printed trillions of dollars and tossed it down the toilet in an effort to prevent the next great depression. Now it appears we have to print more. Where does it stop?
There once was a company that made wagon wheels. Remember Oldsmobile? The world does not stop turning when businesses and the government go insolvent. It is a natural process. Survival of the fittest.
Louisiana required a billion dollar bailout from the Feds due to it’s own stupid mandates. Take that away and I bet JBE and company does not continue to shutdown the private businesses that keep the lights on at the capitol.
There once was a company that made wagon wheels. Remember Oldsmobile? The world does not stop turning when businesses and the government go insolvent. It is a natural process. Survival of the fittest.
Louisiana required a billion dollar bailout from the Feds due to it’s own stupid mandates. Take that away and I bet JBE and company does not continue to shutdown the private businesses that keep the lights on at the capitol.
29
Posted on 10/5/20 at 3:24 am to sawtooth
quote:
a billion dollar bailout from the Feds
Posted on 10/5/20 at 3:32 am to sawtooth
quote:
Where does it stop?
Usually with fiscal conservatism... but that doesn't even exist anymore.
Posted on 10/5/20 at 3:45 am to sawtooth
And us Libertarians say every time that this is a precedent and it will happen again and again. And it does.
Posted on 10/5/20 at 3:51 am to sawtooth
People in power admitting they were wrong is a tough pill
Posted on 10/5/20 at 4:15 am to sawtooth
Posted on 10/5/20 at 4:37 am to sawtooth
Sorry to bring politics to the OT, but if you feel like the bailouts started under republican administrations were bad, think of how terrible they’d be under a Biden socialist democrat-controlled administration.
I agree, bailouts should’ve never happened. We are a capitalist society - if an industry can’t figure out how to survive the economy, then let them fail so others can grow and take advantage of the opportunity. Bailouts were the first major step in the direction of accepting socialism in this country.
I agree, bailouts should’ve never happened. We are a capitalist society - if an industry can’t figure out how to survive the economy, then let them fail so others can grow and take advantage of the opportunity. Bailouts were the first major step in the direction of accepting socialism in this country.
This post was edited on 10/5/20 at 4:56 am
Posted on 10/5/20 at 4:54 am to sawtooth
quote:
When did it become such a bad thing to let things fail?
Ever heard of Herbert Hoover & the Great Depression?
For a place that gives lip service to the importance of "history," yall sure are ignorant about it.
Posted on 10/5/20 at 5:09 am to MoarKilometers
Nvm
This post was edited on 10/5/20 at 5:12 am
Posted on 10/5/20 at 5:34 am to TDsngumbo
quote:guess you forgot about social security, welfare food stamps, etc? you must be young.
Bailouts were the first major step in the direction of accepting socialism in this country.
Posted on 10/5/20 at 6:18 am to sawtooth
Same reason they wanted to rebuild New Orleans after Katrina. Makes zero sense. The inevitable will eventually happen again.
Posted on 10/5/20 at 7:17 am to sawtooth
quote:
We were told that the banks were too big to fail back in 2007
While I agree with your premise in general, it’s important to understand that the government’s intervention into the housing market was the catalyst for the subprime bubble and subsequent collapse. Lenders were not writing subprime mortgages before the creating of Freddie and Fannie - which served as insurers for failed subprimes. Once the risk of loss to the lender was removed, lenders wrote thousands upon thousands of made mortgages.
Posted on 10/5/20 at 7:17 am to arcalades
quote:
guess you forgot about social security, welfare food stamps, etc?
None of that is socialism
Posted on 10/5/20 at 7:21 am to Antonio Moss
quote:
None of that is socialism
Posted on 10/5/20 at 7:25 am to sawtooth
quote:
too big to fail
Always thought that was a misnomer. I think they (whoever they are) mean they are too important to the domestic economy so the government wouldn’t let them fail.
I’m seeing an airline higher up and I told her I wished they didn’t but get a handout bc corporations can’t rely on government to bail their asses out while giving obscene compensations. It ended up being a carryover loan for just shy of 5B.
Naturally, I didn’t get da sex
Posted on 10/5/20 at 7:27 am to RIPMachoMan
What’s confusing?
Socialism is government control over the means of production and distribution of an industry on behalf of a population.
Redistribution programs are not socialism.
This is economic systems 101.
Socialism is government control over the means of production and distribution of an industry on behalf of a population.
Redistribution programs are not socialism.
This is economic systems 101.
Posted on 10/5/20 at 7:29 am to sawtooth
quote:
When did it become such a bad thing to let things fail?
It can be traced back to when women were given a political voice. Women are by nature driven by emotion over logic.
This post was edited on 10/5/20 at 7:40 am
Posted on 10/5/20 at 7:34 am to sawtooth
The term “too big to fail” has become way overused, to the point where it now means “too big to suffer without causing some negative effects for the US stock market.” Notice I said stock market, not economy.
I’m a fan of the Alan Greenspan quote - “if they’re too big to fail, they’re too big.” Unfortunately, national politics are infected by special interest groups.
All of that said, it’s also not as simple as saying we have “flushed trillions down the toilet” with the stimulus packages. There is a point where there are no good options, and I tend to believe the COVID stimulus is the lesser of two evils unfortunately.
I’m a fan of the Alan Greenspan quote - “if they’re too big to fail, they’re too big.” Unfortunately, national politics are infected by special interest groups.
All of that said, it’s also not as simple as saying we have “flushed trillions down the toilet” with the stimulus packages. There is a point where there are no good options, and I tend to believe the COVID stimulus is the lesser of two evils unfortunately.
Posted on 10/5/20 at 7:35 am to sawtooth
quote:
We were told that the banks were too big to fail back in 2007 so the tax payers had to bail them out.
Are you familiar with the concept of a bank run? Because that is what we would have been looking at without a bailout.
Posted on 10/5/20 at 7:45 am to Antonio Moss
quote:
Socialism is government control over the means of production and distribution of an industry on behalf of a population.
That is the simple google search definition of socialism. Socialism also includes reducing the disparity of wealth via distribution.
For those commonly confused about full blown communism, it sets out for equal wealth for the public (unless your in charge
) 
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