Trump was right about Obama’s fake recovery, but he didn’t do anything to fix the problem. He owned the stock market highs! The Fed has lost their ever-loving Keynesian minds! Let businesses fail. Let industries fail. Let individuals fail. The taxpayers fund the government, not the other way around. The government can’t prop up all these things.
You think the airline industries shouldn’t be able to fail? Why not? Are you a commie that wants state-run airlines? If an industry is bankrupted, then a BETTER owner will buy it up and try to run it more efficiently and avoid the risk that killed the last owner. It doesn’t mean we won’t have planes in the sky.
America needs CAPITALISM not BAILOUTS or SOCIALISM. Gah this is the one thing where trump drives me crazy. I love out president, but bailing out industries was an Obama era mistake. Please Mr. President don’t inflate the bubble bigger.
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Yeah, I have to agree with you on this one. Especially the airlines. They are a huge capital-intensive business. But rather than save their pennies for hard times they spent every bit of it on stock buybacks. Why? The Feds made it clear in 2009 that everyone gets bailed out as long as you don’t plan for hard times. So no company has been saving money for a rainy day. Why do that when the Fed will do it for free.
This is really more of a Fed problem as opposed to a policy problem - the Fed has committed to buying unlimited amounts of bonds - a literal QE infinity. Our financial position gets worse and worse after each of these crises. They are really overreacting to this latest crisis - I’ll guesstimate there’s been 6 trillion committed to this thing already. That’s $20,000 per person, or $80,000 for a family of 4. Blown in just a couple of months. They can’t possibly think we can ever pay that off. Which begs the question - what are they planning?