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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It's about national security. You can't have vital sectors collapse because it's like a breach in a city's wall - it either stands fully or it's useless. Key sectors have to stand or else the chaos would spread exponentially.
Yeah but collapse =/= bankruptcy. I'm not talking about industries going away. I'm talking about letting businesses that made poor financial decisions go bankrupt. If a business can't pay its bills during a crisis like this, that's not the government's fault, it's the business owner's fault. Their business continuity plan wasn't good enough.
The news media acts like letting these airlines or cruise industries fail means we won't have any planes or boats anymore. Another owner will immediately come in and buy them, at a discount, then the newly purchased company won't have any debt because it will be discharged in bankruptcy. Then that newly recovered company can offer more competitive pricing, which is BETTER for consumers because it leads to lower prices. The new owner will also realize that daddy Fed won't bail them out if they make the same mistakes as the last owner. Free market capitalism is our only chance at fixing this issue. It will suck for a few years, but otherwise we're only going to pump this bubble even bigger and it will lead to someone like Bernie Sanders or AOC becoming president, and then we're TOTALLY screwed.