Originally Posted by
Sqwak7700
Sorry, but you are wrong on so many levels. The US does not have “extreme capitalism”. Bailing out industries that went heavily into debt by purchasing their own stock, is the opposite of capitalism. That is a form of socialism or fascism.
The problems in the airline industry, or pretty much most industries in the US, is that government has removed the moral hazard and risk. Bankruptcy protection, ”too big to fail” all that crap is NOT capitalism. And you don’t know what capitalism is if you believe otherwise.
Capitalism would let those businesses shut down and reorganize, and creative destruction, which is fundamental for capitalism and free markets to work, would result in better companies that are stronger and prepared to handle such an event like the one we are seeing.
Has Air Koriyo or Cubana ever made the list of dream companies to work for, or set the prime example in air service excellence? Thought not.
Hopefully the world will take this opportunity to get rid of the central banking and fiat currency experiment, as well as get rid of these bloated, inefficient bureaucratic governments. Two of the most efficient countries at dealing with this outbreak have been Singapore and Hong Kong. Both have minimal tax rates with small but effective governing, which is run more like a business than a political circus (for as long as China can keep out of HKG).
So don’t blame Capitalism, it does not exist in Europe or the US. Blame the corrupt, crony politicians that reduce your spending power through inflation while restricting your freedoms and bailing out their buddies in corrupt corporations. Some of these government clowns spend over 30 years in “public service”, with nothing to show for it except making life harder for people with real jobs like you and I. I say to them, get a real job. They would not last 1 week.
Sorry for the rant. Just hate seeing the innocent getting the blame when they aren’t even in the room.