09 Aug 23
@averagejoe1 saidOk, Donald.
Hey, everyone , it is AvJoe. I see y'all upset about the trucks getting a bailout, but you are not upset about the graduate students, with high-paying jobs, getting bail outs.
I am going to talk to my coffee group in the morning about how disengenuous and hypocritical that 'you guys'* are. How do you like THAT!?!?
You will not be able to respond to this obvious ...[text shortened]... ageJoe1 wins EVERY argument on the Forum.
I really do. Why? Logic, common sense and rationale.
09 Aug 23
@earl-of-trumps saidThe financial aid given to businesses during the unexpected economic disruption of a world wide pandemic probably avoided a catastrophic depression.
.
Trucking Firm That Got $700 Million U.S. Bailout Declares Bankruptcy
https://dnyuz.com/2023/08/07/trucking-firm-that-got-700-million-u-s-bailout-declares-bankruptcy/
Capitalism SUCKS. And this is a good reason why. Lets get the thieves out.
Go FREE Market, Go Libertarianism.
That some firms given such funds ultimately failed hardly invalidates the program; some business failures are an unavoidable product of capitalism.
09 Aug 23
@no1marauder saidOf course, no question. And govt KNOWS there will be failures, and is prepared for it within the confines of the many laws relating to businesses, including bankruptcy. Many shortsighted people want to disallow bankruptcies...they would not if they understood it.
The financial aid given to businesses during the unexpected economic disruption of a world wide pandemic probably avoided a catastrophic depression.
That some firms given such funds ultimately failed hardly invalidates the program; some business failures are an unavoidable product of capitalism.
What they also don't understand is that this new scurrilous idea of letting college grads walk is not recognized in our law. It took the SCOTUS to winnow that out.
So,,,,,that's that.
09 Aug 23
1 edit
@suzianne saidCan you not tell us what you think about, and what we should 'do about' corporations, who made your computer? There is one poster here who has already suggested that at the end of the day, all of the employees of the corps divide up profits, etc. Put them on an even keel with the men who took a risk and invested in the building of the corp. No sense suggesting that.
Except that Libertarians are as pro-corporation as Republicans.
So, what else?
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09 Aug 23
@no1marauder saidseems the teamsters union caused this
The financial aid given to businesses during the unexpected economic disruption of a world wide pandemic probably avoided a catastrophic depression.
That some firms given such funds ultimately failed hardly invalidates the program; some business failures are an unavoidable product of capitalism.
“The company claimed in June that the Teamsters union was blocking restructuring and modernization efforts, collectively known as “One Yellow”.”
https://www.theguardian.com/us-news/2023/jul/31/yellow-trucking-firm-layoffs-bankruptcy
09 Aug 23
1 edit
@mott-the-hoople saidThe key word there is “claimed” mott, some people ‘claim’ their Elvia but guess what?
seems the teamsters union caused this
“The company claimed in June that the Teamsters union was blocking restructuring and modernization efforts, collectively known as “One Yellow”.”
https://www.theguardian.com/us-news/2023/jul/31/yellow-trucking-firm-layoffs-bankruptcy
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09 Aug 23
@kevcvs57 saidwhat is “key” about it?
The key word there is “claimed” mott, some people ‘claim’ their Elvia but guess what?
09 Aug 23
@no1marauder saidI remember the Chrysler bailout (Lee Iacocca) very well. Chrysler survived and paid back the loan in full, before it was due.
The financial aid given to businesses during the unexpected economic disruption of a world wide pandemic probably avoided a catastrophic depression.
That some firms given such funds ultimately failed hardly invalidates the program; some business failures are an unavoidable product of capitalism.
But, bailouts are discriminatory, to begin with. Surely there were thousands of businesses that could have survived
had they received a generous loan from the fed. you see? very unfair. And then there are pure money-laundering thefts
of government $$$ such as the bank bailout under Obama, the Freddie Mac and Fannie Mae collapses.
The Libertarians have it right
09 Aug 23
@mott-the-hoople saidThere's a shocker, eh? 😵
seems the teamsters union caused this
“The company claimed in June that the Teamsters union was blocking restructuring and modernization efforts, collectively known as “One Yellow”.”
https://www.theguardian.com/us-news/2023/jul/31/yellow-trucking-firm-layoffs-bankruptcy
10 Aug 23
@earl-of-trumps saidThe bank bailout was enacted BEFORE Obama:
I remember the Chrysler bailout (Lee Iacocca) very well. Chrysler survived and paid back the loan in full, before it was due.
But, bailouts are discriminatory, to begin with. Surely there were thousands of businesses that could have survived
had they received a generous loan from the fed. you see? very unfair. And then there are pure money-laundering thefts
of gov ...[text shortened]... k bailout under Obama, the Freddie Mac and Fannie Mae collapses.
The Libertarians have it right
"Signed on October 3, 2008, by President George W. Bush, TARP allowed the Department of the Treasury to pump money into failing banks and other businesses by purchasing assets and equity. The idea was to stabilize the market, relieve consumer debt and bolster the auto industry. Referred to by some as a “bank bailout,” TARP sparked both praise and criticism."
https://www.history.com/topics/21st-century/troubled-asset-relief-program
Typical right wing selective memory.
Each case has to be judged on its own merits; I opposed the bailout of banks in 2008 (who's own practices caused the crisis in the first place) but was generally supportive of COVID era financial aid to businesses.
10 Aug 23
@Earl-of-Trumps
Did you say very unfair? Tell us then that loan forgiveness to college losers is fair Earl. I'm calling you out! By glly! (oops a missspell)
My secretary makes just enough money to be a taxpayer, which means her money will go to shore up the agency of the govt that has to eat the college loans. This is what Marauder has tried to cover up, even as I just explained it in about 13 words.
So, she watches the college grads fly to Paris for the weekend while i make her work long hours.
Is that fair>. Why say the bailouts are a bad deal while you say the loan forgiveness is fair?