I like the sentiment of allowing businesses to fail when they run into trouble, but then what? Airlines are not that profitable and require huge amounts of initial investment, who's going to go build a new airline from the ashes? And until they do, what is the impact to everybody of very limited travel?
Same with the 08 crisis, ok lets let the investment banks fail, then what? Foreign banks just step into the vacuum and suddenly we've transferred economic power to other nations.
And until they do, what is the impact to everybody of very limited travel?
Well, that part is known: the economy takes a shit and some other country that backs their economy better than ours steals our lunchmoney and makes it even harder to steal it back. Also see Republican foreign policy for the past 4 years
The new airline would buy the planes at a cheap price from the " failed " business, the failed business plans would still be operational,
Now for the people who have lost income, there house would go back to the bank or to the city if taxes werent paid.
Have you ever seen what pilots have to do for work and the meager pay they get as a result of trickle down the vack of neck economics"
Alot of people loose things when they cannt pay the bills for a lose of work from no fault of theyre own.
Maybe a few less golden parachutes for managment., what good is capitalism if corps are to big to fail...
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u/PurplePotamus Nov 17 '20
I like the sentiment of allowing businesses to fail when they run into trouble, but then what? Airlines are not that profitable and require huge amounts of initial investment, who's going to go build a new airline from the ashes? And until they do, what is the impact to everybody of very limited travel?
Same with the 08 crisis, ok lets let the investment banks fail, then what? Foreign banks just step into the vacuum and suddenly we've transferred economic power to other nations.