Quote:
Originally Posted by randolph
Apparently you are equating Obama's program to communism. Pouring billions of dollars into weak and failing capitalist companies in order to bail out our capitalist system hardly seems communistic.  |
Well, actually that's EXACTLY the definition of why his programs ARE communistic (or socialistic since others like to slap that label on things as well).
Pure and simple: if capitalism was allowed to work -- and given a chance to properly re-balance itself exactly as a capitalistic system SHOULD -- then Obama should NOT be pouring billions of dollars into these "weak and failing companies" you're talking about. Instead, by the pure definition of capitalism, these companies SHOULD be allowed to fail or go under completely -- or at the very least as we're now seeing with Chrysler, be forced into filing for Chapter 11 bankruptcy in order to TRY and survive, but do it through actual across the board reorganization efforts.
For example, and again using Chrysler, instead of wasting billions and billions of taxpayer dollars on them which simply got flushed away for nothing (which is what we've done to date), they should have received NO bailout...they should have been forced into Chapter 11 much sooner...at which point a Bankruptcy Judge would have had the court appointed power to say to all concerned: "Okay, Management, this is what YOU now have to do to save this company, the sacrifices I'm ordering you to make...okay, dealerships, this is what YOU have to do and the sacrifices you have to make...oh, ye! And you Union people, I'm also ordering YOU to renegotiate and restructure your contracts for the same reason. You want to save your jobs, these are the concessions you'll have to make TOO."
Would it have been painful for Chrysler to do a Chapter 11 sooner?
Yes, but look where we are -- we've wasted billions and now we ARE at that same place.
Would it have put people out of work?
Yes, but that is now going to happen ANYWAY.
So
again, we've now wasted BILLIONS of dollars simply delaying the inevitable.
Is this the proper way to do things?
Yes, because you're now letting the actual market decide. That's capitalism at work. Well, unless you're like Obama and you believe in propping up companies that continue to manufacture products that nobody wants to buy, so now the government sticks its nose in and says "Ah, fuck it. We'll keep it afloat just for the hell of it. Here, take some free money on us."
And if that's what Obama supporters believe in, please PM me and tell me where I can get or download the filing forms to apply for some of these bailout funds. Because if I knew that I could get free money from the government that would just be given to me to continually produce a product that no one has any interesting in actually buying or owning, I would have gotten in on this gravy train a long time ago!