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HeyBub[_3_] HeyBub[_3_] is offline
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Default Bailout (politics)

Puddin' Man wrote:

The US now produces near nothing save WMD's and services. Wall Street
used to have numerous trusted financial institutions. NYC was the
"Money Center" of the world. As production in countries like China
and India has ramped up, foreign investment has become an increasingly
important component of the US economy.

Countries should do what they do best. Producing "things" is not necessarily
the best use of resources (although the U.S. still produces more "things"
than anyone else). For example, medical care produces nothing - except good
health. Insurance produces nothing - except the ability to continue after
adversity. Education doesn't produce a "thing" except a mind capable of
greater endeavors.

Would anyone say a Nike factory in Bangladesh is more worthwhile than the
Harvard Medical School?

The "bailout" violates the very free-market principles that these
folks purportedly worship. If that doesn't tell you something, you
sho'ly aren't listening.

I agree it's not desirable for the govt to do this. I believe in
free markets to the fullest extent possible.

So do they. But only when it is convenient and profitable for them.

There is little difference between the government bailing out the financial
industry and FEMA dispensing MREs and bottled water. The government is the
insurer of last resort.