A large problem is that certain corporations benefit when a company they own fails. We have these large investment firms that own quite a few different companies and their allegiance is strictly to, first, the board, and then the stockholders.Machinesworking wrote:Again, waiting for an answer to this:
How come the european countries that have healthier economies than ours, less national debt and the same standard of living are all more "socialist" than us?
Germany, Finland, Sweden, Switzerland, Denmark, Netherlands, Norway etc. Countries with roughly our attitude are at our level, England, Ireland etc.
Russia has an oligarchy very arguably, but no national debt to speak of.
Iceland fired everyone involved in their financial meltdown, and are in great shape. Granted they're a tiny country, but they freaking did it! and remember they were as bad a shape as Greece and Ireland.
Basically we (USA) have a shit government, shit politicians that are bought and paid for by vested interest groups, mainly large multinational corporations that do not give a fuck in the least if the economy collapses, in fact they end up swallowing up other less agile corporations, (bank buyouts after the mortgage crisis anyone?) and getting fatter. But yeah it's the fault of some pithy government worker making a decent wage, yeah that's it.
What is disheartening is that the system is not a free market but a manipulated market that, as it stands now, will continue to benefit those with access to, an involvement with, large investment firms, especially in economically miserable times.
Take for instance a company based in Oregon, Harry and David. They have, or I should say had, retail stores nation wide. A few years ago the investment firm that owned it, borrowed against the company's line of credit in the form of cash from which they paid themselves back their initial investment plus interest. They bankrupted the company. During the bankruptcy restructuring, the same investment firm that caused the damage, was given court approval to reinvest cash into the company at a high percentage rate plus they were allowed to collect fees against the company--mind you, they are the investment firm that caused the initial bankruptcy. The firm then claimed they couldn't survive through the restructuring if they had to continue paying the pensions of previous employees. So what does the court do! It shifted the pension liability to a Federal fund. So the company's top brass emerge unscathed, while half or more of the company's low-totem workers were laid off and their pensions are now being paid by the federal government. That is corporate welfare but the rightwingers are concerned that some mythical welfare recipient is going to bankrupt the country by expending his benefits at the titty bar.