Reply to post: Re: Only 3%?

A real shot in the Arm: 3% of global workforce surplus to requirements

Anonymous Coward
Anonymous Coward

Re: Only 3%?

"those private companies are allowed to go bust."

What, like the failed and then bailed out casino banks did in 2007/2008 in the US and the UK?

What, like the failed and then bailed out US automotive industry did in the US (the TARP program, in case you didn't spot it - details below)?

"Capitalism has lifted more people out of poverty than have been lifted out by all other ideas combined. "

Let's accept (for the moment) that statement is true in the historic sense. In which case, when are the UK and the US going to give it another go, rather than the crony capitalism, corporatism, whatever you wish to call it, which has run (and ruined) the country for the last few decades?

In a capitalist economy, a failed company is allowed to fail (see above). A fair market is a fair market and is not a cartel or a monopoly. Globocorp status does not confer any advantages which are not also available to the SME sector (or smaller), or to state owned entities (e.g. former utilities, etc).

You're not just a lucrelout, you're an ignorant lucrelout. Get a clue or STFU (no offence mate, I just like the sound of the rhyme).

TARP:

"When President Obama took office, America’s automobile industry was on the brink of collapse. The financial crisis had nearly frozen access to credit for vehicle loans and sales had plunged by 40 percent. Faced with that sober reality, the Obama Administration moved quickly to protect the broader economy by stabilizing the industry. These actions saved more than one million American jobs, according to independent estimates.

On December 19, 2014, Treasury announced that it had sold its remaining 54.9 million shares of Ally Financial Inc. (Ally) common stock, exiting the last Troubled Asset Relief Program (TARP) equity investment under the Auto Industry Financing Program.

The automobile industry is now profitable and creating jobs at the fastest pace in 15 years. In fact, since June 2009, when GM and Chrysler emerged from bankruptcy, more than 500,000 jobs have been created."

(source: https://www.treasury.gov/initiatives/financial-stability/TARP-Programs/automotive-programs/pages/default.aspx)

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