Well, the free market has done its best work and a bunch of trusting folk are now finding themselves run ashore in their barb-wire canoes at the headwaters of Shit Creek. And the U.S. Government, which hates socialism so much, is being urged to save the very pigs who waved those folks on with cries of "trust the market" and "this boom will never end" and all the usual good stuff. It's the same con that dragged hundreds of millions of dollars into the black hole of W.A. Inc. Unfortunately, that government is listening and heeding.
When the fall-out reaches Australia our government will, no doubt, be subjected to the same exhortations. I say, "Let 'em burn!"
We've been told again and again that these types have to be saved or we'll all go with them. Let's put that to the test. If governments want to make gifts of thousands of millions of dollars of public funds, let the gifts be given to people who are being threatened with mortgage foreclosure. Pay off their mortgages. Pay off the loans of small businesses. Pay off the debts of owner-driver truckies. Pay for timely medical treatment for those whose conditions will worsen while they languish on public hospital waiting lists. Give interest-free loans to viable businesses to help them weather these storms. Then it won't matter what the Hell happens to the screen-jockeys and their blathering masters.
I'm just waiting for the first of those scum to take a pile of that public money to give themselves a golden parachute of several million dollars as they leave the burning wreck of the company they've put into a death-dive. For once, the politicians are showing a speck of sense and baulking at the prospect. I hope they've got the nous to hold their nerve for once and hold off the lobbyists.
Seeing the pigs fall without a parachute would be a mighty fine entertainment.
1 comment:
Harsh words but true. Capitalism should not rely on government bail-outs. Let them sink.
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