No bailouts. Stupidity should be painful.
“No bailouts. Stupidity should be painful.”
Do not underestimate the stupidity of the American public. A socialist president in ‘28 will bail out all the blue socialist cities until the entire country is broke. Something like Venezuela.
Your comment: "No bailouts. Stupidity should be painful."
Your comment is spot on, and at its source, the simple principle is liberty. Capital -- like donations in the offering plate in church -- is a matter of who "will" and who "will not."
They know most of the Dem plans don’t work, so why should they ever be supported with a bailout? hard lessons that need to be learned are better learned the hard way, but by affecting the general populace as little as possible. Of course, if most of the populace supported Dems, then what can you say?
The problem is, cities like NY, Chicago and Seattle are bailed out constantly, and on a daily basis.
I know NY City well, and it is a welfare city. It produces nothing, and exists on skimmings from Wall Street trading, State aid and massive Federal Transfers in every area - education, transport, medical, welfare, etc...
This has continued for decades, and that entitlement has given rise to a highly aggressive, parasitical, marxist/socialist political class.
And their goal is to gain power over the real producers elsewhere in America
The point being - it's not a problem "when they have a debt collapse in the future." Its an on-going operation / problem NOW