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-   -   Bailouts could doom the airline industry! (https://www.airlinepilotforums.com/covid19/128964-bailouts-could-doom-airline-industry.html)

Generic Pilot 04-22-2020 06:18 PM


Originally Posted by Slaphappy (Post 3038623)
Socialism is the nationalization of industries. Like healthcare for example and it's bad.

So you're saying that if we give money to the corporations, then we should nationalize them?

Interesting idea

Slaphappy 04-22-2020 11:58 PM


Originally Posted by Generic Pilot (Post 3038709)
So you're saying that if we give money to the corporations, then we should nationalize them?

Interesting idea

No, just correcting your ignorance.

Generic Pilot 04-23-2020 01:57 PM


Originally Posted by Slaphappy (Post 3038855)
No, just correcting your ignorance.

With your superior ignorance.

ok buddy

rickair7777 04-23-2020 06:58 PM


Originally Posted by Generic Pilot (Post 3038709)
So you're saying that if we give money to the corporations, then we should nationalize them?

Interesting idea

Cold, hard reality: some industries are so critical to the economy (like us for example) that the cascading costs of not bailing them out are far worse than the bailouts. There's nothing fair or equitable about it, it just comes down to what can we not live without.

Politicians need to keep the economic golden goose alive.

Government bureaucrats need to keep the tax base goose alive.

SonicFlyer 04-23-2020 07:58 PM


Originally Posted by rickair7777 (Post 3039610)
Cold, hard reality: some industries are so critical to the economy (like us for example) that the cascading costs of not bailing them out are far worse than the bailouts. There's nothing fair or equitable about it, it just comes down to what can we not live without.

Politicians need to keep the economic golden goose alive.

Nope, the Constitution disagrees.

Not to mention that the basic law of economics explain why what you have described is a horrible idea.

captive apple 04-23-2020 08:04 PM


Originally Posted by SonicFlyer (Post 3039647)
Nope, the Constitution disagrees.

Not to mention that the basic law of economics explain why what you have described is a horrible idea.

what?
what part of the constitution was infringed?
what laws of economics?

SonicFlyer 04-24-2020 07:18 AM


Originally Posted by captive apple (Post 3039650)
what?
what part of the constitution was infringed?
what laws of economics?

Bailing out business (or people for that matter) isn't authorized in the Constitution.

As far as economics, it is a bad idea to do so because it is paid for by either borrowed or printed money, both of which are harmful to the economy. And it creates what is known as a moral hazard. -- https://fee.org/articles/the-moral-h...of-government/

Excargodog 04-24-2020 12:03 PM


Originally Posted by SonicFlyer (Post 3039919)
Bailing out business (or people for that matter) isn't authorized in the Constitution.

Promote the general welfare...?

rickair7777 04-24-2020 02:01 PM


Originally Posted by SonicFlyer (Post 3039919)
Bailing out business (or people for that matter) isn't authorized in the Constitution.

As far as economics, it is a bad idea to do so because it is paid for by either borrowed or printed money, both of which are harmful to the economy. And it creates what is known as a moral hazard. -- https://fee.org/articles/the-moral-h...of-government/

Constitution doesn't forbid it, and it reasonably falls under prudent governance per both precedent and the constitution... the constitution doesn't authorize you to fly airplanes either.

I'd give the airlines a pass on moral hazard on this one, because they were mostly positioned to weather a 9/11 type event or other typical downturn. Loss of essentially all revenue for 4-8 months was not what anyone would have considered a plausible scenario two months ago. There's no precedent for this.

And the airlines are a very key economic pillar... the economy will not come back without them, or at least not as anything recognizable and certainly not within a decade. Too many other sectors would have to completely collapse and then re-invent themselves, or be replaced by something new. That would take 10-30+ years and result in global human misery beyond reckoning. And war, don't forget that part... plague and famine don't tend to ride very far without their two brothers.

SonicFlyer 04-24-2020 02:16 PM


Originally Posted by Excargodog (Post 3040334)
Promote the general welfare...?

That's not what it means. At the time it was written that phrase meant that anything the government did had to be for the general welfare of all people (as opposed to the welfare of a few or upper class).


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