Bail Outs For Everyone! Movie Theaters, American Airlines, $60 Billion For Boeing, The Big Banks… (Video)
Bail Outs For Everyone! Movie Theaters, American Airlines, $60 Billion For Boeing, The Big Banks… Video by Silver Report
We need to talk about the moral hazards in our new approach to economic crisis. We never heard of any of this previous to the financial crisis and now it seems like the US economy is unable to grow without stimulus and even then economic growth has still be subdued. Larry Kudlow was attempting to justify the corporate bailouts by saying the Government got a great deal when it bailed out GM. The list of industries that have come calling for a bailout continues to grow by the day. Boeing, of course, is the number 1 exporter in the US so of course, they believe it is a critical industry.
Boeing has been hit from all sides as with the grounding of the 737 and now the declines seen across the entire travel industry. At least during the financial crisis, they felt the need to explain to us why the use of taxpayer money to support certain corporations in the US. Now it is just assumed and market sentiment matters more than sound economic policies. These plans don’t square when companies like American Airlines spent close to $13 Billion dollars on bailouts the past few years while southwestern airlines spent $10 billion yet when they struggle the amount requested could have been paid if the company had not placed all free cash and even borrowed to fluff their stock prices.