12-01-2020, 05:33 PM
LRRPF52 Wrote:Im not a big fan of monopolists who throw their power around because they can, killing competition for sport.
Its very rare to find people in the billionaire club who havent managed profit-losing ventures with strategic bankruptcy for that entity. Most people seem to be unaware of this, since people know basically nothing about money other than what theyre told to do (be a debt slave), so it isnt surprising.
That's the direction of American economics. Even the family farm is being absorbed by corporate farmers. Your urban problems are just going to be compounded over the next decade. There are some of us who refuse to believe or accept that Modern Capitalism has a dark underbelly. Do so at your own peril. For my part, I refuse to have a love affair with the likes of either Donald Trump or Jeff Bezos. We need investment and infrastructure. But we are also balls deep in globalization, and both of these men swim in the pool. (or Shark Tank, if you like)
I understand the strategy. But what it ignores, is the fact that somebody DOES have to pay for it, and as there is no such thing as a "good" bankruptcy. The bigger the "entrepreneur", the bigger the string of bankruptcies tends to be. Is that OK? There are substantial costs to the nation. There are litigation costs, personal costs, and tangential costs. The only people that ever win, are the "entrepreneur" and the bankruptcy attorneys. Is it reality? Yes. Is it acceptable, or something to be nonchalant about? Hell no.
I've got a family business that's been continuously in operation since the 1860's. Never once filed bankruptcy. We don't own much, don't take much for salary. Most goes straight back into the business. There's nothing wrong with that model, so long as one doesn't use their personal life to embezzle from their livelihood, or push through the already gaping tax loopholes. (I mean, you use what's available to you legally)