Remember times like now, when the stock market is bouncing all over the place for no real reason. Remember now the next time someone says that we have to change Social Security to save it.
Like in 2005 when Dubya tried to privatize some or all of it by investing it in the stock market. Why yes, of course some people want to throw that huge amount of money at Wall Street and cause the mother of all financial bubbles. The banks would profit handsomely. And if their investments went south, then of course the government would bail them out like we did last time, and the time before that, and…
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Whenever someone complains about China (or any other country, but China seems to be a favorite) subsidizing businesses in that country, I have to ask… From what economy does the money come, that the Chinese government uses to subsidize Chinese businesses? The money comes from elsewhere in the Chinese economy, of course. Ultimately, the Chinese are collectively subsidizing Chinese businesses in order for them to compete effectively against businesses in other countries such as ours.
In America, we call American citizen financed subsidies to American companies “tax breaks.” While, also in America, we call Chinese citizen financed subsidies to Chinese companies “subsidies.”
Why the difference?
American citizens subsidize American industry. Chinese citizens subsidize Chinese industry. “X” country’s citizens subsidize “X” country’s industry. And the citizens of each country are impoverished to various levels in order to do so.
The citizens of some countries sacrifice more for the industries of their countries than the citizens of others.