I just finished, well I almost finished reading, an article about another bailout of another bank in Portugal. I got so pissed off I decided to rant for a minute here.
The article published by Zerohedge also sites articles in the Wall Street Journal, Reuters and Bloomberg about the bailout of or "rescue" of Madeira-based bank Banif.
Why the F&%@ do these governments keep bailing out banks? It is plain and obvious that the elites that run the financial world have the governments in their pockets. They keep getting bailed out over and over with billions upon billions of citizens money while said citizens struggle to stay ahead of the "non-existent" inflation that consistently runs ahead of their purchasing power.
Since when are governments bound to consistently bail out capitalist enterprises. Capital sloshing around the world exceeds income for crying out loud! There is plenty of it. If a business is worth rescuing, capital will rescue it. Otherwise, it should die. That is the brutalism of capitalism period. To bail out owners of capital when they have made an investment that goes sour smacks in the face of the entire capitalist logic. To allow capital to be gambled with recklessly, when the gambling involves citizens hard earned money, is where governments are failing globally. Then bailing out financial institutions that fail after sanctified reckless gambling with citizens money puts governments in the same soup as legalized gangsters.
When a bank "fails" there is a simple process. Dissolve the bank, pay the depositors with the insurance in place and move on!! What the hell is so hard about this? If there is a desire in the economy for that bank's services to exist, another will rise, simple as that. The capital is there and the capitalist are there to fill the void. If the bank's services were no longer needed, then it wouldn't be missed!
When are citizens going to say "enough" and just mow over the idiots that keep doing this and start over? Because until that happens, they are going to get screwed again and again while capital and the capitalists keep getting richer and richer on their backs. It's pathetic and to see how it plays out in the "emerging" economies around the world, esp. China for example, it is down right sickening. The established "democracies" with established capitalist "economies" should be setting and example of how things work, instead they are setting examples of how things fail over and over again.
We are told a bunch of sand monkeys with guns mowing over innocent people are evil. Well the real crime on the citizens of the planet are being played by their governments and the capitalist that keep stealing from them while giving nothing in return. I personally am totally and utterly pissed and tired of reading how capitalist are bailed out with every tool of every government and every tool of every central bank. It is time, high time, to stop this madness!
Tuesday, December 22, 2015
Portugal Taxpayers (ahem, Citizens) are Screwed Again
Labels:
Bad Bank,
Bad Debts,
Bad Loans,
Bailout of Banif,
Bank Bailouts,
Good Bank,
Portugal Debt,
Taxpayer Bailout
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