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Joined: 12/13/1999 Posts: 62574
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Exactly, people don't understand "creative-destruction"

It is OK for business to fail, even essential if they're not allocating resources as well as could be done with restructuring. It is a GOOD thing that Lehman Bros went bankrupt (and frankly a few others should have also, I'm agreeing that "too big to fail" is a problem when used to save those other companies) Yeah, sure, you feel sorry for their employees, some of them a least, but it's just gotta work that way.

So like forest fires you're better off with a lot of small fire "adjustments" than continuingly saving everyone otherwise you'll just get one great big recession like 2008.

Goes for both parties, everyone is continually stimulating the economy never allowing recessions eg, Trump lowers taxes, and Biden just dumps cash on everyone. (W did the same thing, Obama did the same thing.Dare I give credit to Clinton for getting close to balancing the budget even if it was on top of tech economic bubble?)

It's moral hazard.

.

[Post edited by `lag at 10/11/2021 2:10PM]

(In response to this post by Vienna_Hokie)

Link: Some MIT stuff....

Posted: 10/11/2021 at 12:49PM

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Current Thread:

Typical Friday night at ATL -- LaneRat 10/11/2021 09:07AM

My uncle lives ATL, u should've looked him up. :/ ** -- FfxStationHokie 10/11/2021 4:03PM

Delete** -- ModerateHokie 10/11/2021 3:54PM

Thanks to SW, my weekend got longer. -- MCL3 Hokie 10/11/2021 12:05PM

It's awesome. Soon it will be really difficult to fly or drive anywhere -- vt90 10/11/2021 1:41PM

Wow, that was painful! ** -- EDGEMAN 10/11/2021 12:09PM

The upside is I got another few precious hours with her. I'd do it again. ** -- MCL3 Hokie 10/11/2021 12:12PM

Silver linings :^) ** -- `lag 10/11/2021 12:31PM

(whew) Flew SW a week ago - coming back - pretty clean and efficient -- `lag 10/11/2021 11:47AM

That's why I always fly private ** -- Brown Water 10/11/2021 11:14AM

Just heard there was a sickout Friday at the Jax ATC -- LaneRat 10/11/2021 10:40AM

As long as you have USN ATC personnel in the area... -- EDGEMAN 10/11/2021 11:34AM

I spent some quality time in ATL myself last night! -- Rinoki21 10/11/2021 10:06AM

Southwest had a pilot sickout over the vax mandate. American may be next. ** -- RoswellGAHokie 10/11/2021 10:20AM

That's just not true. Just more misinformation. -- Brown Water 10/11/2021 2:42PM

A sickout would violate their union contract so they’re not going to admit -- RoswellGAHokie 10/11/2021 2:48PM

The AA pilot union head said of the 14,000 pilots, 4,000 are not vaccinated -- MCL3 Hokie 10/11/2021 12:11PM

That its a 4 hour drive ? ** -- bigbadbird 10/11/2021 09:56AM

Yesterday it was really difficult to find gas anywhere along I-81 ... -- vt90 10/11/2021 09:51AM

Noticed that all the pumps were out at the bojangles when leaving town, we -- BRVT 10/11/2021 1:24PM

Kroger So. Main ran out of gas Sunday am ** -- calihokie 10/11/2021 12:39PM

Where were you trying to stop? Lexington? ** -- hoosnowahokie 10/11/2021 10:05AM

We tried both stations near Claytor Lake (MM 101) and then stopped again -- vt90 10/11/2021 10:10AM

Had no issue after the game at the big loves station right -- fordham 10/11/2021 10:41AM

Weird. That's where I work, only had 1 day that happened -- hoosnowahokie 10/11/2021 10:12AM

I didn't see any of that. Made my usual gas stop w/out incident. ** -- RhinoVT 10/11/2021 10:02AM

I flew last month and was surprised by the # of closed restaurants/shops -- HokieNoVA 10/11/2021 09:26AM

The service industry essentially shut down during covid. People couldn't -- 133743Hokie 10/11/2021 1:33PM

There are ... -- vt90 10/11/2021 1:44PM

The shifting of spending from services to products has increased the demand -- 133743Hokie 10/11/2021 3:04PM

Our local Harris Teeter put up a 9:30 closing time just recently... -- `lag 10/11/2021 11:53AM

All NOVA HT's now close at 9 -- arlingtonhokie 10/11/2021 10:04PM

We are in a vicious cycle -- MrBayAreaHokie 10/11/2021 11:23AM

Read a research report this summer at my prior -- GreenvilleVT 10/11/2021 5:20PM

Talked to the owner at tots, they are hurting bad for employees -- BRVT 10/11/2021 1:27PM

I'd say there is a lot true in there, but like most things, there's more -- Vienna_Hokie 10/11/2021 12:30PM

One paradox there is that paying rent subsidizes those landlords. -- `lag 10/11/2021 12:36PM

Hmmm....sounds kind of familiar doesn't it... 2008 / 2009? -- Vienna_Hokie 10/11/2021 12:39PM

Exactly, people don't understand "creative-destruction" -- `lag 10/11/2021 12:49PM

I'd be ok with the last point as long as we kick an equal number -- HokieNoVA 10/11/2021 11:47AM

Could be places folding due to the really stupid -- fordham 10/11/2021 10:44AM

Sharyl Attkisson had an interesting segment on the Amish approach to C-19 -- EDGEMAN 10/11/2021 11:41AM

I cant even imagine/s ** -- ColoVT82 10/11/2021 5:43PM

They shut down which is what happens -- lchoro 10/11/2021 2:50PM

Not enough people to staff them and it is a nationwide problem ... -- vt90 10/11/2021 10:02AM

Many fast food chains/franchisees are finding it profitable to keep their -- 133743Hokie 10/11/2021 1:35PM

Sounds like Arby's in C'burg. ** -- saret 10/11/2021 3:49PM

It may be profitable in the short run but it's a deterrent as well -- fsghokie 10/11/2021 2:20PM

Agree. I find myself being turned off by having to wait in long lines and -- 133743Hokie 10/11/2021 3:06PM

Sure, but you just automated the order process... -- `lag 10/11/2021 2:54PM

Oh, I agree, MTO at Sheetz is a good example -- fsghokie 10/11/2021 3:05PM

That's the funny thing about cars wrapped around the building... -- `lag 10/11/2021 4:17PM

Sounds more like they have to than they want to but at this point they have -- vt90 10/11/2021 1:38PM

Actually many are finding they can make just as much profit, i.e. opening -- 133743Hokie 10/11/2021 3:02PM

I flew a week ago and BWI was fully open and crowded. ** -- RhinoVT 10/11/2021 09:43AM

Exactly, people don't understand "creative-destruction"

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