Unemployment numbers around the world are rising more than thoughts and prayers during any tragedy broadcast on Facebook. The decision for governments to shut down economies around the world will have long-lasting effects that could last for generations nevermind years.
These decisions have effectively killed small businesses and startups and the stimulus packages planned now and for the future is only socialism for the rich, with bailouts only given to the select few. Companies that have for ages been mismanaged and been misused with mal investment now suddenly cannot come up with a few months of cash flow is beyond me, these are billion and trillion-dollar companies and deserve to fail.
Image Source: - forbes.com
Governments will bail them out
Governments know how to spin a message, and they're going to claim to focus on corporations is the best way to kickstart the economy even though that isn't statistically true. It's the best way to keep the status quo and drive the wealth divide and the best for the corporate and political elite.
The majority of the trillions being printed around the world and made available for relief will go to corporations to strengthen their balance sheets so they can dominate their total addressable market. At the same time, smaller vendors are left high and dry.
What they've effectively done is rewarding inefficacy, and these companies will continue to operate in the same way since they've been allowed to get away with it.
Do you honestly think these management position holders will be volunteering to chop themselves even though they have cash and do nothing? No, they're going to cut as many productive staff as possible and hopefully secure them a few bonuses in the process.
These bailouts not only don't create jobs, but it also adds even more inefficiency to the system and allows companies to inflate their pricing and produce shit service or products as they have less competition.
Bailouts do nothing but keep the riches pockets lined, and the ancillary benefits are less than nothing for the money you're paying.
Public funds going to waste
While these public funds are being squandered by sheer greed and incompetence, the rest of us will have to fight for the crumbs and try to rebuild our livelihoods. Also, we will eventually have to pay the bills in the form of additional tax burdens once the economy is back up and running to eat into the deficit.
Yes, you get none of the upside and all fo the downside.
Have your say
What do you good people of HIVE think? Do you think companies will still be making foolish decisions?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
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