Think you are not affected by the XL, think on, the taxpayer has got to bail out the compensation fund that is already in deficit.
Cheap airfares, commercially are being subsidised by the State, as the costs of full compensation insurance are not passed on.
Barclays called in their loans to XL a month ago, perhaps the taxpayer should be calling in its loans of £200Bn to the Banking Industry.
Is there any business failure that doesn't involve the taxpayer getting screwed nowadays? Is there anybody out there who thinks that allowing the government to co-opt business is good for anybody? Government regulation is portrayed as protecting the consumer, but actually all it does is create barriers to entry to protect existing business from new competitors by radically increasing the start-up costs for newer, smaller, more innovative businesses. It doesn't work at actually protecting us. Big government isn't working, it's not protecting us, it's not insuring us against misfortune, it's not educating our kids, it's not taking care of our health. Business is making easier profit from rent-seeking than it is from doing business.
This isn't working, and it's time for us to stand up and demand a different strategy, a different way of doing politics and a different way of doing business.
Join the Libertarians now, you know it makes sense.
2 comments:
Yup.
Corporatism at its best!
I don't see the problem with Barclays recalling their loans. Imagine the uproar from shareholders and pension funds who invest in them if they hadn't.
Perhaps we should instead point the blame at the EU and Westminster which allowed airlines to take the brunt of the 'something must be done' attitude towards global warming. Which, of course, is supported by the Tories as well as the usual lefties.
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