I don’t understand how capitalism is able to function when every large coronation has an absurd amount of debt that it doesn’t pay off for decades and no one really cares, and when they do care the corporation can’t pay much of it back anyway, if any.
Paraphrasing, but owe the bank $100, that's your problem. Owe the bank $100 million, that's the bank's problem.
Theoretically the bank should have your debt secured against your assets which I would be able to seize and manage or liquidate as needed to recover their losses.
Biggest issue is debt secured against stocks and assets with inflated (fake) value which are quickly not worth anything when a business tanks, but that's on the bank's poor decision making which makes it their problem when shits fucked up
Also over leveraging of real assets. When the bank give you a loan they make that money appear. It never existed to begin with. They only need 10¢ on the dollar for loans, so your $350,000 mortgage or whatever only puts $35,000 at risk for them.
fake money all the way down. finance capitalism has transcended existence to pure religious delusion that they share and when a bubble pops it's like some giant hive mind waking up from a dream :matt-jokerfied:
It's fine as long as the global south doesn't get uppity. The IMF will make sure they cough up and feed the parasite that is finance capital.
That's because you don't have a growth grindset with anticipated synergies and market share.
So do these become apartments operated by the local government which hopefully means the rent is basically just cost of use repair and maintenance?
Remember when Obama's Treasury Department had ownership stake in practically every major investment bank and did nothing with it during a period of historic poverty, debt, and homelessness?
It may be the lazy western communist inside me, but I gotta say, I cannot wait for if the CPC presses the Nationalize and Collectivize button.
