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That's a symptom of the problem GP is alleging, though: of companies obtaining returns by mooching off the free capital provided at taxpayer expense to grow you
by fennecfoxen 6y ago
That's a symptom of the problem GP is alleging, though: of companies obtaining returns by mooching off the free capital provided at taxpayer expense to grow your market share at the expense of others... rather earning them them by doing hard work to build businesses that earn their profits, while paying the real costs that your unsubsidized competitors have to pay themselves.
There's been real disruption since 2008. Stock market returns don't show it, and they should. The efficient allocation of society's capital depends on honesty and fairness here, and instead this gap is papered over by government intervention, meant first and foremost to prop up politicians' careers, in an unsustainable sham. It will go better for society if we are honest about it than if we wait for everything to collapse when we are truly put to a test and find there is nothing to our prosperity but a mirage.