Box of Twinkies (Photo credit: Wikipedia)
FREE MARKET CAPITALISM OR CRONY CAPITALISM
I noticed Hostess products are back on the shelves again in grocery stores. It leaves me scratching my head about how this could possibly have happened because I thought they went bankrupt. I remember when GM was going to go bankrupt we were told that GM needed to be bailed out to save the company and all the jobs, because we couldn’t see an America without GM. The politicians and the media were banging this drum as loudly as they could, leaving the impression that if Government (using yours and my money) didn’t step in to help, GM would go under and cease to exist. When Hostess declared bankruptcy, the politicians and the media weren’t beating the same drums, in fact the drums were silent. I guess if GM was “too big to fail”, and Hostess was “too small to save”! Apparently the only thing that saved GM from going extinct, was the rigged crony capitalist bankruptcy set up (more…)
AUSTRIAN ECONOMICS ADDICT 