No, I'm not talking about the mixed martial arts style. I'm referring to our nation's airlines in the context of $120+ oil. Shit...even at $100+ oil, the airlines CANNOT stay solvent. It's a mathematical impossibility. Airlines will need to GROUND planes and POUND out new agreements with labor unions or they WILL go bankrupt.
Risk of airlines' default climbs
Think the federal government can bail out these guys too? Think again. There is NO fin'g money in the federal government to bail anyone out. Here's the list of things that require "bailing out" as they are woefully unfunded or are facing insolvency (bankruptcy). Some sooner than others.
Banks and Investment Firms
Local banks
Airlines
Auto manufacturers
Scoial Security
Medicare
Medicaid
Local and State Pensions
Local and State Governments
Federal Pensions
We're talking trillions and trillions of dollars of unfunded obligations and future bailouts. This country cannot support the actual list of obligations and it certainly can't support any future obligations in the form of private company bailouts. There are serious problems in this country and there isn't even a remote whiff of a chance that any current or future politician will deal with these issues effectively...unless "we the little people" wake the fuck up.
1 comment:
My first visit here, after seeing your reference on Mish's site. A very worthwhile contribution. Thanks.
Post a Comment