Since last year onwards, there has been many bailouts by the various governments especially in US and Europe in the financial sector. But seems the bailout has spread to other companies. Just last week, a very large network telecommunication company in Canada called Nortel network, filed for Bankruptcy, chapter 11. Plus Citigroup, a very global Financial player especially giving out loans to SME in the states, is split into two companies.
Never before has i heard on some many large companies falling apart and having taxpayers money to bail them out, when in the first place, the problem is started by these very people. Many government assure us this is only temporary and things will get better at second quarter of this year. Either we are all blind or native to believe such things. The massive flooding of paper money in the system and the next to zero interest rates, has and will spearhead a never seen before hyper deflation then follow by hyperinflation.
If we did the problem above, we will be jailed and put on trial by the various courts and government sectors, let alone given a bailout. I cannot help but observe that the government is so willing to help these businesses on the pretext that they are too big to fall and their failure has far grave impact on the world economy on the whole.
I pray that the people in charge will make the correct decisions in the coming months to ensure the above situation will not happen.
The last time such a thing happen, we went to war (the start of WW2 was the introduction of Hitler to power in bankrupt Germany during the early 1920s and 1930s)
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