The End of Capitalism? May Day 2020: Boeing - Marx Wins

Posted by freedomforall 2 months, 2 weeks ago to Government
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Boeing illustrates everything that was once great but is now rotten about our Western economy:

It was once a good solid plane maker. It built the aircraft that allowed global airlines to develop, grow and innovate new routes and services. Regional travel, tourism and business travel all exploded in the wake of the Boeing aircraft that enabled it. The B-737 regional jet and the B-747 Jumbo really did make the world smaller and brought it to everyone’s door.
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Today Boeing has no aircraft on its books any airline really wants. Its new B-777x is years late and utterly pointless in this new environment. There have been very few new Dreamliner orders – the whole programme may have lost money. Across the globe airlines are retrenching. It could be years before air travel recovers.

Boeing is textbook corporate failure.

Yet because of the perception Governments will now intervene freely in “free markets”, it’s been able to snub a “strings-attached” government rescue, take market money, and is still backstopped.
SOURCE URL: https://morningporridge.com/the-morning-porridge/f/blains-morning-porridge-1-may-day-2020-boeing---marx-wins


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  • Posted by j_IR1776wg 2 months, 2 weeks ago
    It is sad. How many of us Ayn Rand fans wanted to be on that plane watching the lights go out below. Instead we're stuck in the mud trying to re-ignite a nation of objective laws, limited government, Laissez-faire capitalism, and Individual Rights while surrounded by millions who have never learned the true meaning of these concepts.
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  • Posted by Abaco 2 months, 1 week ago
    My dad worked at Boeing. I worked at Boeing (first job out of college). He was a machinist on the 747 prototype. I did development work on the 777. I've been a stockholder for decades. Boeing has jumped the shark, big-time. They are playing games, have experienced a righteous drop in stock prices and are entering pump-and-dump territory. It makes me sad, honestly.
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  • Posted by Lucky 2 months, 2 weeks ago
    Not sure about some of that, did the fed gov bailout GM bond holders?

    Don't forget, the legend, the 707.
    Anyway, it was tough for Boeing, there is only one major competitor.
    Airbus is technically competent, has avoided, so far, major scandals and disasters, and has what may be an open checkbook backed by Germany and France.
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