Wal-Mart and Banking (Walter Block)
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Walter Block, is way too intelligent to pay heed to these people... "We have the greatest banking system the world as ever seen." "Our banking system is not broken." ...and he's a republican? People, who are supposed...to be for the Free Market... they're jokes, seriously...I can't believe Dr. Block wasted his time with them.
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@megatherium100 True, but my point was to address Dr. Block's comment that seemed to say Wal-Mart did it all with no subsidies, which is clearly untrue.
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@mcc1789 But almost all big companys, not just Wal-Mart and subsidaries are getting special privilegies, and it would be to theire detriment if they dont take this privilegies, because they would be on a competive disadvantage to theire competitors. Is not Wal-Mart´s fault that the system is corrupt, the system is inherently corrupt since the begining.
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@crashmoderately Ok, but in his comments Block seems to act like they got it all on their own merit. The massive subsidies say otherwise. I'm not beating up on Block. This is something to mention and take into account though.
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@mcc1789 Dr. Block is not pro-Walmart or anti-Walmart. If Walmart is getting subsidies, he wouldn't support it. If Walmart is being stopped from competing in a particular sector, he wouldn't support it.
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Unfortunately, Dr. Block may not realize Wal-Mart has received over $1 billion in government subsidies, which he would regard as illegitimate.
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@AdurianJ I think you really mean "How dare there be banking regulations. Why can't anyone be a bank?"
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How dare the consumers buy at the lowest possible price for the quality of the product. And how dare the Evil wallmart enable customers to do so.
Also why should they be able to run their own banking affairs when their competitors think otherwise.
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Let's drag these two bank shills back today and let Walter Block call them on their defense of our wonderful banking system.
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"We have the greatest banking system the world has ever seen."
Holy hell...
selfrealizedexile 1 year ago 9
"Our banking system is not broken"
What?!
cobracarg 1 year ago 8