I'm trying to have a good time in Vegas and Moab hiking and ignoring Governor Walz's orders to stay home and do nothing by simply going to other states. The plan is working brilliantly. All I hear about back home is from dopey dumbass Minnesotans who are too sheeple to move out, ignore the orders, and do whatever they want. But then again, they are Minnesotans afterall, the most brainwashable group of low-IQ conformists the world has ever seen.
Regardless, people's ignorance has shown me it's high time I put my hiking adventuring on hold - if ever so briefly - and provide to you fuckwits a basic lesson in economics. Specifically bankruptcy.
Right now, one of my favorite restaurants claimed it will be going under. This is alongside JC Penny also declaring bankruptcy. This naturally begets screams and howls from the non-economist crowd about how bad things are and how Gov. Walz is destroying the economy. But while bankruptcy is in general a bad thing and restaurants going under is "bad" and the people getting laid off is bad, there is some good news.
The assets, the building, the actual machinery, plant, and equipment, even inventory of these now-defunct companies do not go away. If an airline files for bankruptcy, they do not take the planes to to Governor Walz' official "Airplane Shredder" or push the planes into Lake Superior. These assets are put up on the chopping block, sold for anwyhere between 25% and 50% their current market value, and whatever new company/entrepreneur/private equity firm buys it starts the company anew, aaaaannnnddd....
(pay really close attention you MEFW's - "Minnesotan Economic Fuckwits")
operates at a MUCH MUCH MUCH lower cost because their capital assets (you MEFW's can look that term up) cost the new company a LOT LOT less than the company that just went bankrupt. These lower prices actually INCREASE standards of living over time because instead of paying $10 for a martini at Pazaluna, you pay $7 at "Lazapluna" or whatever new company takes over the shop.
Look, I get it, MEFW's and all Americans who don't know the basics of economics were never properly educated in their economics class about bankruptcies or pricing. You were all too busy learning about how "diversity is our strength" and how "the bad bad white man is what's preventing glorious communism" from being properly affected. Brainwashing you into idiocy was the goal of the education system (which they achieved marvelously). but try, just try, for once, to understand how one facet of economics works, in this case, bankruptcy. And realize that Governor Walz is not shredding planes, setting fire to restaurant buildings, or melting down machinery of now-bankrupt companies. These assets (which are the economic productive capacity of the country) still exist and will be resold at a fraction of the cost, lowering prices and increasing standards of living over the long. And to be perfectly honest (though not Pazzaluna as it had a 22 year track record) most restaurants were going to go belly up anyway. Just enjoy the future lower prices and increased standards of living....that is until all this newly printed money makes its way into the economy.
But that is another economics lesson for you MEFWs for another time.
Enjoy the decline!
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