Personal and Corporate Welfare, social spending creates monopolists: Dozens of large Canadian companies headed by top-paid CEOs collected COVID-19 government benefits – January 4, 2022,
Laws are laws, and one of the reasons why many of us are against social spending and these government redistributions schemes has to do with all of these government kickbacks. There’s a post on this blog titled “Canada’s Employment Minister Carla Qualtrough has a minimum salary of $22,483.34 per month”. The average person ignores the overt corruption occurring in government.
Social spending creates monopolists and monopolies, when some people imagine monopolies they only point to INNOVATORS as the culprits. John Davison Rockefeller Sr. was an American business magnate and philanthropist, widely considered the wealthiest American of all time, ignored about John D. Rockefeller Sr. was that he was an INNOVATOR, similar to Steve Jobs, Elon Musk, Jeff Bezos, and Bill Gates.
When you’re an innovator your monopoly which is usually temporary occurs because you’ve created something that hadn’t existed prior. John D. Rockefeller Sr. synonymous with Standard Oil revolutionized the petroleum industry and, through corporate and technological innovations, was instrumental in both widely disseminating and drastically reducing the production cost of oil.
It’s important to understand how John D. Rockefeller Sr. made his wealth he made his wealth by bring the cost of oil DOWN in price, that’s the deflation people like myself write about all the time that makes capitalism a superior economic model to socialism. The great innovators bring what was once only available to the rich, down to the poor.
Believers in Social spending, imagine the world differently, the current Justin Trudeau government, imagines that wealth redistribution to people and entities it imagines as worthy of their free money are investments the government should make, because of “INSERT REASON HERE”. There is nothing revolutionary or innovative about personal or corporate welfare?
In the real world, personal and corporate welfare is malinvestment and if you read the story below, the end result of social spending is that bad behavior, as well as stupid government policies, are rewarded with undeserved resources. Now, corporate welfare makes the news, but as I’ve pointed out for years, the people who suffer the most from government welfare are the working classes, because they miss out on higher interest rates for the savings they earn, because the cost of living goes up whenever the government introduces a new social spending initiative.
During the lockdowns, citizens and legal entities were the beneficiaries of social spending? It’s disgusting, and these periods in history are important because most people ignore why the Roman empire fell. One of the main reasons the Roman Empire fell was because of the economy, which eventually went bankrupt because of the constant and consistent misallocation of resources.
A lot of the statues and government buildings in the Roman empire were wastes of money, working-class Romans had the money taxed, and whatever Roman ruler in charge decided to either spend the money on war or building statues and buildings of themselves or their family members. This government waste led to the decline of Rome.
One of the reasons Rome lasted as long as it did, was first and foremost they used real money which in those days was Gold and Silver Rome’s real decline actually occurred when the Roman government started issuing FIAT money.
Gold and Silver is Gold and Silver all over the world, that’s not case with Fiat money, if you’re doing business outside of Rome, Romes money which was stripped of its Gold and Silver contents were considered worthless and this ofcourse accelerated Romes decline.
In Canada, the Canadian dollar is as good as U.S dollar and many people consider the United States on the decline. What most people fail to understand about a declining empire are the private sector services that eventually disappear because wealth redistribution models make the cost of living more expensive and more oppressive.
Because there are so many people dependent on government welfare, the story below likely won’t gain much traction, because the truth of the matter is all sorts of Canadians got free money during the pandemic, these receivers of free money are grateful for the government who stole this money for them and will, therefore, imagine the rich getting richer as merely a cost of doing business.
To people who understand history, you’d be wise to prepare yourself for the eventual economic collapse, because this is unsustainable. Don’t imagine this will stop anytime soon, there will always be an excuse for the believers in social spending to redistribute money and create more monopolies.
Dozens of big companies headed by top-paid CEOs collected COVID-19 government benefits: report | CBC.ca
Interesting times ahead!