Ha, this is funny since all of those companies have lost the plot lately on pricing/value. Some (like Kraft) have also made mistakes like moving production state side and then damaged their ability to operate world wide, others (like McDonald’s) have cut every corner on quality while upping their prices and spending like drunk sailors on app and ads. And they all have made choices (like Whirlpool) to make their products last less time thinking we are made of appliance every 3 years money.
This is the one silver lining on the economic collapse, there is a chance that these badly ran companies might just face consequences. Like there is still demand for product, but with wages being what they are no one is jumping on $20 big mac meals, $3 boxes of kraft dinner or $1800 fridges (that will break just after the warranty).
In a working economy these actors would find themselves out of business, instead they have lived off our credit for years selling things we can’t afford. It was always going to come crashing down, but we are finally at the point that they are not denying it and now working to move blame.
I don’t think it’s that simple. Whether one likes it or not, the economy will always recover, particularly because crashes, like trump’s, are engineered. Crashes kill all competition, deeply consolidating the market as only the biggest can survive (or recieve bailouts)
These companies are the result of the consolidation you describe already, and unlike before they are failing before the crash. Think about Kraft for example, who are their big competitor? Who would Kraft merge with to create a bigger Kraft? Would anyone notice a difference? The chances of a bailout are also slim this time, outside of a few select small sycophants. We are not looking at the old cycle of bullshit, but the point where the ability of consumers to spend is crippled.
You are right that an economy will always “recover”. The issue here is (as shown in the article above) across all industries and based in the result of a long long process of devaluing wage rates. So I do think there will be a recovery but I don’t think that it will be bailouts and mergers this time. I think the “winners” here will be the cheaper providers and smaller companies as the world transitions into poorer times.
Ha, this is funny since all of those companies have lost the plot lately on pricing/value. Some (like Kraft) have also made mistakes like moving production state side and then damaged their ability to operate world wide, others (like McDonald’s) have cut every corner on quality while upping their prices and spending like drunk sailors on app and ads. And they all have made choices (like Whirlpool) to make their products last less time thinking we are made of appliance every 3 years money.
This is the one silver lining on the economic collapse, there is a chance that these badly ran companies might just face consequences. Like there is still demand for product, but with wages being what they are no one is jumping on $20 big mac meals, $3 boxes of kraft dinner or $1800 fridges (that will break just after the warranty).
In a working economy these actors would find themselves out of business, instead they have lived off our credit for years selling things we can’t afford. It was always going to come crashing down, but we are finally at the point that they are not denying it and now working to move blame.
I don’t think it’s that simple. Whether one likes it or not, the economy will always recover, particularly because crashes, like trump’s, are engineered. Crashes kill all competition, deeply consolidating the market as only the biggest can survive (or recieve bailouts)
These companies are the result of the consolidation you describe already, and unlike before they are failing before the crash. Think about Kraft for example, who are their big competitor? Who would Kraft merge with to create a bigger Kraft? Would anyone notice a difference? The chances of a bailout are also slim this time, outside of a few select small sycophants. We are not looking at the old cycle of bullshit, but the point where the ability of consumers to spend is crippled.
You are right that an economy will always “recover”. The issue here is (as shown in the article above) across all industries and based in the result of a long long process of devaluing wage rates. So I do think there will be a recovery but I don’t think that it will be bailouts and mergers this time. I think the “winners” here will be the cheaper providers and smaller companies as the world transitions into poorer times.
Accountability will not follow unless we organize for the day after the collapse.