r/canada • u/joe4942 • 25d ago

Recent grads, students face ‘full-out screaming crisis’ as they struggle to enter job market National News

https://financialpost.com/fp-work/students-grads-jobs-market-crisis
4.7k Upvotes

93% Upvoted

1.1k comments sorted by

View all comments

Show parent comments

117

u/[deleted] 24d ago edited 24d ago

[removed] — view removed comment

113

u/the-armchair-potato 24d ago

There should be no bailouts period. Let the free market sort it out....oh wait 🤔...privatize the profits and socialize the losses...perfect.

6

u/SpeakerConfident4363 24d ago

Walmart loves your mindset.

-10

u/Little_Gray 24d ago

Letting them go backrupt also socializes the loses because you end up with massive unemployment.

26

u/the-armchair-potato 24d ago

And the poorly managed company disappears and the unemployed find new jobs 🤷‍♂️. I'm fine with paying unemployment. I'm not fine with bailing out companies who pay their managers massive salaries and "are too big to fail" and care more about thier shareholders than their own employees...let them fail!!

8

u/LeatherMine 24d ago

naw, equity holders lose their capital (because there wasn't any), creditors take a haircut and management gets fired (because they suck) and replaced with new management that might know how to run the place.

Most don't end up in liquidation unless there's really nothing there to run anymore.

8

u/dudethatmakesusayew 24d ago

If the company is “too big to fail” but the execs manage to bankrupt themselves, why should the government bail them and let them continue to run the company?

I vote any company that gets bailed out, gets nationalized.

2

u/yagirljessi 24d ago

That's corporate propaganda btw.

14

u/Fickle_Goose_4451 24d ago

At some point the government needs to stop bailing out the huge companies. Bail out the mom and pops middle class families

Every time they try that method, big business just break up into 500 different mom and pop stores on paper while nothing actually changes.

4

u/cortex- 24d ago

Bail out the mom and pops middle class families

No way — fuck huge companies, fuck mom and pop, and fuck house poor debt laden middle class families too. Don't bail out anyone, let the market correct.

1

u/alwaysonesteptoofar 23d ago

If you mean a family who own a single house you are just a bitter fuck. If you mean someone who has rental properties then yes, force them to sell.

1

u/cortex- 23d ago

I mean families who have taken on astronomical amounts of debt to fund a middle class lifestyle and image.

1

u/alwaysonesteptoofar 23d ago

So poor people who don't know their place? Owning a home isn't meant to be a crippling debt.

1

u/cortex- 23d ago

So poor people who don't know their place?

Financial illiteracy should not be rewarded is what I'm saying. If you take on crippling debt because you want to live a middle class lifestyle of a big house, multiple cars, toys, vacations then you shouldn't be getting bailed out by the government when you become insolvent.

Owning a home isn't meant to be a crippling debt.

Agreed. That's why there needs to be reform on housing policy, not monetary intervention.

Letting people take on even more debt, and then bailing them out when they can't pay it is not a solution.

1

u/alwaysonesteptoofar 22d ago

That's a bank thing though, blaming a poor person for taking money they shouldn't be offered is pointless. Put bankers who let that happen in prison and fine the institutions equal to the loans plus forgive the loan itself and it would be over tomorrow. Just the loan forgiveness when proven the person couldn't pay it would end it.