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.
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.