Wednesday, November 24, 2010

Viability is Irrelevant

or so it would seem for worshipers of socialism who find themselves reluctant to live in countries that wish to remain solvent in the global economy.

Portugal is the latest example where strikers have effectively shut down factories, stalled public transportation, and closed the ports. This is supposed to make Portugal attractive to outside investors how, exactly?

* Nearly 80% of trains were not running, and bus and ferry links in Lisbon were disrupted, along with the metro service

* Both air traffic controllers and airport ground handling operators were on strike, meaning dozens of flights in and out of Lisbon had to be cancelled or rescheduled

* All of the country's ports were closed, according to the unions

* Fewer than 10% of the workforce at Volkswagen's Autoeuropa plant near Lisburn turned up for work, according to unions
Most of Portugal's back breaking debt is held outside of the country. That is, in the past it was able to convince foreign investors that it would be able to pay back its debt even though it was engaged in a campaign to oppressively constrict the private sector while turning the centralized government into the do-all end-all career choice for its woefully under productive workforce.

As a result of the country's economic policies, the economy has struggled to the point that the country (and those gullible foreign investors) fears it may not be able to meet its obligations and its only course of action is to rein in the costs that serve to make the country a human slab of uncompetitiveness.

Which sorta pisses off those who have reaped the benefits of these slatherings of largess. The mindset is that, regardless of consequences, "you will not cut our benefits!"

Makes you want to invest in Portugal, doesn't it? I'm certain Volkswagen is glad that it did.

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