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Old 10-07-2020, 03:25 AM   #1
xoxoxoBruce
The future is unwritten
 
Join Date: Oct 2002
Posts: 71,105
Too Big to Fail

Facebook, Alphabet, Apple, Amazon, some banks and brokers, all too big to fail.
That's bullshit, they could fail but the repercussions, the fallout, would be very bad for the country.
They should say too big to let fail so the government(you) will bail them out... again.

South Korea has the same problem, it's called Samsung.
A guy is literately taking his life in his hands writing about it.
He's working on a book but posting significant information probably so he doesn't disappear.

Quote:
Chairman of Samsung is probably dead but we are all pretending he is alive because if he dies, the country will probably go into an economic death-spiral.
Samsung usually accounts for 20% of the exports of the entire country of South Korea. As a single group, itís a conglomerate with either large or controlling market share in tech, construction, finance & insurance, hospitality, security, travel, food, retail producing 12% of GDP.
Almost $1 in every $5 in the country brought in from abroad is by Samsung.
[McK paraphrase: a whole ecosystem of suppliers and purchases has built up around Samsung, and is completely reliant on it.
These would fail within months if Samsung collapsed] [not a whalefall situation, apparently]
Enter Korean tax code. Korea has 50% inheritance tax on assets above $2.5m. When Lee Gunhee dies, his family will owe the government $7b.
It is a fact that Chairman Lee Gunhee suffered a heart attack in 2014 and was hospitalized.
Nobody but close family members have reported seeing him. People who claimed he was dead have either disappeared or been arrested.
When his death was reported in 2014, the entire country flipped and the story was deleted because the news site said that the whistleblower disappeared.
Itís been five years and nobody can tell us his condition with certainty. Nobody has seem himÖ
It's a warning to not let it get that far because the bigger they grow the harder they fall on you.

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