If You Want to Understand the Face of Modern Capitalism

Just read Aviation Week's savaging of Angela Merkel. (Paid Subscription Required)

Seriously, this article makes me feel a modicum of respect for Angela F%$#ing Merkel.

It centers on the role of Merkel of killing the BAE/EADS merger, and Aviation Week, which is at its core a defense industry newsletter, and as suchit does not approve of government "meddling."

The basic premise behind this is that after sucking up billions of government subsidies and contracts, they want to "unleash the free market" (Translation: move factories to China, overpay senior executives, and continue to get government money).

Nixing the terms demanded by BAE may have been the best thing that Merkel has ever done.

If there is any industry that rivals the banksters for socializing risk and privatizing profits, it is the defense industry, and to treat it as anything but a ward of the state is a profound mistake.