Read on Twitter
This is the real reason many High Street chains are doomed. It's not #COVID19. It's stacking up debt whilst owners extract cash, whole model relies on rapid cash flow with little room for lower velocity. Same with airlines and tour operators. Short termism https://twitter.com/hendopolis/status/1283769452115496965?s=20
And I really don't think we should be risking public health to save Ponzi capitalism. I feel for the workers for whom the state must step in. And it should insist the wealthy who have benefited from this model pay a big chunk of the cost.
And the state should pick up distressed assets to rebuild the High Street for a range of private and community uses not just ponzi capitalism.
I work near Covent Garden, there's little there apart from endless Pret, Cafe Nero, Eat, Starbucks. There are six or seven Prets within a five minute walk. We certainly shouldn't risk a second wave of #COVID19 to save a few of the outlets. Create space for non Ponzi capitalism.
And, of course, ponzi capitalism is underwritten by the state as interest and dividends are underwritten. So we are actually subsidising all this. Extraction.
