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It's Called "Capital Flight"

By Captain Capitalism on October 11, 2012 9:45 PM | 8 Comments

and it's a feature, not a bug, of socialism.

8 Comments

Ken (Kulak) | October 11, 2012 10:47 PM | Reply

Caption and byline is bang on.

Good for Coca Cola, not that I drink Coca Cola anymore after I discovered they were a big supporter of Copenhagen. Must have been drinking Al Gore's koolaid.

small c conservative | October 11, 2012 11:12 PM | Reply

US deficit of $1+ trillion + Obamacare + NAFTA = higher taxes, especially on corporate income ( Obama is calling for this ) -> capital stampede out of the US, followed by nostalgic memories, in ten years time, of the wondrous prosperity of that " Bush-caused " recession amidst a post-American America suffering worsening unemployment, and decline in earnings, and which yearns for return to an America whose President possesses a heart that beats true for her.

Osumashi Kinyobe | October 11, 2012 11:43 PM | Reply

I do not blame them.

cgh | October 12, 2012 12:28 AM | Reply

This move by CCH is about more than just the Greek economy. It also shows CCH's confidence in the ability or willingness of Brussels to maintain Greece as a member of the Euro. That's the real damage here.

As noted in the article, CCH represents all by itself 20% of the entire value of the Greek bourse. In financial terms, this would be like the TSX losing all its oil stocks. This is not a mere setback; it's an utter disaster for the Greek financial system.

Small c, capital flight to where? There's nowhere else in the world that can absorb a serious capital flight from the US. That's why this election is so important.

KevinB | October 12, 2012 2:25 AM | Reply

In quasi-related news, Atlas Shrugged Part II opens in theatres today. Alas, nowhere in Toronto..

Jamie MacMaster | October 12, 2012 9:53 AM | Reply

So, how come CCH didn't relocate to Quebec?

ct | October 12, 2012 10:47 AM | Reply

I won't be any different when the Dippers take over in BC. I will move my company incorporation to AB and my admin reposnsibilities.

The last time those yahoos were in power the had a BC Capital Tax of 1%. Yep, they took 1% whether you were making money or not.

The moronic Libels under Ms. Clarke ran Gordon Campbell out in an orchestrated media campaign but some of us don't forget what he delivered us from in the first place. Campbell did a lot of good things for BC, especially on the business side. Now we have a Premier who threatens to cut hydro off to a pipeline if it is built.

Rick | October 12, 2012 1:27 PM | Reply

Does anybody else find it passing strange that the largest company in Greece is a soft drink company? Now I understand Coke is a huge company but to be the largest company in a developed country (or maybe not so developed) just seems odd.

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Rick : Does anybody else find it passing strange that the largest read more
ct: I won't be any different when the Dippers take over read more
Jamie MacMaster: So, how come CCH didn't relocate to Quebec? read more
KevinB: In quasi-related news, Atlas Shrugged Part II opens in theatres read more
cgh: This move by CCH is about more than just the read more
Osumashi Kinyobe: I do not blame them. read more
small c conservative: US deficit of $1+ trillion + Obamacare + NAFTA = read more
Ken (Kulak): Caption and byline is bang on. Good for Coca Cola, read more

It's Called "Capital Flight"

8 Comments