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Biden: Find Me MORE Things I Can Make Insanely Expensive!
The purpose of antitrust legislation is to prevent anti-competitive monopolies. Has the Biden DOJ ever heard of Delta, United Airlines, Allegient, Southwest, and several other American and foreign airlines? In a capital-intensive industry like air travel, you must rely on Economies of Scale to keep costs reasonable. Biden has effectively prevented two relatively small airlines from combining to cut costs and compete better with the large airlines. How the hell is this supposed to help the consumer? Not only does combining cut costs, it creates much greater flexibility with connecting flights and such. It’s bad enough that airlines must contend with crippling labor unions, volatile energy prices, and stifling government regulation. There’s absolutely zero benefit to the public to preventing this merger. The market reaction was swift, with Spirit Airlines stock immediately falling 60 percent on bankruptcy fears, while JetBlue fell over 10 percent.
So, what was the Biden motivation? My guess is the bigger airlines provide far greater campaign kickbacks. It also could be an intentional effort to make flying more expensive, a nod to the climate change crazies. Why not? It’s not like it’s going to make flying their private jets more expensive.
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