Capitalism Can Destroy Itself.

Discussion in 'Politics' started by georgephillip, Aug 29, 2011.

  1. georgephillip
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    georgephillip Gold Member Supporting Member

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    "'Karl Marx got it right, at some point capitalism can destroy itself,' said Mr. Roubini, in an interview with The Wall Street Journal. 'We thought markets worked. They're not working.'

    Markets are mostly places where rich people (and others) invest their money. Curtailing labor laws and slashing social programs help guarantee a profitable return on investors' money.

    If we are entering a new era in global capitalism (one in which the US dollar no longer serves as the world's reserve currency?) the 2008 recession is not temporary.

    The corporate elite will demand a restructuring of the social contract which means past assumptions regarding wages and social programs must be destroyed. One alternative is to tax rich corporations and individuals at the same rates they paid forty years ago, or more, and use that money to fund a massive jobs program that puts millions of Americans back to work.

    Tax the rich or continue paying them interest on money they loan to your government?

    Tough choice.

    Capitalism's New Era | Truthout
     
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  2. DiamondDave
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    DiamondDave Army Vet

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    "Karl Marx got it right"

    The 5 simple words that discredits everything else...
     
  3. georgephillip
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    georgephillip Gold Member Supporting Member

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    Let's give credit where credit is due.

    "The Reagan and Thatcher administrations were the first Western representatives during the post-World War II era of this now dominant trend, which aimed at pushing back the social programs and wages won by the labor movements.

    "Their policies were in response to the lower corporate growth rates that began in the 1970s and continue to this day.

    "Now, all of Europe is suffering because banks and corporations demand a more profit-friendly business environment: universal health care and education programs are in jeopardy, plus wages and other benefits are under attack."

    Capitalism's New Era | Truthout
     
  4. DiamondDave
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    DiamondDave Army Vet

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    And more from your winger blog site as 'proof'...

    Come back when you actually have something of substance
     
  5. Full-Auto
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    Full-Auto Gold Member

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    LMAO I am sure glad the government never ever manipulates markets, If they did your argument falls apart.

    I bet you feel lucky!
     
  6. editec
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    editec Mr. Forgot-it-All

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    Totalitariasm (in any guise) is the end of real capitalism.

    It doesn't matter if it comes to us in the form of a WORKERS PARADISE where the government masters dominate society OR if it comes to us as a PLUTOCRACY where the plutocrats control the government.

    Both extremes spell an end to capitalism and REAL respresentational forms of government. (Honest capitalism and truly representational governments go hand in hand folks)

    Because what happens in both cases is that too much power (read power as both money and government authority) end up in the hands of TOO few people.
     
    Last edited: Aug 29, 2011
  7. georgephillip
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    georgephillip Gold Member Supporting Member

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    We're you working in the mid-1970s?

    I was.
    A single minimum wage job paid the rent on a brand new one bedroom apartment in those days with enough left over to pay off and maintain a six year-old car.

    The richest 1% of Americans earned about 8% of total US income back then, and they earn over 20% today.

    That's enough substance and context for me to understand that today's political attacks on public-sector unions and the targeting of Social Security and Medicare, enhanced by mass unemployment's effect on lowering wages, are the next big payoff for Reagan's and Thatcher's rich parasite base.

    When are you going to wise up?
     
  8. georgephillip
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    georgephillip Gold Member Supporting Member

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    For whose benefit does government manipulate markets?

    Yours or Warren Buffett's?
     
  9. DiamondDave
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    DiamondDave Army Vet

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    Try the government's benefit....
     
  10. georgephillip
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    georgephillip Gold Member Supporting Member

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    I'm guessing you don't mean "We the People's" benefit?
     

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