Dubai's free market capitalism

Discussion in 'Politics' started by Mr. Peepers, Dec 14, 2009.

  1. Mr. Peepers
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    Mr. Peepers Senior Member

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    If this system heralded by "conservatives", republicans and corporatists is so unshakably sound and the best system out there - and self-correcting... what the heck happened? Dubai is the "shining Jewel" of free market capitalism in the middle east. Now it is pretty much bankrupt and having to be bailed out by the Saudis.

    Also, this came out today:

    BBC NEWS | Special Reports | Free market flawed, says survey
     
  2. Bern80
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    Bern80 Gold Member

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    Wow. Are you really this dumb? What happened in Dubai is not a failure of capitalism. The market worked exactly as it should have. They gambled and lost. They failed to predict the economic downturn while they were building these monstrous resorts. They were loaned money to build the resorts believing they would be rolling in dough from tourism when it was all done and would easily be able to pay the loan back. They have a product without a market and as such are in danger of going bankrupt. That is EXACTELY how capitalism works.
     
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  3. Mr. Peepers
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    Mr. Peepers Senior Member

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    Still waiting. C'mon. I know this board is lousy with free market corporatists.
     
  4. Mr. Peepers
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    Mr. Peepers Senior Member

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    It bankrupted the entire country. They are INSOLVENT. You just negated your whole point. It is OK to adopt a system that bankrupts your entire country? How on earth is that good economic policy??? It is EXACTLY a failure of capitalism.
     
  5. Bern80
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    Bern80 Gold Member

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    What part of capitalism says you are guarunteed to make money?
     
  6. DiamondDave
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    DiamondDave Army Vet

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    Exactly.. with the freedoms instilled in the capitalist system.. you have the freedom to succeed that goes hand in hand with the freedom to fail....

    Still much better than the control based slavery of anything based on Marxism, socialism, or communism
     
  7. uscitizen
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    uscitizen Senior Member

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    The market should have the freedom to fail.
     
  8. Mr. Peepers
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    Mr. Peepers Senior Member

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    Retards, this wasn't a business that failed. It was a whole country. Just like capitalist greed toppled our economy, only we didn't technically go bankrupt. Do you think there should be more regulation when capitalism fails like this?
     
  9. Mr. Peepers
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    Mr. Peepers Senior Member

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    Question: Do you consider Ireland a socialist country?
     
  10. DiamondDave
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    No.. could have nothing to do with power greed by individuals such as Frank.. overblown government policies... and other such things.. it was all 'capitalist greed'

    utter winger horseshit from the likes of peeping tom again
     

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