Fundamentals about capitalism:

Discussion in 'Politics' started by GreatDay, Aug 26, 2012.

  1. GreatDay
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    GreatDay Wasn't it?

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    At its core the concept of capitalism is that each person will want to make money, (here we will take as given that money is the accepted currency of life), if each individual is allowed to do that to the best of their ability the society at large will benefit. The thought being that what is best for each is best for all taken as a whole. This is usually tied to the concept that the collective mind, expressed as individual decisions is better than any that can be agreed to in the real world.


    So what went wrong? Wall Street happened. The collection together of capital created organizations to which these simple rules could not be applied.



    The individual desire and ability to enrich themselves started working against the system as our structures became so large they supported the framework of nations not the other way around, when you can enslave a population to pay the bill and you can charge the card and put it in your pocket, the desire to make money becomes toxic to society instead of productive.

    We must reign in the overall power of money and return that power to the people,… Power to the People….
     
  2. Stephanie
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    Stephanie Diamond Member Supporting Member

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    :eusa_shifty:
     
  3. GreatDay
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    GreatDay Wasn't it?

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    Mitt makes 20% on passive returns and you got no questions? You are a sheep....
     
  4. GreatDay
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    GreatDay Wasn't it?

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    I’m glad that at least no one disagrees with this brief analyses.
     
  5. healthmyths
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    healthmyths Gold Member Supporting Member

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    Wall Street is as a former stock broker like ANY other exchange.

    Consider what would a shareholder wanting to sell shares do if there were no exchanges?
    A) How would the price be determined other then adding assets up,subtracting debts creating
    net value. Then add future revenue streams and future liabilities.. discount the value you
    have the price the shareholder would like to GET.

    B) Without the exchange NOW the shareholder has to find a buyer.
    1) Advertising costs now come in.
    2) Contracts of sale created
    C) Now at some point maybe months later a buyer is found.
    Negotiations,etc. contracts signed and the stock certificates exchanged.

    ALL of that is done within seconds ALL due to Wall Street.

    So Wall Street as an organized way to quickly,honestly,efficiently change ownership works!

    I am convinced by the FACTS Wall Street is grossly maligned and the economic collapse was simply brought on by EXTREME efforts externally exemplified by
    the Cloward-Piven Strategy of overloading the U.S. system in order to precipitate a crisis that would lead to a replacement with a national system of "a guaranteed annual income and thus an end to poverty".

    Banks FORCED by lawsuit threats (Acorn) to make BAD LOANS were FORCED by FDIC to get rid of the "BAD LOANS"! What could be done was spread the risk and since the Federal government was the force behind forcing bad loans and FDIC forcing getting rid of bad loans we have these DAMNING STATEMENTs about the agency IN the MIDDLE:

    Oct. 23,2008 (Bloomberg) --
    Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
    "full faith and credit'' of the U.S. government, Federal Housing Finance Agency
    Director James Lockhart said after the hearing.
    That does give them effectively a guarantee of the U.S. government.''
    Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


    Then any attempts to "RAINE" in Fannie/Freddie were ridiculed by:

    * House Financial Services Committee Chairman Barney Frank (D-MA) criticized
    the President's warning saying:
    "these two entities - Fannie Mae and Freddie Mac - are not facing any kind of
    financial crisis .The more people exaggerate these problems, the more
    pressure there is on these companies, the less we will see in terms of
    affordable housing."
    ..
    (Stephen Labaton, "New Agency Proposed To Oversee Freddie Mac And Fannie
    Mae," New York Times, 9/11/03)

    * Senate Committee on Banking, Housing and Urban Affairs Chairman
    Christopher Dodd also ignored the President's warnings and called on
    him to "immediately reconsider his ill-advised" position. (
    Eric Dash,
    "Fannie Mae's Offer To Help Ease Credit Squeeze Is Rejected,
    As Critics Complain Of Opportunism," New York Times, 8/11/07)

    Please refute with sourcing of comments!
     
    Last edited: Aug 27, 2012
  6. GreatDay
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    GreatDay Wasn't it?

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    oh my!

    Let's break this down a little what exactly in my post makes you think that I support a position of "no exchanges"?

    Was there something about the word fundamentals you didn't understand?
     
  7. healthmyths
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    healthmyths Gold Member Supporting Member

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    You said:
    "We must reign in the overall power of money and return that power to the people" Which MY perception is that you strongly believe the OWS mob mentality!

    "Fundamentals" being the operative word in your last comment..

    YOU didn't share any "fundamentals" of capitalism much less an understanding of FUNDAMENTALS when you wrote Wall Street happened" as if the current economic malaise is Wall Street's fault!

    So unless you don't understand the purposes of "exchanges" which the NYSE is one of several on Wall street to facilitate "exchange" of equity positions you are the one with your obvious bias when you wrote.."So what went wrong? Wall Street happened"

    By the way what is your expertise to wax so ignorantly against the system of exchanges that provided Trillions of tax dollars to support you evidently and your family!
     
  8. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Not only do I have no questions, I don't give a fuck.

    Happy?

    :lol:
     
  9. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Capitalism at it's core is based on:

    -Profit motive.
    -Innovation.
    -Competition.

    Remove any of those components? It's no longer capitalism.
     
  10. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Which basically shows you don't have any idea what happened. The CRA had nothing to do with the derivative meltdown. And it's dishonest to put the blame on Freddie Mac and Fannie Mae..who were only "forced" to take over the bad loans as a method to rescue wall street.

    Incredible this bullshit is still being bantered about.
     

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