The End of Capitalism

[Grismonda]

Recent events in the USA indicate that the type of Capitalism practiced there in the last few years has ended. The idea of little or no regulations, that the market will look after the economy, that greed is good and prosperity will trickle down to the poor have all proved to be wrong.

The USA government has nationalizes several companies, forced others to merge and wanting one of its most powerful banks to be propped up by a Communist Chinese sovereign wealth fund.

It has introduce regulations to the banking and insurance companies. It has banned such functions as future trading and now is preparing to take all the debts of these companies to avoid recession.

Surely if this is not a socialist solution it does mean the end of the unrestrained capitalist solution and a movement towards a mixed economy.

 

[dilloduck]

Recent events in the USA indicate that the type of Capitalism practiced there in the last few years has ended. The idea of little or no regulations, that the market will look after the economy, that greed is good and prosperity will trickle down to the poor have all proved to be wrong.

The USA government has nationalizes several companies, forced others to merge and wanting one of its most powerful banks to be propped up by a Communist Chinese sovereign wealth fund.

It has introduce regulations to the banking and insurance companies. It has banned such functions as future trading and now is preparing to take all the debts of these companies to avoid recession.

Surely if this is not a socialist solution it does mean the end of the unrestrained capitalist solution and a movement towards a mixed economy.

Agreed--a mixed economy heading quickly toward socialism.
Mediocre is so blah. Do you think Americans have a clue what this means to them personally ?

 

[Toro]

The US economy already is a mixed economy. To portray the US economy as anything else is flat out wrong. The US government accounts for a third of the US economy, close to its highest levels ever. That is below average relative to other similar economies.

This is not a failure of American capitalism. It is a failure of the American financial system, particularly how it is regulated. It is correct to say that rules which were either stripped away, not enforced, changed or blocked contributed to this mess. Financial firms are unstable and should be regulated and well capitalized. Wall Street firms that were not well capitalized nor regulated no longer exist, and those that remain exist only because of government fiat.

However, this is also failure of government policy, since the primary source of the current instability is the Federal Reserve, which is controlled and regulated by the US government, with all of its voting members appointed by the government.

 

[Modbert]

Agreed--a mixed economy heading quickly toward socialism.
Mediocre is so blah. Do you think Americans have a clue what this means to them personally ?

Meanwhile ironically, China is trying a first with a communist government but a capitalist economy.

We live in some interesting times to say the least.

 

[Grismonda]

Meanwhile ironically, China is trying a first with a communist government but a capitalist economy.

We live in some interesting times to say the least.

Robert, China is a communist country....politically, that is... She enjoys the fruits of capitalism by creating "free trade zones". One could reasonably argue China is more socialist than anything else...but the bottom line, is China is freer with trade (at least) and more socialistic than the Soviet Union was.

 

[Kevin_Kennedy]

The financial crisis was incorrectly blamed on the free market, and now we get even more regulation shoved down our throats.

 

[Modbert]

Robert, China is a communist country....politically, that is... She enjoys the fruits of capitalism by creating "free trade zones". One could reasonably argue China is more socialist than anything else...but the bottom line, is China is freer with trade (at least) and more socialistic than the Soviet Union was.

Well I know that China was already a communist country. However in recent years, they have become more of a capitalist economy.

I said it will be interesting to see how it plays out because this is a first in history.

You might want to reread my post and look it over again.

 

[Modbert]

The financial crisis was incorrectly blamed on the free market, and now we get even more regulation shoved down our throats.

Of course, meanwhile the poor/middle class can't get student loans for college but the rich can still go.

In the past eight years, we've seem to taken steps back in many ways 50 years or so.

 

[Grismonda]

Well I know that China was already a communist country. However in recent years, they have become more of a capitalist economy.

I said it will be interesting to see how it plays out because this is a first in history.

You might want to reread my post and look it over again.

China seems to be more capitalist...and you are right, but technically she will be communist and probably for some time. Is she moving in the right direction? Yes, actually China is moving toward capitalism by stopping at socialism. Ironically the USA is moving toward socialism...because the "capitalism and greed" do not mix. Take the greed out of capitalism and you have a fine political structure. Those fat cats in Washington ruined it for all of us. That they are Repbubican or Democrat matters not.

 

[Zoomie1980]

China seems to be more capitalist...and you are right, but technically she will be communist and probably for some time. Is she moving in the right direction? Yes, actually China is moving toward capitalism by stopping at socialism. Ironically the USA is moving toward socialism...because the "capitalism and greed" do not mix. Take the greed out of capitalism and you have a fine political structure. Those fat cats in Washington ruined it for all of us. That they are Repbubican or Democrat matters not.

China is a classic FASCIST state, not communist or capitalist.

 

[mightypeon]

Fascist? Please get a dictionary.
Sinocentric yes, China has been Sinocentric for the last 6000 years or so, but fascist?

China is a pragmatic authoritative regime that adopts exactly the free market laws it considers usefull given its situation.

 

[sparky]

define capitalism here please....

 

[Toro]

The financial crisis was incorrectly blamed on the free market, and now we get even more regulation shoved down our throats.

No, the financial crisis has been correctly blamed on the free market, or at least on market forces.

 

[editec]

It took the combination of:

1. deregulating the banking laws that would have prevented banks from taking risks to begin with by LAW.

2. Stupid policies (promoted by the government) designed to allow poor people who could not afford them NINA loans,

3. Poor people dumb enough to take the risk that the RE market prices would continue to rise

3. Rating agencies lying about the real risks to bond purchasers

4. Iimprudent bankers to buy those risky bonds who, just like the homebuyers, believed that the RE market would never fall.

It took ALL of those elements in place, and all those players making all of those mistakes to make this meltdown happen, folks. ALL of them.

Picking just one of those and saying that is the sole cause of this problem, is about as intelligent as saying that all one needs to have a traffic accident is enough gas..no cars, no drivers, no foolish mistakes, just gas.

 

[xaxeptance449]

It took the combination of:

1. deregulating the banking laws that would have prevented banks from taking risks to begin with by LAW.

2. Stupid policies (promoted by the government) designed to allow poor people who could not afford them NINA loans,

3. Poor people dumb enough to take the risk that the RE market prices would continue to rise

3. Rating agencies lying about the real risks to bond purchasers

4. Iimprudent bankers to buy those risky bonds who, just like the homebuyers, believed that the RE market would never fall.

It took ALL of those elements in place, and all those players making all of those mistakes to make this meltdown happen, folks. ALL of them.

Picking just one of those and saying that is the sole cause of this problem, is about as intelligent as saying that all one needs to have a traffic accident is enough gas..no cars, no drivers, no foolish mistakes, just gas.

It is always easier to parce blame than to actually assign it. It would seem that if you continue on with your train of thought you may yet find a commonality, I believe I have.

 

[NoPartyTies]

Robert, China is a communist country....politically, that is... She enjoys the fruits of capitalism by creating "free trade zones". One could reasonably argue China is more socialist than anything else...but the bottom line, is China is freer with trade (at least) and more socialistic than the Soviet Union was.

China....Oh, yeah...China. That's where my job went.

 

[user_name_guest]

Free Market would have been fine if the players within it didn't exploit it. Now those players are going to be rewarded by the government with trillions of dollars trickling into their pockets. The corporations may go, but surely their assets/wealth are well-protected. That is why you invest into Washington. These players used Washington as a safety net to ensure them that their bad deeds go unpunished. They may cause money to come out of the hands of common folks. But they already are protected from that liability. Free market capitalism was concerned of imperfect information. Government was suppose to provide the insurance that was needed to make a free market function. By using government, they allow these players to ruin the free market function. Basically by giving socialism a chance, we lose our freedom, our opportunity, to become those men in google, to become philantropist like Bill Gates and Oprah Whitfrey. We want the government to put bread and butter in our plates so we would live the opportunities of riches to the top. While the rest of the 95% are controlled. Become dependent. Become a slave to the arms of gov't.

Recent events in the USA indicate that the type of Capitalism practiced there in the last few years has ended. The idea of little or no regulations, that the market will look after the economy, that greed is good and prosperity will trickle down to the poor have all proved to be wrong.

The USA government has nationalizes several companies, forced others to merge and wanting one of its most powerful banks to be propped up by a Communist Chinese sovereign wealth fund.

It has introduce regulations to the banking and insurance companies. It has banned such functions as future trading and now is preparing to take all the debts of these companies to avoid recession.

Surely if this is not a socialist solution it does mean the end of the unrestrained capitalist solution and a movement towards a mixed economy.

 

[Kevin_Kennedy]

No, the financial crisis has been correctly blamed on the free market, or at least on market forces.

Despite the fact that we didn't operate under the free market? How does that work?

 

[dilloduck]

Fascist? Please get a dictionary.
Sinocentric yes, China has been Sinocentric for the last 6000 years or so, but fascist?

China is a pragmatic authoritative regime that adopts exactly the free market laws it considers usefull given its situation.

Right --and shoots CEOs who fuck up.

 

[52ndStreet]

The White male capitalist Pig, is on his way out. Now, these White male Pigs, won't all
become extinct all at once. But eventually , they will be all gone in a few more years.