Capitalism is NOT Democratic: Democracy is NOT Capitalist

[georgephillip]

In other words. Capitalism really is an ideology. I'm sure @Deplorable Yankee will thank you for educating him after he gets up off the floor.

I think capitalism has become a religion in America, so I suspect very few conservatives on this board are willing to consider any possible economic surrogates:

 

[georgephillip]

Private banks did it until 1914

What changed at that time?

History of U.S. Money Creation - AFJM

"Economic booms and busts prevailed throughout the eighteenth and nineteenth centuries. This eventually prompted a study of the U.S. money and banking systems, which resulted in the passage of the Federal Reserve Act in 1913.

"Rather than address the root causes of the instability, this legislation established the Federal Reserve System as a privately owned central bank with twelve regional banks serving several thousand member banks, also privately owned."

 

[Soupnazi630]

I think capitalism has become a religion in America, so I suspect very few conservatives on this board are willing to consider any possible economic surrogates:

It is not a religion it is simple historic fact that it works best and your surrogates always fail

 

[bripat9643]

Even after precipitating the biggest economic downturn since the Great Depression, finance capitalism is just as corrupt as it has ever been:
View attachment 524269
"On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) became the law of the United States.

"Its promise to Americans was that it would reform the corrupt practices on Wall Street that had led to the worst financial collapse in 2008 since the Great Depression and the largest taxpayer bailout of Wall Street in history.

But here we are, 11 years later, with every one of those corrupt practices in full display at the Wall Street mega banks today.

"Losses from wild derivative bets check.

"Trading for the house (proprietary trading), check.

"Secret bailouts from the Fed, check.

"Credit Default swaps, check.

"The continuance of the private justice system on Wall Street, check.

"Banks paying rating agencies for ratings, check.

"Banks giving insanely leveraged loans to hedge funds, check...."

More than a Decade after the Volcker Rule Purported to Outlaw It, JPMorgan Chase Still Owns a Hedge Fund

"The Dodd-Frank Act was passed with President Obama, a Democrat, in the White House and Democrats in control of both the House and Senate. President Biden, a Democrat, now occupies the Oval Office.

"Democrats are once again in control of the House and Senate.

"Yes, there is much on their plate in the middle of a pandemic.

"But there will be a lot worse on their plate if there is another financial panic on Wall Street. It’s long past the time to clean up this toxic mess that threatens the financial stability of the United States and, thus, the national security of the nation"

What the fuck is "finance capitalism?" That certainly isn't an economic term.

 

[bripat9643]

What changed at that time?

History of U.S. Money Creation - AFJM

"Economic booms and busts prevailed throughout the eighteenth and nineteenth centuries. This eventually prompted a study of the U.S. money and banking systems, which resulted in the passage of the Federal Reserve Act in 1913.

"Rather than address the root causes of the instability, this legislation established the Federal Reserve System as a privately owned central bank with twelve regional banks serving several thousand member banks, also privately owned."

What is your point? Credit manipulation by the Federal Reserve is what caused the banking panic in 1929, Nimrod.

 

[bripat9643]

I think capitalism has become a religion in America, so I suspect very few conservatives on this board are willing to consider any possible economic surrogates:

Do you believe the law of gravity can change simply by having Congress pass a law against it?

 

[Toddsterpatriot]

What changed at that time?

History of U.S. Money Creation - AFJM

"Economic booms and busts prevailed throughout the eighteenth and nineteenth centuries. This eventually prompted a study of the U.S. money and banking systems, which resulted in the passage of the Federal Reserve Act in 1913.

"Rather than address the root causes of the instability, this legislation established the Federal Reserve System as a privately owned central bank with twelve regional banks serving several thousand member banks, also privately owned."

1. Require Congress to exercise its Constitutional power to be the sole creator of all U.S. money, issued debt-free, and to establish a transparent and independent public monetary authority to determine the amount of new money the Treasury will disperse under authority of Congress.

Money isn't issued debt free? Do you pay interest on your FRNs?


2. End the privilege of commercial banks to create and issue what we use as money.

Create by lending? LOL!

3. Transfer ownership of the 12 Federal Reserve Banks, and all remaining operations of the Federal Reserve System, to the U.S. Treasury.

The US government doesn't own the Fed?

 

[HappyJoy]

What the fuck is "finance capitalism?" That certainly isn't an economic term.

Why not...I dunno' , google shit before you post.

 

[bripat9643]

Why not...I dunno' , google shit before you post.

You google it, asshole. I'm not the one who used the term.

 

[HappyJoy]

You google it, asshole. I'm not the one who used the term.

I'm not the one who doesn't know what it means.

 

[Dragonlady]

Capitalism is democratic. Each share you own in a company allows you 1 vote per share for who sits on the board of directors.

Capitalism has nothing to do with shareholdings. That’s corporate structure.

Capitalism is simply an economic system where the means of production is private owned and operated for profit.

 

[georgephillip]

During that period the United States economy grew to be the largest and wealthiest on Earth.

What's "mixed" about it?

Slavery.
Genocide.
Jim Crow
Trump

The American pipe bomb

 

[bripat9643]

Slavery.
Genocide.
Jim Crow
Trump

The American pipe bomb

How are private banks responsible for slavery, genocide or segregation?

BTW, dumbass, segregation and Jim Crow are the same thing.

 

[bripat9643]

I'm not the one who doesn't know what it means.

Yes you are, dumbass. Why did you tell me to google it?

 

[georgephillip]

So who ever can produce the best lies, one liners, and scream the loudest & keep us divided with party favorites who have less and less knowledge of the job their sent to do; that's who wins?

And they do their best (worst?) work at times of crisis.
Fifty years ago today the "Nixon Shock" put an end to the global economic system that had ruled since the end of WWII.
Capitalism has crashed twice in this century prior to the arrival of Covid-19, and it appears we are very close to a corresponding "Biden Shock."
If so, who wins?

 

[Soupnazi630]

And they do their best (worst?) work at times of crisis.
Fifty years ago today the "Nixon Shock" put an end to the global economic system that had ruled since the end of WWII.
Capitalism has crashed twice in this century prior to the arrival of Covid-19, and it appears we are very close to a corresponding "Biden Shock."
If so, who wins?

Capitalism has never crashed. Even the great depression was not a crash of capitalism.

On the other hand collectivist systems are by definition a crash of civilization overall

 

[HappyJoy]

Yes you are, dumbass. Why did you tell me to google it?

Because it's a term you've never heard before so you just go ahead and assume it must not mean anything. Just keep building that reputation of being the biggest moron on the board.

 

[bripat9643]

Because it's a term you've never heard before so you just go ahead and assume it must not mean anything. Just keep building that reputation of being the biggest moron on the board.

Wrong. You told me to google it beecause you're a dumbass who expects other people to do your work for you.

 

[HappyJoy]

Wrong. You told me to google it beecause you're a dumbass who expects other people to do your work for you.

No, the googling was for your benefit. I'm just saying, you see a phrase you're unfamiliar with, sometimes (actually always) it's best to just do a little research on the side before admitting you don't know what you're talking about by claiming something doesn't exist just because it's new to you.

 

[Turtlesoup]

Capitalism is a criminal enterprise that transforms democracies into oligarchies. It's not hard to guess which political economy brain-dead rat shit like you prefer.

https://projects.iq.harvard.edu/fil...-_is_capitalism_compatible_with_democracy.pdf

"How deeply seated are the incompatibilities of 'varieties of capitalism' with different varieties of democracy?

"To what extent has capitalism, in its different varieties, become a challenge for democracy and its normative standards?

"In our approach capitalism is the challenger, the independent variable, while democracy functions as the dependent variable.

"Yet, this independent variable is in a constant process of change, conditioned by political, social and economic influences."

I'm pretty sure that CAPITALISM has always preceded any and all democracies. Without capitalism, there is no democracies.