Ron Paul: Capitalism is Dead

[Kevin_Kennedy]

[youtube]jw3PfUUDmyM[/youtube]

 

[editec]

Capitalism is alive and well whenever having the capital means the powerful will win every battle.

When capital isn't enough, then we find we have (as in live in) something else....like NOW for example.

 

[52ndStreet]

Not dead, just on a real serious death bed situation in a slight Coma, still alive though.The Economic
doctors, can still save the patient, with a cash Blood and guts tranfusion of about 50 Trillion U.S. Dollars.
Stay tuned for more reports.

 

[Kevin_Kennedy]

Not dead, just on a real serious death bed situation in a slight Coma, still alive though.The Economic
doctors, can still save the patient, with a cash Blood and guts tranfusion of about 50 Trillion U.S. Dollars.
Stay tuned for more reports.

Spending and inflating will not save the economy, it will only make things worse.

 

[AssHatZombie]

We need massive protectionism to restore the ability of the consumer.

 

[Kevin_Kennedy]

We need massive protectionism to restore the ability of the consumer.

That's exactly what we don't need.

 

[Paulie]

protectionism to restore the ability of the consumer? You're joking, right?

How do tariffs help the consumer? When we're all forced to buy crappy American products because their higher quality foreign counterparts are now too expensive, how does the consumer win?

 

[mash107]

By paying 10x more for wheat, we're really doing the american economy a great service, duh!

I love how protectionists wish to do the same harm to their country that their bitter enemies wish. Imagine if you were Iranian, and you had protectionists in your country clamoring for a trade barrier, the U.S. trade embargo would be the best thing ever, right? Sadly, it only causes harm when you disturb trade.

 

[auditor0007]

Not dead, just on a real serious death bed situation in a slight Coma, still alive though.The Economic
doctors, can still save the patient, with a cash Blood and guts tranfusion of about 50 Trillion U.S. Dollars.
Stay tuned for more reports.

Spending and inflating will not save the economy, it will only make things worse.

No it won't. The economy must reset and then real savings must begin before we will see a true turnaround. The problem I have with true capitalism is that all too often it is only concerned with immediate profits. We need to find promote long term financial health for these companies while maintaining their independence from too much regulation. It's not an easy task.

 

[editec]

This nation became great under protectionism, folks.

You can wriggle all you want and smoot hartley at me till you're blue in the face, but facts are stubborn things.

Free trade has been disasterous for this nation overall.

Some samll percentage of us benefit tremendously, of course, while the rest of the nation's people including their state federal and local governments are going bankrupt because of it.

 

[auditor0007]

This nation became great under protectionism, folks.

You can wriggle all you want and smoot hartley at me till you're blue in the face, but facts are stubborn things.

Free trade has been disasterous for this nation overall.

Some samll percentage of us benefit tremendously, of course, while the rest of the nation's people including their state federal and local governments are going bankrupt because of it.

There is one big difference Edit; at that time the rest of the world wasn't breathing down our necks with the capbability of outproducing us. Now we are fighting just to remain competetive. Protectionism at this point will not make us stronger; it will put us behind the rest of the world. The further this is projected out, the more true it becomes.

 

[wimpy77]

protectionism is the last thing we need, like nationalizing the banking system.

 

[neurosport]

protectionism, homeland security - those are pretty words.

how about Fascism ? does that sound good ?

protectionism only makes sense for military purposes. it would be a bad idea to depend on something vital from another nation. but Escalade SUV is not vital.

everything we lose on protectionism should be counted as military budget. for example if there is a 20% tax on an import luxury cars ( just made the number up as an example ) then i can assume that every domestic luxury car is 20% overpriced and all the difference that is being paid is military budget.

first support our troops now support our crappy cars.

 

[truthsaga]

Free markets and Capitalism never had a fair chance with the artificially lowered interest rates causing the boom / bust effect with our markets. Not to mention the over regulation, austrian economics all the way!

 

[Indiana Oracle]

Some of the foot soldiers for ideoglogy contributing to this string need to do some studying. A safe starting point might be the opposite of what one was 'taught' in college. Comparative economics is hardly taught anymore or is a misnomer for what is being taught.

Not trying to be offensive here, but protectionism in this day and age is crazy.

 

[eots]

[ame=http://www.youtube.com/watch?v=_VstTwFxNKk]YouTube - American propaganda - Capitalism (1948)[/ame]

 

[Skull Pilot]

Not dead, just on a real serious death bed situation in a slight Coma, still alive though.The Economic
doctors, can still save the patient, with a cash Blood and guts tranfusion of about 50 Trillion U.S. Dollars.
Stay tuned for more reports.

Spending and inflating will not save the economy, it will only make things worse.

No it won't. The economy must reset and then real savings must begin before we will see a true turnaround. The problem I have with true capitalism is that all too often it is only concerned with immediate profits. We need to find promote long term financial health for these companies while maintaining their independence from too much regulation. It's not an easy task.

You didn't listen to Paul did you? He said, capitalism is not what we have been practicing. In true capitalism, the capital comes from savings not leverage and credit.

And yes the economy must reset, but it must reset at a lower level not one that is artificially buoyed up by more of the same easy credit and spending that was a root cause of the mess.

Frugality Forged in Today's Recession Has Potential to Outlast It - WSJ.com

With their jobs less secure, their houses worth less and their stock-market portfolios shrunken, Americans are saving more now. But will they still be thrifty when the recession ends?

No one will know for sure for years, but there's good reason to believe Americans will be saving more in the next decade than they did in the last one. "It's hard to believe we're ever going back to the easy credit and free spending of the last 10 years," said economist Richard Berner of Morgan Stanley. He predicts consumer spending will grow at an inflation-adjusted 2% to 2.5% annual rate over the next several years, compared with 3.5% in the decade ended in 2007.

If this current recession proves anything it is that we must save more and use credit less. If everyone followed the simple rule of saving at least 10% of their gross income, future economic bubbles and busts will not cause the havoc they do.

I propose we go even further. Do not spend a dime on anything that is not an absolute necessity until one year's gross income is in the bank, or in a very conservative investment portfolio. Once done, 20% of gross income should be saved expressly for retirement.

Don't worry about the economy, worry about your own economics. Yes there will be bad news for retailers and others as we move away from blind consumerism to a more frugal lifestyle but the market will adjust and will move to find ways to serve the public by actually catering to the new mind set.

If we as individuals are solvent, the economy will be healthy.

 

[neurosport]

people remember what happened to THEM

they don't "remember" what happened to their parents etc

whoever is old enough to understand what is going on right now will learn his lessons about stuff like sub-prime mortgages and restrain himself accordingly probably until he's dead

BUT !

those who are maybe 10 years old now once they get old enough to have credit cards etc they will do exactly what we've been doing and we won't be able to convince them to be reasonable

i think history repeats itself with a certain definite timing pattern defined by how long it takes for people to die and for their knowledge to die with them. i think it takes something like 30 years after a preventable catastrophe until we're "ready" to do it all over again !

 

[editec]

protectionism to restore the ability of the consumer? You're joking, right?

How do tariffs help the consumer? When we're all forced to buy crappy American products because their higher quality foreign counterparts are now too expensive, how does the consumer win?

The consumer?

We're not consumer of the United States, we're CITIZENS of the United States.

Get your priorites straight.

 

[editec]

Some of the foot soldiers for ideoglogy contributing to this string need to do some studying. A safe starting point might be the opposite of what one was 'taught' in college. Comparative economics is hardly taught anymore or is a misnomer for what is being taught.

Not trying to be offensive here, but protectionism in this day and age is crazy.

Yet every trading (so-called partner) we trade with PROTECTS their economies, while we allow them to screw the American industries and workers.

Wake up and smell the TRADE IMBALANCE, IO.

Oh, BTW...as to comparitive advantage?

Perhaps you really ought to read ADAM SMITH's Wealth of Nations before you start telling us that he was an advocate of FREE TRADE.

He most definitely was NOT advocating what this nation is currently doing.