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View Full Version : The Death of American Capitalism and Democracy?



zeus3925
02-23-2010, 02:01 PM
From the pages of the Wall Street Journal, a thought to ponder:

http://www.marketwatch.com/story/death-of-us-capitalism-the-final-10-scenes-2010-02-23

subroc
02-23-2010, 02:42 PM
I read it...

so...

Banks are bad

Wall Street is bad

Derivatives are bad

Derivatives are the cause of our demise

capitolism is bad

Palin and the tea party are bad for possibly opposing obama in 2012

Obama is good and should be reelected in 2012 because he thinks banks are bad too

dnf777
02-23-2010, 02:47 PM
Both capitalism and communism look good on paper. Both will fail if left unchecked, due to one of two human defects.
Communism fails due to laziness. Why work hard is someone else will do it for me? Capitalism fails due to greed and corruption. We've seen both examples in our lifetimes.

I'm sure some will disagree with that last statement, at least in regards to capitalism failing, but when the tax-paying populace must collectively give 800 billion to save the system, its hard not to construe that as failure of the capitalist system, bailed out by a communist solution!

Buzz
02-23-2010, 02:47 PM
Now you're catching on.

But, I don't understand what gambling has to do with capitalism.

subroc
02-23-2010, 03:11 PM
the bailout is a political decision. Not really sure what it has to do with capitalism.

dnf777
02-23-2010, 03:42 PM
the bailout is a political decision. Not really sure what it has to do with capitalism.

You're right, but we were on the brink of total collapse. If the USSR had the resources to bail itself out, it may not have failed either. (by definition, they had been "bailing out" their gov't all along, until they just couldn't anymore)

The decision to bail ourselves out was political, but nonetheless, the system had failed, except for the bailout. And I'm not sure we've turned the final page on our economic woes yet. :(

subroc
02-23-2010, 05:19 PM
The system did not fail. Leadership and political will is failing.

Marvin S
02-23-2010, 05:45 PM
We owned a stock called Clayton Mobile Homes, CMH on the ticker. CMH paid a small dividend & had earnings where other manufacturers in their field were struggling. CMH built mid level Mobile Homes & owned several parks where these homes were installed. It was such a good stock that it fell into the radar of the Robber Barons - Buffett & Munger :(.

The common stock was 55% owned by the Clayton family & the patriarch was getting up there. So the Robber Barons propose a buyout at a lowball price with the stipulation that the Clayton's must vote in favor of a buyout, but they will continue to run the company. So the other 45% of us were screwed.

This was the Robber Barons use of the extate tax law & why they do not want the extate tax going to nothing. (Disclaimer: I don't either, but believe that paying Capital Gains Tax on growth is sufficient) I trust nothing the Robber Barons are in favor of. Remember Buffett supported Obongo!!!!!!!!!!!! :(

Cody Covey
02-24-2010, 12:34 PM
if you think we are a capitalist society as it was meant to be you are wrong. Capitalism checks and balances itself out. But when government regulations don't allow that to happen then the "system fails". When the system is really the government intrusion and it doesn't allow the normal checks and balances to happen. To big to fail is only possible when the government has been propping them up for to long. You think the banks are to big to fail? A couple of the banks go completely under and the smaller banks get their business and the smaller banks prosper and become big businesses. It's not like the big bank collapses and all of a sudden people are going to only bury gold in their back yard and no longer going to deal in cash and credit.

zeus3925
02-24-2010, 02:16 PM
if you think we are a capitalist society as it was meant to be you are wrong. Capitalism checks and balances itself out. But when government regulations don't allow that to happen then the "system fails". When the system is really the government intrusion and it doesn't allow the normal checks and balances to happen. To big to fail is only possible when the government has been propping them up for to long. You think the banks are to big to fail? A couple of the banks go completely under and the smaller banks get their business and the smaller banks prosper and become big businesses. It's not like the big bank collapses and all of a sudden people are going to only bury gold in their back yard and no longer going to deal in cash and credit.

Time magazine states that there are 702 banks on the verge of failing. Way up from last year.