Stupid question

[Ann]

This is very popular.

11 reasons America's a new socialist economy
How free market ideology backfired, sabotaging capitalistic democracy

iTulip needs to be more like this.

[medved]

Re: Stupid question

This is very popular.

11 reasons America's a new socialist economy

How free market ideology backfired, sabotaging capitalistic democracy.

iTulip needs to be more like this.

Some observations:

1. America is not a new socialist economy, but an old one. It is still less socialist, than Europe, but getting there.

2. Creation of the FED is an example of the socialist disease. The classic capitalism never existed without the gold standard. No surprises here, central bank is one of the major points of the communist manifesto. Nothing surprising about the banksters supporting it either, they are the ones profiting from it most. For those of you, that never lived in a socialist country, welcome to the *real* socialism: it is much easier to buy politicians, than to compete in a free market.

But, no worries, we still had the "free market"!!

3. The FED did its job by blowing bubble in the 1920s and consequently creating the Great Depression. But of course, that was the problem of the "free market"!! So we got FDR and the Second Bill of Rights (i.e. American Socialist Manifesto), which is, to this day, the credo of the American Socialist Faith. It was then that the GSE's (Government Speculative Enterprises) were created, and the American Dream gradually became American Birthright, or, in my view, rather, American Idol (the real one, not those phony po(o)p stars on TV). This country absolutely worships its real estate, and this worship is a very well organized religion not possible without government manipulation.

But, of course, we, still had the "free market"!!.

4. The big government was, indeed, necessary during WWII. After the war many new reasons were found to grow it even bigger. Whether it was military spending or social programs, it kept growing. In 1971 the last remains of the free market currency system (Bretton Woods Agreement) was abandoned by the great Republican Socialist Richard Nixon. This, and the following "gold rush" was a serious signal sent to the politicans by the *real* free market. It was ignored, and we entered era of the world controlled by the central banks.

But, of course, it was still the "free market"!!.

5. If you listen to the whiny MSM, you will hear, that GW's policy on economy is very bad. If you listen to the right-wing talkradio, you will learn, that his policy is very good. None of them accepts the fact, that economy is none of his $#^%-ing business. He is not the Chairman of Politburo. And even if he was, his power over the economy would be the same as Mr. Brezhnev's, which was exactly zero.

For about 2 decades, (probably, starting from the the crash of 1987, when Maestro Greenspit saved us all), there was no meaningful creative destruction in the American economy. America is not some god forsaken third-world second-rate country. It will not tolerate crashes, bankruptcies, bank defaults and high inflation. We have the most advanced and "free" economy and financial system. Our government will save us again. We will replace Republican Socialists by the Democrat Socialists and fix this "free market" once and for all. We will not have inflation. We will not have deflation. We will have regulation. Everything will be regulated into its proper place. Remember, enterprises created and regulated by the government never fail. Enron and Bear Sterns would never fail as miserably as they did, if they were well regulated. Like Fannie Mae.

[jimmygu3]

Re: Stupid question

5. If you listen to the whiny MSM, you will hear, that GW's policy on economy is very bad. If you listen to the right-wing talkradio, you will learn, that his policy is very good. None of them accepts the fact, that economy is none of his $#^%-ing business. He is not the Chairman of Politburo. And even if he was, his power over the economy would be the same as Mr. Brezhnev's, which was exactly zero.

I would agree that the role of the President in the economy is overestimated by most. However, policy decisions can have major economic impacts. Can you honestly say that the economy would have been the exact same if Al Gore had been president for the last 8 years? We went from a surplus in 2000 (please let's not restart the Social Security solvency debate here) to the greatest deficit in world history in just a few years, thanks to massive tax cuts for the wealthiest and the war in Iraq.

[Spartacus]

Re: Stupid question

It's a government - corporate partnership,
whose benefits go to some private interests, and whose costs are offloaded to "the people"

AFAIK, that's NOT socialism - its "f_____m"

This is very popular.

11 reasons America's a new socialist economy
How free market ideology backfired, sabotaging capitalistic democracy

iTulip needs to be more like this.

Paul's wrong, on multiple counts, even on his first point

Reagan oversaw a huge bailout of the banking system, the petrodollar debacle, wherein several NY banks were insolvent, and accounting rules were bent for decades to let them recapitalize

Derivatives came of age in the Reagan administration

that's just off the top of my head regarding the first point ...


And anyway, why try (in vain) to glorify Reagan or try ( in vain) to whitewash the historical record pertaining to the Reagan years, when criticizing current events? Are current events not bad enough, that you need to compare them to (fictitious) glory days of old?

[*T*]

Re: Stupid question

It's a government - corporate partnership,
whose benefits go to some private interests, and whose costs are offloaded to "the people"

AFAIK, that's NOT socialism - its "f_____m"



Paul's wrong, on multiple counts, even on his first point

Reagan oversaw a huge bailout of the banking system, the petrodollar debacle, wherein several NY banks were insolvent, and accounting rules were bent for decades to let them recapitalize

Derivatives came of age in the Reagan administration

that's just off the top of my head regarding the first point ...

Right. In Europe, socialism is (at least purported to be) for the poor. In the US, apparently, for the rich. Which is corporatism of fascism.

[touchring]

Re: Stupid question

america is socialism for the rich and capitalism for the poor. america is not alone, many countries are embracing this model.