Is Capitalism Dead?
By Johnny Roosh
No, not even close.
But it’s pretty beat up this week. And it’s not even it’s own fault.
Capitalists are advised to gird their loins, keep a stiff upper lip, turn the other cheek and brace for impact over the near term.
Especially in the Twin Cities.
Over the next couple of weeks the downtrodden, the liberal media, and any other self-appointed disenfranchised victims with a pen or a microphone are going to come out of the woodwork and point their ignorant editorial finger at the “capitalist fatcats” who are ruining our country. All the while failing to realize whose name is on their meager paychecks or whose enterprise and the philanthropy it made possible, funded the grant or the foundation that put them on the air or puts their drivel on paper.
They’ll blame unfettered capitalism for all our nation’s troubles (giving Global Warming a break for the time being) and cite the real estate meltdown and it’s newly minted (pun intended) cure.
And the alleged scheme by John Petters isn’t helping either. The timing could not have been worse for free-market proponents.
Oh, and they’ll somehow blame George Bush even more.
They’ll forget how the Kennedy’s made their money (which was has since been outlawed by securities regulators among other authorities), and the Carnegie’s, the Gates’, the Rockefeller’s and the rest of the benefactor families that turned capitalism and the American Dream that is it’s upside into the largest charitable foundations in America. Their foundations fund the arts and education; they fight poverty and disease wherever it is found in the world. No doubt it is done more efficiently than any government agency ever could.
Nonetheless, stand by for the knee-jerking.
September 29th, 2008 at 10:40 am
Have you seen the YouTube video of Democrats in 2004, who were on the take from Franny May/Freddie Mac, attacking Republicans who warned of the upcoming huge problem with said entities? Saying the gravy train for the exuctives has to end, and the loans cannot keep going the way they have been.
It shows a point I like to make. Most leading Democrats are economically illiterate.
September 29th, 2008 at 11:04 am
But it’s pretty beat up this week. And it’s not even it own fault. –
BS – it is entirely it’s own fault. J – Capitalists have controlled the debate in this country, and the strings of power, for 28 years, give or take. All the finger-pointing in the world doesn’t make that any less true. They had all the opportunities, got Phill Grams to remove the regulations in the late 90’s, created these things called sub-prime, pushed money upward that had too few good investments.
This is ENTIRELY it’s own fault, capitalism left unsupervised leads to monopoly, and also to catastrophe as the lemmings follow one another over the cliff in search of ever higher returns – off over the cliff of high risk, high reward, but without looking at the risk in reality or seriously.
THEN we get corporate cronies buying off those risk with the public treasury. That ALSO isn’t capitalism strictly – but it is in practice, the co-opting of the government by business has happened since before the gilded age, but continues nearly unabated since 1981.
September 29th, 2008 at 11:13 am
have controlled the debate in this country, and the strings of power, for 28 years, give or take
Not sure if that’s supposed to be a pejorative. Have you ever compared different brands in a store, looking for the lowest price?
Congratulations, welcome to the ranks of the capitalists.
September 29th, 2008 at 11:19 am
penigma said:
“GROUP have controlled the debate in this country, and the strings of power, for NUMBER years”
Do you ever tire of blaming some other party for everything? I am thinking you don’t. It discredits every argument you make.
September 29th, 2008 at 11:54 am
Where is the clown? I would like to here how the Mets did this weekend. What? They chocked again? Milwaukee is in?
September 29th, 2008 at 12:14 pm
The latest groove of the Davos crowd is something called “Progressive Corporatism” It winds industry and government together in a warm embrace. Government gives political goals to industry in return for managing competition. Kinda like Mussolini did in Italy. Bill Gates is pushing it big time.
Back in the 90’s The more pragmatic socialists — people like Tony Blair & Bill Clinton — realized that a government driven economies are wealth destroyers. They couldn’t create enough wealth to fund all the justice it wants to inflict on people. They came up a Third Way, which Blair described using the metaphor of society as a ship. Capitalism worked the oars, politics did the steering.
Progressive Corporatism, in other words.
What the Davos crowd doesn’t know is that the creation of wealth isn’t driven by giant corporations, especially when their competition is “managed”.
September 29th, 2008 at 2:07 pm
Troy,
Let’s see, I’m getting called out for blaming those who deserve it, by someone/a group which lays blame at the feet of anyone and everyone but themselves even when they deserve it.
I’ve taken responsibility and set it on Democrats frequently, the reverse, however is not true – for you, or for Mitch.
JR- one comment (or aside) – The bailout vote failed, I’m ambivilant at best about it. I know a LOT of folks who could lose jobs, but if we actually had TRUE capitalism – or more precisely a capitalism that prevented unwarranted and unwise intrusion into governmental policy – then the purist form would allow these banks and other investment services to fail and with good reason. The counterstroke of course being, the purpose of governmental oversight is to prevent calamity – so while we’d not want government to become the pawn of corporatists it has become, having some insight into the foolishness to which corporate greed will go, is a sound idea. Barring that, simply prevent this sort of interstate and investment banking – which Reagan and Grams overturned, and you don’t need governmental oversight quite so much.
Anyway Troy, if you don’t like the fact that capitalism is getting a healthy dose of reality – too bad, but insidious, near facsistic capitalism is bad for everyone, and only the pawns on the right seem not to get it.
September 29th, 2008 at 3:02 pm
Peev,
You’ve got some reading to do to support your false claim. You might want to do some research the next time you say, “Mitch never did this”, and “Troy never did that”.
It’s on the Internets… you might be able to find it.
September 29th, 2008 at 4:46 pm
This phrase:
“near facsistic capitalism”
illustrates to me that, not only do you not know how to spell ‘fascism’, you do not know what the word ‘fascism’ means.
With that (and others: ‘neocons’ anyone?) in mind, please excuse me if I take your judgment on ‘who’ is to blame for ‘what’ with a measure of salt, especially when you make grand and sweeping statements against any group that does not include you.
September 29th, 2008 at 5:21 pm
How exactly is capitalism getting a dose of reality? Let’s talk about that for a minute.
Please explain.
September 29th, 2008 at 5:54 pm
or more precisely a capitalism that prevented unwarranted and unwise intrusion into governmental policy
I’m sure you meant the other way around, otherwise your assertion doesn’t make any sense to a rational person.
Oh, it’s penigma. Oops. Never mind.
September 29th, 2008 at 8:57 pm
Peev, Blaming the Gramm-Leach-Bliley Act for the current crisis makes about as much sense as blaming car makers for drunk driving fatalities.
September 29th, 2008 at 9:55 pm
Yeah, whats next? Some lawyer trying to accuse a gun manufacturer for a gang shooting?
Oh, wait…
September 30th, 2008 at 4:55 pm
“Capitalists have controlled the debate in this country, and the strings of power, for 28 years,”
God, If only.
“capitalism left unsupervised leads to monopoly, and also to catastrophe”
Really? So you can explain Hong Kong pre-1999 how? And Singapore? Just two big monopolies?
Which capitalist do you suppose required housing loans to people with no jobs, money or credit? Give us some names.