Is US capitalism a house of cards ?

Discussion in 'Economics' started by Kicking, Jul 27, 2007.

  1. Is US capitalism a house of cards ?

    No it's been the engine of growth for the world since WWII and it has proved to be the most succesful economic system and it will continue to do so.
    (Kudlow in the background yelling "Keep America Grrrreat !")

    Yes, it's based on fiat money, it's addicted
    to the Fed's irresponsible, destructive and
    income disparity-generating policies with the help of the government's lies.
    The financial markets that underpin it's economy do not value assets properly creating the illusion of wealth or creating wealth for a privileged fews sometimes when little underlying value is actually created , acting thus like a Ponzi scheme. Conclusion the system serves essentially the wealthy class, while the rest bears the brunt of
    the inherent economic dislocations caused by excesses.

  2. Our founding fathers warned us about central banks.
  3. Seems more ET members would rather chat about Maria Bartiromo.
  4. Daal


    yeah guys. alex jones for president
  5. This is hardly an objective kick-off to a "Debate"

    Attaching all the hysteria like:

    govt lies, illusion, Fed's irresponsible, destructive....

    makes this a thread worth ignoring, instead.

    And as for income disparity-generating policies, perhaps you would like the policies of CHad or Ghana, where almost everyone is poor and a very few are rich. After all, what use is the middle class and wealthy?
  6. piezoe


    Is US capitalism a house of cards ?

    The answer is, of course, no.
    I have strong opinions about capitalism. I believe that to the extent free competition can be maintained that capitalism is the best system of enterprise (US electronics technology, wireless communication, etc.) , but to the extent that cartels and monopolies are allowed to exist or even sponsored by the government (eg., US medical care delivery) capitalism is one of the worst systems of enterprise.

    A very few functions that are necessary to modern developed countries are not well suited to free competition, meaning that if they are left entirely to the for-profit corporate sector to do as the wish, the result will not be good. These functions are not well suited to capitalism. (Please note, i did NOT say, nor imply, that the US medical care delivery was not well- suited to competitive capitalism. I believe it is superbly suited, but unfortunately the required element of competition is missing from the sector in the US.)
  7. DHS


    Abolish the Federal Reserve! :)

  8. Cesko


    It will always amaze me how little common sense some people have. First he questions the viability of "capitalism" then he continues with critique which has much more to do with government, bureaucratic class, etc. and almost nothing with capitalism as such. Ponzi scheme of any kind, fiat money has nothing to do with capitalism!!!!!!!!
  9. empee


    everyone knows current America is a ponzi scheme. The only surprise will be a) when people acknowledge it b) that it persisted as long as it did.
    #10     Jul 27, 2007