Friday, January 16, 2009

Are we giving up on capitalism?

BANK OWNED BY AMERICA; FEDS BECOME LARGEST SHAREHOLDER...
Rescue hints at nationalization...

UNPLUGGED: CIRCUIT CITY to liquidate remaining stores...
HERTZ sheds more than 4,000 jobs...
CLEAR CHANNEL plans major restructuring...
CITI SPLIT AFTER POSTING $8B LOSS...
SHARES STAY SICK...
Harsh turn of fortunes for 2 huge banks...
Dem plan repeals big tax break...

7 comments:

Realism said...

This from the link on the first post on your blog with the tag "economy"

"This is a much stronger expansion in a lot of ways," White House spokesman Tony Fratto told The Examiner. "It's much deeper and more measured."

Ron said...

Well I hate to burst your bubble but the last several years proves that pure capitalism isn't working. Corporations WILL NOT police themselves...for one.

Marshal Art said...

Doesn't prove that at all. The financial industry was corrupted by Dem interference. Until then, they had more stringent requirements for loans and such. The auto industry did what it felt like doing and indstead of letting them fail, or do the hard work of fixing their own mistakes, bail outs are provided. When the market is truly allowed to be free, then we can determine what it will do on it's own.

Anonymous said...

neoconservatism privatized the gains, while socializing the losses

it's part of the script

so much for the myth of "free trade"

jhbowden said...

Fannie Mae and Freddie Mac are not examples of pure capitalism.

+ what Marshall said.

Ron said...

you guys moving the goal posts doesn't work a whit except on your choir. Always finding your most hated enemy and then blaming them for everything. Childish and boring. You guys aren't even a challenge anymore. I have nothing to prove to you.
You aren't capitalists Rockefeller is a Capitalist. DuPont is a Capitalist. The old time robber barons were capitalists. A capitalist lives off the profits of their CAPITAL. They have enough money and investments (i.e. "capital") to generate enough return to live on (usually very well). If you work for your pay, you are NOT a capitalist. People seem to think that capitalism just means making a profit. You might believe in the idea of capitalism in the hopes that one day you will be a capitalist, but until your bank account is supporting you – and not the other way around, you aren’t one.It’s a very exclusive club to belong to, but not a political ideology. See ya suckers.

Anonymous said...

ron, that's actually a very succinct way of putting it

i'd always said that the idea of a "middle class" has become a lie, either you wait for your paycheck, or you live off your interest