The financial world mourns the loss of capitalism. While the death appears to be due to natural causes, sources close to the deceased say the death may have been the result of foul play. Officials claim that since no one really noticed the demise, an investigation is not likely at this time. In lieu of flowers, mandatory “donations” will be made to the US Treasury.
The twin brothers of different mothers are now both dead.
Communism, on paper a great philosophy and concept, (just like, and similar to, Christianity), crashed because those running the show chose to cater only to a small upper crust of the population. The people became disposable. State bureaucracy, corruption, oppression and centralizing power became the norm. The achievements included free education, pensions and health care.
Capitalism, another great concept on paper, has basically done the same thing, dispensing enough crumbs, but with nicer malls, fancier cars, and no health care. Capitalism keeps the people quiet, while feeding its own oligarchy with wealth and undeserved rewards beyond human comprehension. “Greed is God” should replace “In God We Trust” on our currency.
It would be a far more honest and truer motto, while still pleasing the Bible Thumpers.
When the house of cards came tumbling down it spared no one, except the chosen few. It did not matter if you were gay or straight, black or white, male or female, Republican or Democrat, religious or not, this tsunami cleared the deck.The core of capitalism was supposed to be the free market. In order for free markets to work and prosper they should be left to do what free markets do, without interference.
Capitalism is no different than the animal kingdom. The most fit, ingenious and capable survive, and those that are not, perish.
The system constantly balances and rebalances itself automatically. Darwinian evolution. On the other hand our version was steered and rigged by powerful interests, the welcome mat for corruption and greed was out in plain sight by the front door, millions of deluded people happily crashed the party until the facade was exposed as a gigantic Ponzi scheme.
Granted we are not nearly as smart as we think we are, when we try to breed a better African honey bee, or improve a local eco-system by introducing plants and animals that are not indigenous to the area, unexpected things happen. Bad things happen in fact, specifically, “..a crunch in the credit markets triggered by mounting defaults on a hitherto obscure species of housing loan known as subprime mortgages,” as described by Vanity Fair in its article “Wall Street Lays Another Egg,” in December of 2008.
CAPITALISM (1473-2009), An Indictment
And so it goes for the free market system. “Bailing out” banks, then using the money to buy other banks, and feathering their nests, rather than making more credit available to the public was, well, unexpected. Or was it? I’m very cynical when Big Business, Politicians, Government agencies are involved. When we are governed by a Parliament of Whores there are no surprises. A prostitute might satisfy a sexual urge but don’t expect a kiss.
The Treasury has thus far spent over 700 billion (who’s counting) in bailout money, yet there is no accountability, as to exactly who benefited by it, or where and how it was spent. Should we really bail out an auto industry producing lower quality, low mileage, needlessly oversized, higher cost cars that the competition easily beats? What do we accomplish by helping the weaker animal survive a little longer, just to die another day at much higher cost to us all? Why bailout banks and financial institutions who have literally stolen money from our pockets to finance the lavish lifestyles of their own cronies? That’s Socialism, for the rich. Why did we take it sitting down? Have we become just a bunch of brainwashed couch potatoes?
Personally I would love to see them all go down in flames.
Bailouts, stimulus packages, spending, printing green bucks might give the economy a lift in the short run. Still, the government will have to borrow lots and lots of money by issuing more treasury obligations. To compete with these loans, (billions are owed to Communist China and our “good friends”, the Saudis), interest rates will surge to entice lenders. When interest rates go up, mortgages rates go up, house sales go down, and borrowing money is more costly. The trillions we are spending will have to be paid back, sooner rather than later, inflation will take off, and no matter what the Tea Baggers do or say, in their racially tinged madness, taxes will skyrocket. Or, we can do as Nero did, and let Rome burn down.
Now all the talk is about “reforms” and “overhauls.” Having witnessed our Congress’ work (?) for the last 30 years. I’m sure both Republicans and Democrats will design enough loopholes and backdoors in the “new rules” to allow their benefactors, friends and pimps to continue raping the American people, unchecked and unpunished. Then they’ll be going rogue and tour the talk show circuits to promote their new books.
This mess started because the government mandated that banks and Fannie, Freddie & Ginnie, make home loans to people who could not afford them. Many let themselves be caught in the delusion and feeding frenzy.
Perhaps achieving the American dream is something that is earned, not just given.
The time has come to take a stand against concentrated financial power just as Teddy Roosevelt (a Republican no less) took a stand, a century ago, against concentrated industrial power.
Unfettered corporate wealth and its influence on politics must be curbed.
Oligarchies weaken democracy and distort competition. The current struggle is between powerful banking interests and whatever is left of our shaky democracy.
Do we really care or should we continue to play the fiddle?
I can already see Charlie Daniels as Nero in the redundant History Channel adaptation.