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Capitalism simply isn't working and here are the reasons why

hockbeng

Alfrescian
Loyal
I don't see anything wrong with inequality. It's natures way.

Equality was tried out and it crashed and burned in no time at all.

Almost everyone is barking up the wrong tree.

It's not capitalism that has caused inequality; it was socialism.
It was the invisible hand of the Fiat monetary system, the Central banks all over the world and the fractional banking system working together with the Gov to bail out the rich at the expense of the masses that have led to this current state of affairs.

Everyone I spoke to have no idea what the central bank does; how interest rates are set and how the fiat monetary system together with the fractional banking system works.

This weapon of mass destruction wasn't created by capitalism; it was created by socialists who convinced the masses that bail outs + 0% interest rates + perpetual budget deficits are the answer to poverty
 

winnipegjets

Alfrescian (Inf)
Asset
Almost everyone is barking up the wrong tree.

It's not capitalism that has caused inequality; it was socialism.
It was the invisible hand of the Fiat monetary system, the Central banks all over the world and the fractional banking system working together with the Gov to bail out the rich at the expense of the masses that have led to this current state of affairs.

Everyone I spoke to have no idea what the central bank does; how interest rates are set and how the fiat monetary system together with the fractional banking system works.

This weapon of mass destruction wasn't created by capitalism; it was created by socialists who convinced the masses that bail outs + 0% interest rates + perpetual budget deficits are the answer to poverty

Socialism? Wow lau eh ...you belly belly chim. Waiting to read your book on this.
 

winnipegjets

Alfrescian (Inf)
Asset
Your reply says it all.

It is not capitalism that is the problem. It's ignorance (of how the system works)

You are operating in the looney world if you think the current system is socialism. Right-wing governments don't practise socialism.
 
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yellowarse

Alfrescian (Inf)
Asset
Right-wing governments don't practise socialism.

They don't, not in the original meaning of the term. They practise an unbridled, bastardized kind of capitalism in which 'costs are socialized and profits are privatized'.

Externalities are excluded, unequal exchange of info between capital & labour, monopolization of resources, excessive financial speculation, non-productive rentier economy – these facets of neo-liberal capitalism all serve to solidify class divisions, reduce upward mobility, increase wealth/income inequality, increase destitution, and perhaps most important of all for the survival of the planet – despoiling the environment and ecological balance.
 
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hockbeng

Alfrescian
Loyal
They don't, not in the original meaning of the term. They practise an unbridled, bastardized kind of capitalism in which 'costs are socialized and profits are privatized'.

Externalities are excluded, unequal exchange of info between capital & labour, monopolization of resources, excessive financial speculation, non-productive rentier economy – these facets of neo-liberal capitalism all serve to solidify class divisions, reduce upward mobility, increase wealth/income inequality, increase destitution, and perhaps most important of all for the survival of the planet – despoiling the environment and ecological balance.

If true capitalism was allowed to function, interest rates would have shot through the roof during the bursting of the dotcom and real estate bubble in the past decade.
True capitalism would not have allowed central banks to expand money supply and decrease the cost of capital to zero; which in effect bailed out borrowers and destroyed savers leading to hyperinflation.

Closer to home; just look at what your cpf money can buy you tdy compared to 10 yrs ago; or price of petrol.
 

hockbeng

Alfrescian
Loyal
You are operating the looney world if you think define the current system as socialism. Right-wing governments don't practise socialism.

look at what ben benarke did to interest rates and the the money supply.
I don't care what they call it but it stank to high heaven; unless you were heavily leveraged.
 

winnipegjets

Alfrescian (Inf)
Asset
look at what ben benarke did to interest rates and the the money supply.
I don't care what they call it but it stank to high heaven; unless you were heavily leveraged.

That's not socialism. He did it because it is capitalism, not because of socialism.

That's why the rich gets richer, those who have no capital will become poorer. That's capitalism.
 

hockbeng

Alfrescian
Loyal
That's not socialism. He did it because it is capitalism, not because of socialism.

That's why the rich gets richer, those who have no capital will become poorer. That's capitalism.

Dishing out cheap money with zero % interest to selected businesses is not capitalism.

Can we as individuals approach the FED to borrow at zero % ?
 

yellowarse

Alfrescian (Inf)
Asset
Dishing out cheap money with zero % interest to selected businesses is not capitalism.

It is fascist capitalism: protecting big corporate interests (too big to fail), powerful lobbies and political cronies. Taxpayers' money is used to bail them out or reduce the cost of capital (socializing the costs)but profits go to these powerful vested groups only, never to the people.

Fascism:

<dt style="color: rgb(0, 0, 0); font-family: Times; font-size: medium; ">[SIZE=+1]9. Corporate Power is Protected - The industrial and business aristocracy of a fascist nation often are the ones who put the government leaders into power, creating a mutually beneficial business/government relationship and power elite.

13. Rampant Cronyism and Corruption - Fascist regimes almost always are governed by groups of friends and associates who appoint each other to government positions and use governmental power and authority to protect their friends from accountability. It is not uncommon in fascist regimes for national resources and even treasures to be appropriated or even outright stolen by government leaders.[/SIZE]</dt>
 

neddy

Alfrescian (Inf)
Asset
Dishing out cheap money with zero % interest to selected businesses is not capitalism.

Can we as individuals approach the FED to borrow at zero % ?

It is socialism for the elite.

Numerous research have shown that only the 10% are getting the bulk of the new printed money which only carries 0 to 0.25% interest debt on them.
 

hockbeng

Alfrescian
Loyal
It is socialism for the elite.

Numerous research have shown that only the 10% are getting the bulk of the new printed money which only carries 0 to 0.25% interest debt on them.

At zero percent; I'll borrow as much as I can.
 

neddy

Alfrescian (Inf)
Asset
im in australia right now,land of marxist communist socialist utopian society and its going pretty great.

You are here in Australia because the Greens make sure there are still greenery around and the leftists make sure that the corporate do not reintroduce slavery like what they are doing in America.

Anyone want an internship with the UK branch of my company? It is not working for free, it is working for experience. :biggrin:
 

neddy

Alfrescian (Inf)
Asset
And if you look at the issue in a local context you can see for yourself that the majority are very happy as queues for the latest smart phones are always larger than the attendees at anti PAP events.

It is called the Handphone Protest because the people do not actually look happy after buying the latest handphones.
They just provide more distraction from the PAP masters by being slaves to machines.

Happy people will be out fishing or filling up computer memory by posting messages on this forum.
 

neddy

Alfrescian (Inf)
Asset
As usual, you fail to see the real issues, or more likely, chose not to see. Instead you come up with motherhood statements and cliches.

Capitalism has now been identified as the creator of social ills because it was left festering for so long that the rich and powerful had used it to create opportunities only to make themselves richer and more powerful. At the same time, depriving those below any opportunities to climb up the ladder. It is an artificial inequality that is being created. There's nothing natural about it.

Capitalism was the right way to create equal opportunities a century back but it turned into a Frankenstein as governments all over the world refused to intervene even though the negative consequences were plain to see. Often citing the old adage "to leave to market forces" as an excuse, governments do not intervene because they themselves are benefiting from capitalism with vested interests in state own enterprises (as the case in Singapore) or are stakeholders in one way or another.

So do not try to fool the less discerning here with your ad nauseam comments.

Marx’s theory is right, as capitalism matured, there would be an increasing concentration of capital in the hands of fewer and fewer people. As a result, the working masses would be impoverished, demand for goods and services would collapse and capitalism would be rendered unsustainable.
 

neddy

Alfrescian (Inf)
Asset
Capitalism simply isn't working and here are the reasons why

It is a startling thesis and one extraordinarily unwelcome to those who think capitalism and inequality need each other. Capitalism requires inequality of wealth, runs this right-of-centre argument, to stimulate risk-taking and effort; governments trying to stem it with taxes on wealth, capital, inheritance and property kill the goose that lays the golden egg. Thus Messrs Cameron and Osborne faithfully champion lower inheritance taxes, refuse to reshape the council tax and boast about the business-friendly low capital gains and corporation tax regime.

Piketty deploys 200 years of data to prove them wrong. Capital, he argues, is blind. Once its returns – investing in anything from buy-to-let property to a new car factory – exceed the real growth of wages and output, as historically they always have done (excepting a few periods such as 1910 to 1950), then inevitably the stock of capital will rise disproportionately faster within the overall pattern of output. Wealth inequality rises exponentially.

...

The solutions – a top income tax rate of up to 80%, effective inheritance tax, proper property taxes and, because the issue is global, a global wealth tax – are currently inconceivable.

But as Piketty says, the task of economists is to make them more conceivable. Capital certainly does that.

Ok. Another Michael Moore. He is not always right.

Eg mistaking Corporate evil for capitalism. But misuse of capitalism as a vehicle to take away the middle class and create a plutonomy.
movie_capitalism-a-love-story.jpg

<iframe width="560" height="315" src="//www.youtube.com/embed/o0Ndin-Gcjs?rel=0" frameborder="0" allowfullscreen=""></iframe>
 

rushifa666

Alfrescian
Loyal
Bailing out the banks goes against the boom and bust model of capitalism. Sheer stupidity to even uphold too bug to fail. And capitalism will fail here in singapore because only 30% of the businesses are local-run. The rest of the money will go overseas. What's the point of GDP when you are leaking money?
 

Devil Within

Alfrescian (Inf)
Asset
Michael Moore is a clown. He don't even know what Capitalism is and made a film about what he don't understand.

He is also a fucking hypocrite and a liar.

<iframe width="420" height="315" src="//www.youtube.com/embed/wXWoU0YqsU0" frameborder="0" allowfullscreen></iframe>

<iframe width="420" height="315" src="//www.youtube.com/embed/hhCxk9AzrDY" frameborder="0" allowfullscreen></iframe>

<iframe width="420" height="315" src="//www.youtube.com/embed/HXnn6SMj3O4" frameborder="0" allowfullscreen></iframe>

<iframe width="560" height="315" src="//www.youtube.com/embed/d2knH8obnF4" frameborder="0" allowfullscreen></iframe>

<iframe width="560" height="315" src="//www.youtube.com/embed/KOA5qK5fA78" frameborder="0" allowfullscreen></iframe>
 
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