Capitalism did not fail. It had worked for years but people realized they could vote things for themselves and stopped working for it.
When the government only existed to do the things it was told in the constitution to do, defend the country and move the mail, it did very well. Whenever it tries to do other things, it starts siphoning money out of the public realm, which is what kills capitalism.
Addressing comments:
>> When the government only existed to do the things it was told in the constitution to do, defend the country and move the mail, it did very well. Whenever it tries to do other things, it starts siphoning money out of the public realm, which is what kills capitalism.
>>
You need to revisit the last paragraph of my original comment. Govt is not siphoning this year. It is pouring $1Trillion INTO the economy. 5% of GDP being poured in. The result of this is the economy grows 2%. Capitalism eats 3%. Go have a look at the GDP equation in the wiki. Govt spending increases and tax cuts both are stimulative. That’s what a deficit is — especially when the debt incurred is loaned by your central bank from money created by whim.
>>The Federal Reserve is not capitalistic, it’s not a market force and it does not produce anything.
>>
I don’t think you understand where money comes from. There was none in the Garden of Eden. It’s an invention of mankind. It’s created by whim. And it’s how we measure isms. We declare all sorts of morality things to be determined by this substance that comes from nothingness. How can there be some worshiped something capitalistic when you measure it with a substance created from nothing.
How can you want to go to war and kill people because of an ism defined by a substance created from nothing?
>>And when you say that “capitalism” has failed, what system, pray tell, would you hold up as superior?
>>
This isn’t OJ’s trial. I don’t have to go find the real killer. If something is a failure, it doesn’t stop being a failure for lack of an alternative. Early pre Wright airplanes that crashed and killed their pilots were not successes because they were better than other failures.
That was cool stuff about the evolution of economic thought, but improving airplanes in the late 1800s that still crashed and killed their pilots doesn’t make them successes.
The world was saved by Bernanke in 2009. People would have flat out died when ATMs stopped handing out cash in Nairobi or Jakarta. He took action and saved lives, but in so doing he exposed the reality that capitalism had failed. Only creating money in overwhelming quantities kept the wheels turning. The philosophy of capitalism did NOTHING to save those lives.
Consider . . . a young married couple with kids borrow money from a bank. They lose a job and can’t make the payments. Stress builds. The kids witness fights. Divorce evolves. The kids are horrified and can’t understand what’s happening. You might even get a kidnapping or murder thrown in there.
All this happened because a substance created from nothing, which could have had more created from nothing, inflicted all that stress and loss of life demanding they repay something that came from nothing.