What we mostly have now is not "capitalism" - but cronyism at best, and a vast Ponzi scheme at worst.
Please don't misunderstand me. The pope and his Marxists are as worse, wanting to skim off that which they can at the point of a gun. Communism is one of humanity's worse evils.
Capitalism used to mean that actual capital was put at actual risk for actual production of actual goods to be sold at actual prices in a truly free market.
We don't have that today, and you and I know it.
In Hitler's Germany, cronyism was made into an art form. Only those businesses favored by the fascists were given the best access to money and contracts. In Obama's fascism (and the corruption and manipulation of our global markets) I see very little difference.
Central Bank imaginary money is still running through the veins of our markets, which are now in with-drawl like an addict in the streets.
The term "investor" used to have such noble meaning: a person who actually invested in real things that employed real people and made something of real value.
While we still have some of that, it is less and less every day. The economic patient is sick with cancer from the rest the muck that is out there, and they make Bernie Madoff look like a piker.
I love how people think themselves somehow being "Free Market" purveyors of all that is good, when in reality the dirty dealings of our Financial Las Vegas look more like a dark brothel waiting room.
There is going to be a reckoning someday.
Funny, I was reviewing my entire investment portfolio Friday with my financial planner, and every stock I'm invested in produces real things, employs real people, and possesses real assets. I have no idea what you're talking about.
There is going to be a reckoning someday.
Yup, just like in 1929, 1987, 1997, 2001, 2008......same as it ever was. Long term, however, is that the market will continue to rise afterwards just like it has throughout history.