Savers are operating at a loss when inflation and taxes are considered. Until recently, I was under the impression that capitalism was based on profits, investment to make those profits, and reliance on savings to invest in further ventures to make profits.
Now we find that we are in a debt induced recession, that Europe is a socialist entity mired in a debt recession also. Where is the distintion between capitalism and socialism?
Both camps tout the advantages of their system but both are in debt up to their a$$ and beholden to governments that are incapable of allowing the formation of savings and investment. Please help me to understand the distinction between socialism and capitalism in a global debt system.