Forum Post: Capitalism should be Abolished
Posted 13 years ago on Oct. 26, 2011, 3:41 a.m. EST by aliahmed
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I think that the main reason for the present global financial crisis is capitalism. The ordinary taxpayer worldwide should protest peacefully against capitalism and campaign for a modified socialism.
We should campaign for the governments worldwide to nationalize the banks, the utility supply companies and the fuel and gas supply companies which are making billions of dollars in profit at the expense of the ordinary taxpayer.
I think the main reason of the present global crisis is from the Federal Reserve lowering interest rates to 1% to stir "growth" (which really was just inflating a credit boom -creating money out of thin air) under Greenspan to stop the tech bubble collapse, which inflated the housing bubble and funded govt expenses after 9/11. When the housing bubble burst, Bernanke lowered rates again to 0.25% to prop up the banking sector, and currently the US Treasuries, when all the credit they issued went bad.
This is NOT capitalism. This is a centrally planned economy controlled through the monetary system by bankers.
Govt intervention cripples the economy either by directing capital to industries that the market isn't demanding or by creating barriers of entry into the marketplace for entrepreneurs.
Free market capitalism lacks all govt intervention, therefore our current system (for the last 40 years min. and really 100 years) is not a free market capitalist system.
do communist represent the 99%? no!!!!! '
"nationalize the banks, the utility supply companies and the fuel and gas supply companies"
hello... there is a place...and it is called Venezuela. you are welcome to move there.
I will agree with you ,but only when you explain the difference between CAPITALISM and TRADE. The fundamental problem is the creation of money as debt to future generations. The fraudulent banking IS the problem NOT capitalism.
Er ... why don't you move to Cuba or North Korea?
Um. No. I grew up in Bulgaria and immigrated in 1991, I will never live in a socialist society again. I will fight for freedom to the bitter end even if it means losing my life just so my children do not have to witness it. Capitalism or democracy are not the problem. The people manipulating the system are. Abolish the corruption and let the system function as it was designed to do.
That's a wonderful idea.
I mean, it's terrible in practice, but it sounds wonderful, if you've never read any history. The 20th century is a bloody graveyard of failed socialist regimes, leaving financial ruin and spiritual poverty in their wake. Collectivism killed the Soviet Union and millions of Soviet citizens. It's killing Europe, which will soon collapse into debt, poverty and enfeeblement.
Except for the sphere of capitalism, the last 100 years was a disaster. We've produced wealth, medicine, science and freedom, more than all of human history for all the centuries before it.
Has it been fair and equitable? Of course not. There is great inequality in our system. The downside to a competitive market is that there are winners and losers, up cycles and down cycles. At times, it can be terribly unfair.
Under socialism, the downside is that when things get bad, people die by the millions. Death is a great equalizer, but that is probably a small condolence when you're on your knees with an AK at your back.
Sorry, but abolishing capitalism is like abolishing civilization itself. It's cruel and wrong and unfair, but even in it's currently malfunctioning state, it's a damn sight better than what socialism invariably turns into. Not what you dream socialism could be, but what it really is. Tyranny that starts off in the name of helping the little guy, and ends up cannibalizing them.
The best way to actually help the ordinary taxpayer is to cut out the corruption between big money and big government. Stay on that path, and you'll find support enough to do it. Push starry eyed collectivist dreams, and you'll find even the people who get a raw deal under capitalism will oppose you. They'll oppose you because the reality of socialism is that it's not what it's advertized to be. It's a sure fire path to endless poverty and true oppression.