Posted 10 years ago on Sept. 7, 2011, 11:13 a.m. EST by cannuck
This content is user submitted and not an official statement
I was fortunate enough to stumble onto a story from a link that led me to this site - for which I hope I and all will be eternally grateful.
In reading through the pages of comments and posts, I can see the search for a common theme, and I believe I can give that to you (and the world). What is very, very wrong-headed would be ending "capitalism" (which, for the sake of this discussion, let me define as "employing private capital for the purpose of creating wealth". What is VITAL to the discussion is appreciating the difference between creating wealth and redistributing wealth. Creating wealth happens when you add value to a resource or deliver a service essential to support adding value (my definition which anyone is quite welcome to use).
Wall Street today (and in the past to varying degrees) does very, very little capital placement, but is focused - AND HAS FOCUSED THE ECONOMY OF THE ENTIRE WORLD - on redistributing wealth without the inconvenience of creating one penny of added value. Time for another definitive term: "CASINO CAPITALISM".
In its endless worship of greed for the sake of greed, Wall Street "invents" vale ("market value") of equities (note, it does NOT and can not appear as a calculation on a balance sheet, just a note) by trading equities back and forth - shifting money between winners and losers (and skimming a fair chunk of change for themselves). Trading equities amounts to nothing more than betting on which way a stock (whose "investment" was placed long, long before in the actual company) will go when the advice given by the very same Wall Street analysts prods it to move. To that end, they invent scam after scam (derivatives, for example, which are just a bet on a bet) to hype the ridiculous activity to scam even more money from suckers. The end result - AND THIS IS THE PUNCH LINE - is that Casino Capitalism gives Wall Street full access to the cash for wealth redistribution scams that Main Street (the real capitalists) need for investment in businesses that add value and create wealth.
So what should the rallying cry be? "SAVE CAPITALISM FROM CASINO CAPITALISTS".
Keep focusing on the ultra-left (remember, Marxist socialism has failed everywhere it has been tried) and you play into the hands of the Uniparty that will keep us all bickering about "left" this and "right" that policy and nobody will get to the real issues.
We have a chance here to do what partisan politics and rule-by-special-interest will NEVER do: open the public's eyes to what is really happening in the economies of the world.