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Old 07-22-2012, 07:46 AM
Status: "Do I love you? Oh, I do." (set 20 days ago)
 
Location: Texas
4,691 posts, read 4,025,101 times
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Capitalism cannot exist when resources are allocated by coercive forces to failing institutions. Corporate welfare is by far the greatest threat to the American way of life and prosperity of the middle class.
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Old 07-22-2012, 09:58 AM
 
Location: Chicago
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Where theoretical capitalism fails is the lack of recognition that capitalists will usurp government by simply buying it out and then right rules in their favor thereby eliminating competition and allowing for immense concentration of wealth and power. The death spiral continues until the middle class becomes the equivalent of the serfs of the Dark Ages.
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Old 07-22-2012, 10:18 AM
Status: "Do I love you? Oh, I do." (set 20 days ago)
 
Location: Texas
4,691 posts, read 4,025,101 times
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Quote:
Originally Posted by richrf View Post
Where theoretical capitalism fails is the lack of recognition that capitalists will usurp government by simply buying it out and then right rules in their favor thereby eliminating competition and allowing for immense concentration of wealth and power. The death spiral continues until the middle class becomes the equivalent of the serfs of the Dark Ages.
It is the responsibility of the people to hold the elected accountable. Alas, people are too stupid to do that.
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Old 07-22-2012, 10:29 AM
 
Location: Chicago
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Originally Posted by Philosophizer View Post
It is the responsibility of the people to hold the elected accountable. Alas, people are too stupid to do that.
People try, but the government keeps re-writing the rules (e.g., gerrymandering, or the enormous amount of foreign wealth that is now allowed to flow into this country to support given politicians) in order to keep its own in power. People are frustrated that so few are able to control so much: banks, government, wealth.
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Old 07-24-2012, 09:05 PM
 
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Central banks all over the world have helped destory the middle class and poor and only protected their rich banking buddies.
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Old 07-24-2012, 09:14 PM
 
43,373 posts, read 47,301,694 times
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Originally Posted by richrf View Post
Yes, there are people who don't understand how to manage their finances and take out loans that they can never pay back or barely pay back. And there are corrupt bankers (and their surrogates) who make these loans because they have nothing to lose and everything to gain (the so-called process of securitization).

However there are tons of "speculators" who take out loans without ever intending to pay them back hoping that they can make a quick killing by flipping the houses or whatever asset they are buying. And if they can't make any money, they just walk away from the loans since little to no collateral is required. Again, corrupt bankers give them the money because they have nothing to lose. The Feds and Central Banks will always print up money (as they are now doing in Europe) to make up the losses so that the bankers always make money no matter what. It is an entirely corrupt system which is now destroying the middle class all around the world. The bankers make the money and the middle class has to pay for all of the bad loans (witness what is happening with so-called private sector institutions such as Fannie Mae, Freddie Mac, and the FHA).
there are alwasy the victims who reallt don't want to know especailly after the fact. its like those who can manage their way thru applyi gfor ewvery program wit just the right answers but can actaulyl tell their income o those loans called lier loans for a reason. its always so one elses fault by the millions thsee days. Tere are criminals i all aprts of life not jst bankers .its said that perhaps 10% of out GDPO is stolen ebfore it ever gets to market and then their are the reaminig thefts after that. My grandfather who wasn't really educated would fall for some of these victim stories ;really.
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Old 07-24-2012, 10:28 PM
 
Location: Chicago
1,124 posts, read 759,769 times
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Originally Posted by LeavingMA View Post
Central banks all over the world have helped destory the middle class and poor and only protected their rich banking buddies.
And they keep doing it, even as we speak. They keep printing money for their buddies and saddling the populous with the debt that is impossible to repay. Observe what is happening to Spain. The Central Bank keeps printing money for the bankers and the workers keep getting laid off, having their wages cut, and their pensions dismissed in order to pay back the loans. The Central Bank will not stop until everyone is broke other than their friends who have their money hidden in Swiss Bank accounts. Sooner or later this will have to end, and I think it is going to be quite quite ugly. The Greeks are already threatening that they are not going to pay back the debt. What if Spain, Italy, Portugal, Ireland, and the rest do the same? Who is going to pay back the debt? The bankers with their Swiss Bank accounts?
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