Define what an economic depression is:

[jazzlover]

Originally Posted by mysticaltyger

Furthermore, the stuff that people think of as capitalist is rather appalling and shockingly ignorant. Corporations being given special favors and bailouts by the government is not capitalism. It's more like corporate socialism. And the antidote to corporate socialsim is the same as the antidote to individual socialism.....stop subsidizing failure and giving special preferences/protections (whether it be corporations or individuals) and you'll get better results.

Actually, "corporate socialism" as you describe it is very close to fascism. People quite correctly associate social fascism with Hitler and the Nazis, but our current economic model very much resembles the Fascist economic model embraced by Hitler and his buddies. And, as the current Administration is quite plainly showing, economic Fascism grows and festers when an ignorant populace is willing to cede control of the economy to politicians in trade for government bailouts and handouts. As history shows, it often is just a small step from that to a political dictatorship. We are really in that danger zone now, and most of the American public doesn't even see the risk, and might even be willing to accept that outcome. Fear for the survival of the Republic--the threats are real, large, and near.

[Pongmeister]

Originally Posted by mysticaltyger

Furthermore, the stuff that people think of as capitalist is rather appalling and shockingly ignorant. Corporations being given special favors and bailouts by the government is not capitalism. It's more like corporate socialism. And the antidote to corporate socialsim is the same as the antidote to individual socialism.....stop subsidizing failure and giving special preferences/protections (whether it be corporations or individuals) and you'll get better results.

The last time we stop subsidizing failure was when we let Lehman go under. That was not pleasant. For all the negative press about the bailout, it's important to note that without them, our country would be in a much bigger state of distress. In many cases, the government gain back a significiant portion of the bailout, so that even though the GROSS number looks huge, the NET number was immaterial. The huge deficit increase we are incurring is due in large part to a President spending close to a Trillion without any tangible results. I think people need to keep that in perspective.

Pure Capitalism like any theory has holes in them when it's employed in a real setting. This isn't an Ayn Rand' society we live in. A hybrid model of capitalism and regulation/intervention is healthy and necessary. It's when we move to polar opposite that we get in trouble.