Quit killing capitolism

The conclusions of the article seem not to take into account that capitalism was not always the establishment candidate in global politics.

If anything, it is a triumph for free enterprise that so many people in states that were once entirely command economies have a growing acceptance of this economic system. 80-90% of Germans and Americans agree with the free market in general.

Which, by the way, is the least like an economic system out of any alternative.

It would be hard to doubt that more Russians and Ukrainians agree with capitalism today than over 20 years ago. Mexico, France, and Brazil are paying a harsh price for their socialism, as we all know.

Do you think I take the blue part as bad news because people believe in regulations? The argument between a mostly free market and "a different economic system" (which Democrats publicly say they do not want) is not a matter of passing a few regulations.

Hell, I believe in regulations. But I also believe the regulator needs to be regulated as well.
 
Case in point Adam: China. There hybrid system seems to be a more effective system then both Capitalism and Socialism but who would every want America to become that?

So Desh, don't think we would move towards socialism as some grand new America. We would almost definitely follow the new wave china hybrid system. Careful what you wish for.
 
I am hoping for sanity and regulations like glass steagal which worked for decades until removed
 
evince said:
I am hoping for sanity and regulations like glass steagal which worked for decades until removed
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And which President removed Glass Steagal? How did the vote go?

In this one we agree, that would be a logical start. However, both parties overwhelmingly voted to repeal the ACT (Final vote in the Senate: 90-8 w/1 not voting, House: 362-57 (15 not voting)) and it was signed into law by President Clinton in November of 1999.
 
Glass Stegall is gone for good and for good reason. The only preblem is when they repealed it they didn't offer the discount window to the Investment Banks which has been corrected. The idea that this mess was caused by the market when the Government owns more than half the Mortgages in the US and the Fed had a 1% interest rate policy is absurd.
 
This was caused by deregulation of the markets.

Bush and team didnt even enforce laws that were left on the books.

Regulation is capitalisms best protector.
 
evince said:
This was caused by deregulation of the markets.

Bush and team didnt even enforce laws that were left on the books.

Regulation is capitalisms best protector.
Click to expand...

Only to a degree. It can also be capitalism's worst nightmare.

That said, it was not only the deregulation (Glass Steagall) but also the regulation (low interest rates/fair lending act) that led us into this mess.

What laws did Bush not enforce that you believe led us to this mess (or at least helped put us there)?
 
Superfreak said:
Only to a degree. It can also be capitalism's worst nightmare.

That said, it was not only the deregulation (Glass Steagall) but also the regulation (low interest rates/fair lending act) that led us into this mess.

What laws did Bush not enforce that you believe led us to this mess (or at least helped put us there)?
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Start with the '04 change to the net capital rule for the big boys.
 
NigelTufnel said:
Start with the '04 change to the net capital rule for the big boys.
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Ok... start there, was it a rule CHANGE or a rule that Bush did not enforce?

Please back up your point with actual data. That way we can discuss it. Provide examples... something... anything... thanks.
 
Superfreak said:
Ok... start there, was it a rule CHANGE or a rule that Bush did not enforce?

Please back up your point with actual data. That way we can discuss it. Provide examples... something... anything... thanks.
Click to expand...


It was a rule CHANGE. Why in the hell does that matter? In this context loosening regulations results in the same conduct as not enforcing regulations.

And you can find plenty written on the subject with a simple google search. Try it. In the meantime, here's a decent article on the subject:

http://www.nytimes.com/2008/10/03/business/03sec.html
 
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