@ kingsam:
I agree with you somewhat. Unregulated capitalism in a way, however capitalism implies free market, and a select few brokerage firms lending funny-money to governments around the world is not free market.
I wholeheartedly favor capitalism, however there are boundaries and one of those is around the money supply of a nation. The large brokerage firms gambled with the money supply of nations until the bubble popped. That was the end of the 'capitalist' side.
Then a whole new problem was the banks grabbing citizens of supposedly free countries by the balls and saying "give us your money". We conceded, and so these brokerage firms were allowed to socialize their losses through the lender of last restort (you).
I would rather we be in the midst of a great depression'esque catastrophe than have let a select few banks get away with the largest heist in human history.
We propped up fraudulent firms, thereby validating their methods.
One could postulate that another Great Depression was prevented(forestalled?), but only because we were held at gunpoint for our tax money. It doesn't fix the root cause.
One could say it began with the repeal of the Glass-Steagall Act in 1999, one could argue it began with the Federal Reserve Act 1913, and one could argue that it's been happening ever since mankind got together and said "hey lets live together in a society" and didn't punish those who would live off the labor of others. I would say all three contributed. I'm sure there are plenty more reasons too.
aww i bet you dont even know what socialism really is... watching too much FOX news???
I don't appreciate the ad hominem remarks, though it is a dating board so it's to be expected. Personally I don't watch mainstream brainwashi... I mean mainstream media so I don't know what you're talking about.
In my opinion, capitalism isn't an excuse for saying private interest should control all facets of society. I believe a nations people should be the only shareholders in their food supply and their currency supply, and those should never have been handed over to the private sector. There may be a few more but I feel those are the exceptions of society where capitalism should never have been allowed to go.
The purpose of government, to me is solely to protect the rights, freedoms, and liberties of every individual (not a majority. every individual. there is a difference) citizen. nothing more.
this requires the food supply to be controlled by the government and also the money supply, lest private offshore interests gain the ability(through money and food) to grab the country by the balls and make demands. Hey wait a minute...
I'd put my beliefs in with Thomas Jefferson's for the answer:
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
- Thomas Jefferson
3rd president of US (1743 - 1826)