The coming financial crisis

[stalker]

Capitalism as practiced in the United States periodically runs wildly out of control to the point of self destruction, at which point socialist tools are employed to check it.

Without public education, social security, medicare and medicaid, etc, American capitalism would have failed utterly.  Without government bailouts and regulation, rabid moneylovers would have broken the system to the point where they have only each other to employ and sell things to, because the rest of the country would be effectively enslaved by ignorance poverty and sickness.

There are limits to how freely capitalism can be successfully practiced.  Those of you who think the rich are the economic core of the economy, who think that massive individual wealth is earned and deserved, who believe that left unfettered to their own devices these men will lead us to ever greater heights of collective well being, would land the country in exactly the same place that Stalin put his country, only by a different route.

A mix is required and the current mix is off. 

I agree that a mix is required. US capitalism is a mix now. It cracks me up when I hear a super rightie talking about how horrible socialism is when it is already a very large part of our government. If we eliminated all of the socialistic aspects of our government what would be left? I really think the current batch of "Federal Corpratists" want that. No social security, no public education, a flat tax system, and everything ruled by the free market while being controlled by corporations. Would some argue that this can work?

We can only dream of this utopia.

[ATV]

DO IT...

http://www.cnn.com/2009/POLITICS/01/30/executive.pay/index.html

Don't gripe here, email your congressmen.

[Rome]

because she write for shtein.

LOL

[rjs246]

I'm not publishing 1200 page manifestos to make your eyes bleed out.

[Rome]

That's true.  The 100 word diatribes you post here are more than sufficient for that.

Oh, zing.

[rjs246]

It cuts like a knife!

[shorebird]

AP investigation shows banks being bailed out sought foreign workers

The average annual salary for those jobs was $90,721, nearly twice the median income for all American households.

Foreigners are attractive hires because companies have found ways to pay them less than American workers.

So........not only is our money going towards caking off executives that had bad job performances, and spent bank money frivolously, but also it's going towards hiring foreign workers.

Big banking sucks.

[rjs246]

We live in a Global economy now whether we like it or not. We aren't adjusting to the idea of it very well as a population, but business operates and competes internationally. Hiring internationally is only going to increase as a result.

[Seabiscuit36]

i can say seeking foreign workers backfired on my workplace, the amount of manager calls/letters to the CEO/and accounts lost didnt justify the cost of heavy outsourcing.  You'll see over the next 10 years more of those jobs coming back mainly because of the language barrier costing the companies revenue. 

[rjs246]

There will definitely be some ebb and flow to it, but ultimately there's no way to fend off the ever-shrinking world and the global nature of the marketplace. That will inevitably include the workforce.

[rjs246]

A good read on how Senate Republicans can (and should) positively impact the stimulus bill.

The loyal left won't like some of the stuff in there, but the economic side of it is very interesting and its assessment of the Democratic pet projects in the bill is spot on.

[ATV]

We live in a Global economy now whether we like it or not.

True, however it would easier to swallow if their were some policing going on, e.x. if these banks and corporations weren't able to suck up tax payer money only to dole much of out to their executives, or by allowing them to move their "home" to the Cayman Islands to escape paying taxes...

http://www.pbs.org/wgbh/pages/frontline/shows/tax/schemes/cayman.html

[ATV]

These people work 1000-5000 times harder than you do...

http://money.cnn.com/news/specials/storysupplement/ceopay/index.html

Must be nice.

[MDS]

i hope you get raped by a tiger

[Munson]