[b]Why we are totally finished: Corporatocracy has Replaced Capitalism

[Mira]

Why we are totally finished: Corporatocracy has Replaced Capitalism

From:

Financial Sense
Davos Sherman Okst



Capitalism Fixes Problems & Preserves Democracy: Capitalism is what we should be relying on to fix our problems. Capitalism has it's own ecosystem, just like biology's ecosystem. An economic ecosystem that weeds out the weak, has parasites that eat the failures and new bacteria that evolves and grows replacements for that which failed. A system that keeps everything in balance.

The problem is we are no longer a capitalistic society. What we were taught in school is now utter and absolute nonsense. Capitalism is a thing of the past.

As outlined in "It's Not A Financial Crisis - It's A Stupidity Crisis", we created two back to back bubbles. The air out of the Tech
Bubble was sucked up for fuel by our next stupidity crisis: The Housing Bubble.

Now, after the second Stupidity Crisis there isn't a third bubble to inflate. If we still lived in a capitalistic environment the banks and financial institutions that created loans for folks who should have remained renters and then sold those loans as investments to pensions and countries would have been cleansed by capitalism's ecosystem.
But that isn't what happened.

In a very anti-capitalistic move the government decided that stupidity and criminal activity should be rewarded. I'd say they took our money, but it is worse, we didn't have that much money. So they borrowed the money in our name. The loan has a variable rate. They borrowed so much money that our kids cosigned the loan. In fact, our kid's future kid's signed on the dotted line.
That is unequivocally immoral.

They gave that borrowed money to a bunch of morons as a reward for stupidity. Morons who created subprime loans, liar loans, no income no documentation loans and other fraudulent instruments. Morons bundled that trash, got it rated AAA and then sold these turds or weapons of mass destruction that they had the audacity to name complex financial instruments or derivatives to pension funds, countries and other "investors".
Then it all blew up.

Big surprise.

The Rest...

http://www.financialsense.com/contributors/d-sherman-okst/why-we-are-totally-finished

[xchrom]

1. Recommend - though I dislike the analogy that

Capitalism mimics the worlds Eco-system.
I think that's false but I get what he's trying to get to.

[disillusioned73]

2. k&r

[dixiegrrrrl]

3. Which of the below forms of control do you think is closest to what we have now?

Any?
All?
None? ( if none, then what??)

Plutocracy is rule by the wealthy, or power provided by wealth.

Oligarchy:power effectively rests with a small number of people.

The combination of both plutocracy and oligarchy is called plutarchy.

Corporatocracy: A government that serves the interest of, and may de facto be run by corporations.

[Mira]

4. DING DING DING we have multiple winners. Well presented, and also

let me say : "your tag line rocks"

[dixiegrrrrl]

5. Well,thank you, Ma'am.

I am thinking of doing a poll on those questions, just for entertainment value.

[democracy1st]

8. sure do the poll should be interesting!

[clixtox]

7. "Inverted Totalitarianism" is what political scientists...

would call what's happening in the USA now.

"Crackpot Realism" is what C. Wright Mills called the policies and goals of our "leaders".

Look these terms up to get a handle on the evolving catastrophe occurring around us.

[golfguru]

6. Correct, stop bailouts of too big to fail outfits

Let them fail because of ineptitude. The biggest victims will be the
highest paid executives. The workers will do just fine because either
the corporation will break up in manageable size companies bought out
by investors who will install smarter managements.

[upi402]

9. Corruption gets my vote

Seems like we had some machiavellian players. Bush was stupid, and why his evil has some mitigation. I can't see the folks who played us, purchased politicians, and slurped up ou treasury - as especially stupid.

I'd feel better if it was stupidity, however. But still be just as screwed either way.

[elleng]

10. Good one, Mira. Thanks