Capitalism

[mitch mconal]

One problem with capitalism is like coin flipping. Starts out fair enough then o ne party gets a nice long lucky streak, accumulates wins and then wants to dictate how to flip the coin. And the change is for "your" benefit

 

[hhiusa]

One problem with capitalism is like coin flipping. Starts out fair enough then o ne party gets a nice long lucky streak, accumulates wins and then wants to dictate how to flip the coin. And the change is for "your" benefit

that's not a problem with capitalism, it's a problem with people. The "saying how the coin should be flipped", is called regulation.

1. laissez-faire capitalism does not prescribe that, it wants the exact opposite.
2. The Lib Dems scream "regulation" from the rooftops.

It sounds to me that we should keep the "regulationist fearmongers" out of the economy. Only the Lib Dems try to sell things based upon "being good for you" (See Ad Consequentiam fallacy). The proper way is to sell something as "being good buy itself."

You equivocate yourself and the economy, and even the country.

Case in point
having a government right everyone at $10,000 stimulus check tomorrow.
1. really good for you.
2. Really bad for the gov't, country and economy, which down the road is bad for you.

That's why a consequentialist argument fails.

 

[mitch mconal]

PEOPLE decide what capitalism is or isn't your idiot.

Complex society needs regulation, laws etc to say otherwise is libertarian nonsense. The point I make is that monopolies form and therefore achieve unbridled power and wealth. Your concept of capitalism, a free society and democracy is naive, and stupid. IN THE 21ST CENTURY.

In the 18th century, you be doing pretty good with your libertarian BS.

 

[hhiusa]

PEOPLE decide what capitalism is or isn't your idiot.

Complex society needs regulation, laws etc to say otherwise is libertarian nonsense. The point I make is that monopolies form and therefore achieve unbridled power and wealth. Your concept of capitalism, a free society and democracy is naive, and stupid. IN THE 21ST CENTURY.

In the 18th century, you be doing pretty good with your libertarian BS.

Gov't is defined by the people not capitalism. Capitalism is system with prefined rules. There is no "US capitalism" vs "UK capitalism". What you want is a *******isation of capitalism. A have your cake and eat it buffet of multiple systems.

P.S. You know that you have lost a debate when you start mudslinging (Ad hominem fallacy)

 

[mitch mconal]

Gov't is defined by the people not capitalism. Capitalism is system with prefined rules. There is no "US capitalism" vs "UK capitalism". What you want is a *******isation of capitalism. A have your cake and eat it buffet of multiple systems.

P.S. You know that you have lost a debate when you start mudslinging (Ad hominem fallacy)

capitalism is business, right? business needs regulation right? especially where business get a monopoly on a sector thats very important for societal survival like water, or the internet? right?

capitalism is a man made concept, thats needs to be modified over time, regulated. MAN, defines capitalism not God.

these regulations (that you libertarians hate) keep YOUR broker from ripping you off you know.

 

[mike.]

Mitch got banned innit.....no likey button ?

 

[counter_violent]

Mitch got banned innit.....no likey button ?

You mean pip?

 

[Atilla]

Mitch got banned innit.....no likey button ?

Ain't it funni, after all the abuse and lip you CV and I give each other I can think of no better person to share a pint with. Here's to you matey. :cheers::cheers:

I'm glad you don't have delicate skin like some people. It's probably coz your a Northerner and have lots of blabber :cheesy:

Then there are those people who we have to pussy foot around where I much rather be sitting in a dentists chair having my wisdom tooth out then share superficial cordial words.

Shame, I was beginning to look forward to Mitchs' posts.

 

[counter_violent]

Ain't it funni, after all the abuse and lip you CV and I give each other I can think of no better person to share a pint with. Here's to you matey. :cheers::cheers:

I'm glad you don't have delicate skin like some people. It's probably coz your a Northerner and have lots of blabber :cheesy:

Then there are those people who we have to pussy foot around where I much rather be sitting in a dentists chair having my wisdom tooth out then share superficial cordial words.

Shame, I was beginning to look forward to Mitchs' posts.

Why's Mike getting special treatment My money is just as good as his !

Fancy a pint :cheers::cheers:

 

[Atilla]

Why's Mike getting special treatment My money is just as good as his !

Fancy a pint :cheers::cheers:

LOL okay, I'll take you both on. :drunk::drunk:

 

[mike.]

Spreading the love

You mean pip?

Do you think it was ?

 

[Pat494]

Have you heard of the sinking of The Titanic ?
I expect you have. Well did you know that the original design of the ship included 64 lifeboats ? And just how many were there when all those poor people drowned - just 16 !
This was a clear case of profiteering and management greed at the expense of lives.

Crapitalism stinks.

 

[tomorton]

Have you heard of the sinking of The Titanic ?
I expect you have. Well did you know that the original design of the ship included 64 lifeboats ? And just how many were there when all those poor people drowned - just 16 !
This was a clear case of profiteering and management greed at the expense of lives.

Crapitalism stinks.

No it wasn't, that was a failure to plan for this type of catastrophe. As far as the UK government inspectors were concerned, the ship was at least compliant with regulations, if not exceeding them.

Planning failures often have a financial driver, too, but as every socio-politico-economic system uses finance, saving money is a universal factor.

 

[hhiusa]

This is the prosperity that comes from capitalism. Hail to the BHCs

37 with total assets greater than $100 billion.
$15,130,718,036,000 between the 29 American multinationals.

Assets in 1,000s

 

[Atilla]

Lehman's Colossal Miscalculation

In February 2007, the stock reached a record $86.18, giving Lehman a market capitalization of close to $60 billion. However, by the first quarter of 2007, cracks in the U.S. housing market were already becoming apparent as defaults on subprime mortgages rose to a seven-year high. On March 14, 2007, a day after the stock had its biggest one-day drop in five years on concerns that rising defaults would affect Lehman's profitability, the firm reported record revenues and profit for its fiscal first quarter. In the post-earnings conference call, Lehman's chief financial officer (CFO) said that the risks posed by rising home delinquencies were well contained and would have little impact on the firm's earnings. He also said that he did not foresee problems in the subprime market spreading to the rest of the housing market or hurting the U.S. economy.

Read more: Case Study: The Collapse of Lehman Brothers



fwiw - Lehman HQ building was worth 1bn alone. So if a $60bn company goes up in smoke just like that just think what else might happen if the world comes off the dollar standard and adopts the Yuan or the Euro? It could well happen in our life time if Trump ever gets his way with infrastructure spending and tax give aways. Beware

 

[hhiusa]

Having $60 billion and being a non-bank, is worlds apart from having $2 trillion in assets. FYI that is only $760 billion less than the GDP of the United Kingdom.

So if your prophecy about big companies disappearing is correct, then JP Morgan with its greater than $2 trillion in assets is no more likely than the collapse of the UK.

 

[Pat494]

How does Capitalism stack up in regard to generosity and philanthropy ?

 

[hhiusa]

How does Capitalism stack up in regard to generosity and philanthropy ?

Communism and socialism are essentially forced and enforced philanthropy. Capitalism does not enforce redistribution or charitable donations. I get to choose where my money goes.

Capitalism obviously stacks up pretty well in regards to philanthropy. Bill and Melinda Gates made their billions in the capitalism and "choose" to give hundred of millions of their money back into the education system. Gates and Bloomberg have partnered up to this effect.

If capitalism was not philanthropic, charities could not exist. Why have charities in a socialistic or communist society? The government acts as the charity already.

 

[Splitlink]

]

Communism and socialism are essentially forced and enforced philanthropy. Capitalism does not enforce redistribution or charitable donations. I get to choose where my money goes.

Capitalism obviously stacks up pretty well in regards to philanthropy. Bill and Melinda Gates made their billions in the capitalism and "choose" to give hundred of millions of their money back into the education system. Gates and Bloomberg have partnered up to this effect.

If capitalism was not philanthropic, charities could not exist. Why have charities in a socialistic or communist society? The government acts as the charity already.

It falls down, though, due to the fact that they give their money where they want it. Very laudable, I agree. It makes sense to give away what one will never need.

However, is it really going to the right places? That is a very difficult decision to make. I don't know where I would donate mine, if I had that much.

I am of a capitalist mentality and not a socialist, but I believe money of that nature should have some kind of legislation. IMO it is very wrong for one man to make all that money because he may use it against the public interest.

That kind of money in the wrong hands can, and does, corrupt governments.

 

[Pat494]

Both power and wealth corrupt most people.
But they can't take it with them.
In an ideal society I think there should be the incentive of earning more but not such huge differences in wealth that some have so much they can't spend it all and others nearby starve. Revolutions come of this.