October 20, 200817 yr They are accusing Obama of socialism. What does everyone call $700 billion of the taxpayers money being taken and given to companies that made bad business decisions. What does everyone call $300 billion of that money being used to buy up bad mortgages from banks and let them off the hook. I call that redistribution of wealth and a form of socialism.
October 20, 200817 yr They are accusing Obama of socialism. what does everyone call $700 billion of the taxpayers money being taken and given to companies that made bad business decisions. What does everyone call $300 billion of that money being used to buy up bad mortgages from banks and let them off the hook. I call that redistribution of wealth and a form of socialism. I'll play. Socialism Stupidity I agree Where are all the real leaders in this nation?
October 20, 200817 yr They are accusing Obama of socialism. what does everyone call $700 billion of the taxpayers money being taken and given to companies that made bad business decisions. What does everyone call $300 billion of that money being used to buy up bad mortgages from banks and let them off the hook. I call that redistribution of wealth and a form of socialism. I agree. I don't think we can pin this one on McCain or Obama though. Our government as a whole and us for letting it happen bear the responsibility for this MISTAKE.
October 20, 200817 yr They are accusing Obama of socialism. What does everyone call $700 billion of the taxpayers money being taken and given to companies that made bad business decisions. What does everyone call $300 billion of that money being used to buy up bad mortgages from banks and let them off the hook. I call that redistribution of wealth and a form of socialism. I would say that it is a form of socialism in that the government is taking a majority stake in the companies it is "bailing out." Other than that it's welfare.
October 20, 200817 yr I would say that it is a form of socialism in that the government is taking a majority stake in the companies it is "bailing out." Other than that it's welfare. Good thinking both are not good.
October 21, 200817 yr Free Market Capitalism has been dead since the Great Depression. Things as seeminly necessary as government oversight of the stock market and banks lead to an artificial market. Most of us have never expereienced a true free market economy and we certainly never will.
October 21, 200817 yr Free Market Capitalism has been dead since the Great Depression. Things as seeminly necessary as government oversight of the stock market and banks lead to an artificial market. Most of us have never expereienced a true free market economy and we certainly never will. What is so holy and sacred about a free market??
October 21, 200817 yr Free Market Capitalism has been dead since the Great Depression. Things as seeminly necessary as government oversight of the stock market and banks lead to an artificial market. Most of us have never expereienced a true free market economy and we certainly never will. I don't know Mr. Network, I think what you are describing is anarchy. From my understanding of capitalism some government is necessary - establishing laws, ensuring consumer protection, providing some form of education, providing infrastructure, and even regulation. Within that framework some capitalist call for a complete laissez-faire approach, while others call for a welfare approach.
October 21, 200817 yr I don't know Mr. Network, I think what you are describing is anarchy. From my understanding of capitalism some government is necessary - establishing laws, ensuring consumer protection, providing some form of education, providing infrastructure, and even regulation. Within that framework some capitalist call for a complete laissez-faire approach, while others call for a welfare approach. I agree but what started out as oversight of banks and the stock market has evolved into manipulation of the economy by the government. What Teddy Roosevelt did in reaction to the "Robber Barrons" is nothing compared to the government-power-grab that his distant cousin Franklin Roosevelt orchestrated with the "New Deal". And now, that pales in comparison to the $700B bailout that is probably a band-aid to our ailing economy.
October 21, 200817 yr I agree but what started out as oversight of banks and the stock market has evolved into manipulation of the economy by the government. What Teddy Roosevelt did in reaction to the "Robber Barrons" is nothing compared to the government-power-grab that his distant cousin Franklin Roosevelt orchestrated with the "New Deal". And now, that pales in comparison to the $700B bailout that is probably a band-aid to our ailing economy. I agree. Though, I think TR's actions were necessary within a capitalist system. Competition is the central pillar to the workings of capitalism, so I don't begrudge TR for ensuring it. I'm confident, at least, that the banks will be recapitalized and released from government's hold in our current situation.
October 21, 200817 yr In theory, doesn't any form of democracy employ some theories of socialism? I'm not sure I understand what you mean.
October 21, 200817 yr I agree. Though, I think TR's actions were necessary within a capitalist system. Competition is the central pillar to the workings of capitalism, so I don't begrudge TR for ensuring it. I'm confident, at least, that the banks will be recapitalized and released from government's hold in our current situation. I might add that TR did more than break up Trusts. TR sided with the working class concerning deplorable conditions of the employed poor of that era. He forced coal companies to the arbitration table with the unions in order to keep the heating element (coal) flowing to the northeast. That might be construed as socialism or communism where the government intervenes on behalf of the worker who has little leverage.
October 21, 200817 yr I might add that TR did more than break up Trusts. TR sided with the working class concerning deplorable conditions of the employed poor of that era. He forced coal companies to the arbitration table with the unions in order to keep the heating element (coal) flowing to the northeast. That might be construed as socialism or communism where the government intervenes on behalf of the worker who has little leverage. J.P. Morgan raised Millions of Dollars (Back when a million dollars was something) to fund railroads even though the investors weren't seeing a return but because it was good for the country and, maybe to a greater extent, those investors other businesses depended on the railroads. Not all trusts were bad.
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