Quote: I did reply to this you just didn't like the answer. Basically what I said was that it's crap that the banks were made to loan money out to the impecunious lenders. The banks were greedy for the $$$ and market share and caused the crisis. Their greed causes the collapse of capitalism as Marx said it would and one day they will do it once too often and thankfully the people will demand a workable economic system that is fair. As for socialism not working that again is not true. Since the russian revolution capitalism has collapsed twice and since 2008 has been on the brink of collapsing again. The problem with capitalism is that it'd bad in theory and doesn't work in parctice and the sooner we ditch it the better.
your ignoring that facts.
The problem started with Government wanting every family to have a home and give banks incentives and at times forced banks to give loans to people who could never pay the banks back, the true value of these 'sub-prime loans' were then suppress and replace with an inflated value which was then sold off, no one know how risky these 'sub-prime loans' were and no one cared it was easy money back and guaranteed to be safe. It didn't start with banks it start with government.
Quote: Planned enconomies have rescued more people from hunger and poverty then capitalism ever could (eg China, USSR). Capitalism on the other hand has put more people in poverty and huunger then any other eco system.
you biggest problem is that you fail to understand capitalism.
The Economist published a chart last week showing thanks to the rise of capitalism, poverty will all but be eradicated by the year 2030.
In 1990, there were more than 2 billion people throughout the globe living under the international poverty line of $1.25 a day. By 2010, 1 billion of those people had risen out of poverty! This is an example of the positive impact economic freedom has on the world.
If these countries maintain their economic growth rate, poverty would fall from the one billion it's at today, to just over 200 million by the year 2030.
Wherever free markets are put into practice, we see the creation of wealth. As shown in the chart below, when a country's overall wealth grows, even when it is not distributed evenly among social classes, everyone benefits.
By the year 2030, poverty levels will be around 200 million worldwide — a 3% poverty rate. Even though poverty will not be completely eliminated, we will have helped rescue 1.8 billion people from poverty over 40 years.
Allowing people the freedom to keep their own money and use their God-given talents is the best way to help families in need. Private charities and business will always do more to help a country prosper than government ever can.
That being said, this chart really does put things into perspective. While we take for granted the simple things in life, nearly 1 billion people throughout the globe are currently struggling to survive on less than $1.25 a day. While it's great to get involved and donate your time, talents, and resources to local charities, what's really going to help these families is economic liberty. Quote: it was the socialist countries that escaped the great depression virtually unscathed. These are facts you dont want to hear because it doesnt suit you. All we need now is a socialist economy with a genuine direct democracy and were good to go to.
OMG so funny, they escaped the great depression virtually unscathed because they were not only less connected with other nations at that time but they were in no way near developed as the capitalism states during the great depression, if you could provide some evidence of a socialist state as developed as other capitalist state of that time escaping the great depression virtually unscathed please feel free to post it.
http://www.policymic.com/articles/47817/the-one-chart-that-proves-capitalism-works
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Does Capitalism Exploit Workers? (Read 59514 times)
