"Too big to fail" really means "too big to fail safely", which ought to mean "too big to be allowed to exist".
The Standard Oil Co. once owned the entire oil industry. The U.S. government decided that Standard was too big to allow, and required it to divest into smaller companies. We should do the same thing with the banks.
The problem I have with capitalism is when it becomes an "ism". Then, it is just as destructive of human rights as any other ideology.
@doctorpsycho1960 "ism's" are just sets of concepts describing postulated Human association and interaction and are not innherently bad. But yes you are correct in your point, the question is how to prevent monopolies in the market using either corporatism (working with state) or free market (price dumping) to forcing smaller competitors out. The real difference is the Socialist want state to control Capitol, Capitalism wants private, but there is the problem of monopolies.
@doctorpsycho1960 The only difference is in a free market capitalist system, you can through innovation and free association bring down the monopolies like for example the communication industry, but in Socialism the Monopoly reigns Supreme because its a corporatist system. The State and Monopoly works together to control the market, leaving no room for freedom. And this is what the Socialist mean by Freedom; The Freedom for the State to implement all policies regardless of constiution limits.
@killerbee2k In a free market society it is SOMETIMES possible to bring down a monopoly through innovation (in technology, in funding mechanisms, or some other element of your business plan). Just as in a socialist economy it is theoretically possible to change the operations of a monopoly by voting for candidates who support the changes you want.
I prefer the system that we have had for most of the history of this country, in which private enterprise is regulated modestly and cautiously.
@doctorpsycho1960 Yes, respect that. I have not encountered any economist with a persuasive argument for total non intervention against monopolies in free market system. In Norway we live in Mild Socialism, some capitalist market in automobile, retail and telephone. The rest is monopoly by Corporatism. The voting does not work, simple reason, Special Interests like Unions and State Firms control politicians and they love Monopoly. So we got high prices and poor service in all Monopoly sectors.
This comment has received too many negative votesshow
I challenge Mr McManus to take a basic sociology or economy class so he can stop mixinig up terms and confusing people. His dishonesty or ignorance should be a shame to all.
This comment has received too many negative votesshow
Comunists system do not believe in the abolition of all private property. When Karl Marx speaks of Private property in one of the most idiot proof pamphlets ever made, explains clearly that when they speak of private property they are refering exclusively to property that produces means of production. He makes a clear distinction between private and personal property. When they speak of abolition of private property, it does not mean your cloths belong to the state. Thats moronic.
"Let it not be said that no one cared - that no one objected - once it is realized that our liberties and wealth are in jeopardy" - Honorable Congressman Ron Paul
"Let it not be said that no one cared - that no one objected - once it is realized that our liberties and wealth are in jeopardy" - Honorable Congressman Ron Paul
This comment has received too many negative votesshow
How do we reconcile the need for limited government with the result of the relatively unregulated markets manifesting in the current economic downturn?
under-regulation did not cause this problem. Government-supported monopolies caused the problem, which are further propped up by the government, socializing the risk while keeping the profits private. If the banks were allowed to fail and were not artificially propped up, no problem to the public would exist. Sure, banks who failed would be let fail, just like any other business. But, this is good as it makes banks perform without gambling your money away.
Some banks and financial institutions and companies are just too big or too essential to the economy to fail. And so the government must step in to support them -- at tax payers expense. But the problem is that these same banks and corporations know and exploit this. The Federal Reserve, America's central bank, is itself a privately owned entity and often operates on a quid pro quo fashion when it lends out money to other institutions...
(cont.)...So the Fed itself has its own private interests that it serves. And the United States Congress really has no oversight of what the Fed does. And some political leaders like Ron Paul have expressed concern about this. To a certain degree, banking and corporate interests have superseded the national interest. Lobbyists in Washington, DC perhaps have more influence on elected officials than the people who elected them.
I agree with most of what you said. Except that the following sentence:
>>Some banks and financial institutions and companies are just too big or too essential to the economy to fail
...is hogwash. There is no such thing as too big to fail. The is media-propagated b.s. and part of Paulson's blackmail technique for the Bush bailout. Funny thing is: all the things he said would happen if the bailout didn't occur are happening anyway... some of them as a direct result.
I think capitolism works pretty well. The only flaw though is when corporations merge with each other and then with the government. When that happens, capitolism turns into fascism
Switzerland is a Federalist in structure. Just like America and forefathers wanted here.
The bottom line is summed up by our forefathers. "Freedom is not to do what one wants, but what one ought." Because when citizens call on the government. At that very moment they have given up a portion of their Creators given freedom.
This comment has received too many negative votesshow
The other video was interesting but in this video he sets up a straw man argument by completely distorting the meaning of the term "capitalism".
-capitalism-
"an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market "
Private Industry has MANY owners with personal accountability(unless subsidized by government) versus a government system that really has no accountability because they are controlling the collectivists (everybodys goods). Capitalism is freedom, it is not the republicans supply-side economics and it is not the democrats demand-side economics. People often associate the republicans with free markets but they are not....they are for big government as well. All-in-all capitalism is best!
I think capitolism works pretty well. The only flaw though is when corporations merge with each other and then with the government. When that happens, capitolism turns into fascism
well that's why we have anti-trust laws, the 'big banks' pretty much got a pass by both administrations to become Monopolies in fact the biggest Monopoly we have banking wise is the Federal Reserve and its branches in Fannie May and Freddie Mac. If we used the laws on the books, we wouldnt have to spend a penny to bail them out, just force them to downsize or go under.
Land is also capital. Why do all governments perpetuate poverty by not allowing people to claim unused land so that they can live without being the slaves of "landlords"? Like access to air and water and food, all human beings have an inalienable right to occupy space. God gave the earth to everyone. You cannot hoard land and force others to live like slaves paying you for the right to take up space. Where's my space on this planet? I have no right to live on land except that gov't grants it?
Our gov by signing trade agreement with foreign nations are eliminating our ability to compete with the corps who buy and sell our legislators.We know longer live in a capitalist system
Even though i still see an unseen hand operating in most all cases, a true, open republic is what is needed to control our gov... no secrecy, no secret meetings, no national security statement on everything... pathetic... our rogue gov must go
I would put a "For Sale" sign on that Land Rover too!...lol
Squidly78 1 year ago
What's the name of the greek, Solum?
JCGabaglia 1 year ago
"Too big to fail" really means "too big to fail safely", which ought to mean "too big to be allowed to exist".
The Standard Oil Co. once owned the entire oil industry. The U.S. government decided that Standard was too big to allow, and required it to divest into smaller companies. We should do the same thing with the banks.
The problem I have with capitalism is when it becomes an "ism". Then, it is just as destructive of human rights as any other ideology.
doctorpsycho1960 1 year ago
@doctorpsycho1960 "ism's" are just sets of concepts describing postulated Human association and interaction and are not innherently bad. But yes you are correct in your point, the question is how to prevent monopolies in the market using either corporatism (working with state) or free market (price dumping) to forcing smaller competitors out. The real difference is the Socialist want state to control Capitol, Capitalism wants private, but there is the problem of monopolies.
killerbee2k 1 year ago
@doctorpsycho1960 The only difference is in a free market capitalist system, you can through innovation and free association bring down the monopolies like for example the communication industry, but in Socialism the Monopoly reigns Supreme because its a corporatist system. The State and Monopoly works together to control the market, leaving no room for freedom. And this is what the Socialist mean by Freedom; The Freedom for the State to implement all policies regardless of constiution limits.
killerbee2k 1 year ago
@killerbee2k In a free market society it is SOMETIMES possible to bring down a monopoly through innovation (in technology, in funding mechanisms, or some other element of your business plan). Just as in a socialist economy it is theoretically possible to change the operations of a monopoly by voting for candidates who support the changes you want.
I prefer the system that we have had for most of the history of this country, in which private enterprise is regulated modestly and cautiously.
doctorpsycho1960 1 year ago
@doctorpsycho1960 Yes, respect that. I have not encountered any economist with a persuasive argument for total non intervention against monopolies in free market system. In Norway we live in Mild Socialism, some capitalist market in automobile, retail and telephone. The rest is monopoly by Corporatism. The voting does not work, simple reason, Special Interests like Unions and State Firms control politicians and they love Monopoly. So we got high prices and poor service in all Monopoly sectors.
killerbee2k 1 year ago
6:07 Freedom Drive Property "in the clouds"
lenny121 1 year ago
We already have an Oligarchy...it's been that way for at least 30-40 years, and has gotten much worse under Bush and Obama.
There is no other way of saving America and the Amrican people other than taking the country back forcefully.
jarden69 2 years ago
This comment has received too many negative votes show
I challenge Mr McManus to take a basic sociology or economy class so he can stop mixinig up terms and confusing people. His dishonesty or ignorance should be a shame to all.
Jenaro1234 2 years ago
This comment has received too many negative votes show
Comunists system do not believe in the abolition of all private property. When Karl Marx speaks of Private property in one of the most idiot proof pamphlets ever made, explains clearly that when they speak of private property they are refering exclusively to property that produces means of production. He makes a clear distinction between private and personal property. When they speak of abolition of private property, it does not mean your cloths belong to the state. Thats moronic.
Jenaro1234 2 years ago
I agree, marxism is moronic.
default013 2 years ago
You dont know what marxism is.
Jenaro1234 2 years ago
Oh, PLEASE
School me oh master of marxism :)
default013 2 years ago
"Let it not be said that no one cared - that no one objected - once it is realized that our liberties and wealth are in jeopardy" - Honorable Congressman Ron Paul
vlastic 3 years ago 3
"Let it not be said that no one cared - that no one objected - once it is realized that our liberties and wealth are in jeopardy" - Honorable Congressman Ron Paul
lazarst4500 3 years ago 3
I love Ron Paul. I heard he came in third on the Republican Straw poll. It was on CNN today.
GaGirlie777 3 years ago 2
Ron Paul 2012
mattcool1st 3 years ago 3
This comment has received too many negative votes show
How do we reconcile the need for limited government with the result of the relatively unregulated markets manifesting in the current economic downturn?
cryptsub 3 years ago
our markets are not unregulated, just ask any doctor, teacher, or auto industry exce.
mattcool1st 3 years ago 3
This comment has received too many negative votes show
Not unregulated, but under-regulated. The regulations I was referring to are not of professions, but markets and finance.
cryptsub 3 years ago
under-regulation did not cause this problem. Government-supported monopolies caused the problem, which are further propped up by the government, socializing the risk while keeping the profits private. If the banks were allowed to fail and were not artificially propped up, no problem to the public would exist. Sure, banks who failed would be let fail, just like any other business. But, this is good as it makes banks perform without gambling your money away.
magichandpuppet 3 years ago 5
magichandpuppet,
Some banks and financial institutions and companies are just too big or too essential to the economy to fail. And so the government must step in to support them -- at tax payers expense. But the problem is that these same banks and corporations know and exploit this. The Federal Reserve, America's central bank, is itself a privately owned entity and often operates on a quid pro quo fashion when it lends out money to other institutions...
schtooch 2 years ago
Comment removed
schtooch 2 years ago
magichandpuppet,
(cont.)...So the Fed itself has its own private interests that it serves. And the United States Congress really has no oversight of what the Fed does. And some political leaders like Ron Paul have expressed concern about this. To a certain degree, banking and corporate interests have superseded the national interest. Lobbyists in Washington, DC perhaps have more influence on elected officials than the people who elected them.
schtooch 2 years ago
schtooch,
I agree with most of what you said. Except that the following sentence:
>>Some banks and financial institutions and companies are just too big or too essential to the economy to fail
...is hogwash. There is no such thing as too big to fail. The is media-propagated b.s. and part of Paulson's blackmail technique for the Bush bailout. Funny thing is: all the things he said would happen if the bailout didn't occur are happening anyway... some of them as a direct result.
magichandpuppet 2 years ago 2
magicandpuppet,
You make a good point. Thanks for your comments.
schtooch 2 years ago
cheers mate!
magichandpuppet 2 years ago
schtooch,
but I totally agree with you on all of your other points. A great book that talks about this kind of thing is The Creature From Jeckyll Island.
magichandpuppet 2 years ago
Whoops! Sorry wrong person!!!
DarthCheney420 3 years ago
I think capitolism works pretty well. The only flaw though is when corporations merge with each other and then with the government. When that happens, capitolism turns into fascism
DarthCheney420 3 years ago 2
Switzerland is a Federalist in structure. Just like America and forefathers wanted here.
The bottom line is summed up by our forefathers. "Freedom is not to do what one wants, but what one ought." Because when citizens call on the government. At that very moment they have given up a portion of their Creators given freedom.
charleydan 3 years ago 6
A accidental click that was supposed to give you a thumbs up... Sorry
PGAJAMIE411 3 years ago
This comment has received too many negative votes show
This is a load of rubbish! Switzerland is a direct democracy and it's very stable and prosperous.
Medeasbiggestfan 3 years ago
This comment has received too many negative votes show
The other video was interesting but in this video he sets up a straw man argument by completely distorting the meaning of the term "capitalism".
-capitalism-
"an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market "
--merriam-webster online dictionary.
PimpOfPixels 3 years ago
Private Industry has MANY owners with personal accountability(unless subsidized by government) versus a government system that really has no accountability because they are controlling the collectivists (everybodys goods). Capitalism is freedom, it is not the republicans supply-side economics and it is not the democrats demand-side economics. People often associate the republicans with free markets but they are not....they are for big government as well. All-in-all capitalism is best!
shanklinmike 3 years ago 4
I think capitolism works pretty well. The only flaw though is when corporations merge with each other and then with the government. When that happens, capitolism turns into fascism
DarthCheney420 3 years ago 12
Its "only flaw" will lead to its destruction.
Jenaro1234 2 years ago
@DarthCheney420
well that's why we have anti-trust laws, the 'big banks' pretty much got a pass by both administrations to become Monopolies in fact the biggest Monopoly we have banking wise is the Federal Reserve and its branches in Fannie May and Freddie Mac. If we used the laws on the books, we wouldnt have to spend a penny to bail them out, just force them to downsize or go under.
avdquick 6 months ago
This series is good material to be used as an educational tool in America's Public "fool" system.
MiddletownDreamz 3 years ago 3
This sounds familiar.
KKKn50cal 3 years ago 2
watch Michael Badnarick's constitution class
bigjon1359 3 years ago
Very educational, five stars.
slavophile1 4 years ago 2
Land is also capital. Why do all governments perpetuate poverty by not allowing people to claim unused land so that they can live without being the slaves of "landlords"? Like access to air and water and food, all human beings have an inalienable right to occupy space. God gave the earth to everyone. You cannot hoard land and force others to live like slaves paying you for the right to take up space. Where's my space on this planet? I have no right to live on land except that gov't grants it?
MillionthUsername 4 years ago
Our gov by signing trade agreement with foreign nations are eliminating our ability to compete with the corps who buy and sell our legislators.We know longer live in a capitalist system
hamace 3 years ago
We need a permanent "Republic"
AiresQX4 4 years ago 6
Great Video fact based videos I'm making a playlist of using all four thank you...
johnreon 4 years ago 5
i have been looking for this video for so long
prepaidpasadena 4 years ago 5
Even though i still see an unseen hand operating in most all cases, a true, open republic is what is needed to control our gov... no secrecy, no secret meetings, no national security statement on everything... pathetic... our rogue gov must go
klonedklein 4 years ago 7