GGN- Stiglitz: US Does Not Have Capitalism Now

http://www.infowars.com/us-does-not-have-capitalism-now-stiglitz/
Layers of money managers that dont bear the brunt of losses but walk away with big payouts when things go well have turned the US economy to a type of ersatz capitalism, Joseph Stiglitz, Columbia University professor and Nobel laureate, told CNBC Tuesday.

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[jhunted7667]

we need competition to keep prices down and quality up in our own products , now we don't make anything anymore , so either we make products again or we starve

[jhunted7667]

@wallstreetatheist the only choice for people of Conscience that want to save the nation as a Constitutional republic must vote for Ron Paul ,

[WurledPeas]

@eddieisfiction It's more than propaganda. It has become a religion. One willing to eat your children to enforce it's doctrines. It's not so simple as mere propaganda. And yeah, there are elements of the corporate elite running things, but make no mistake. The polar opposite in the bureaucrat ranks are doing their share to eliminate freedom as well.

[WurledPeas]

@eddieisfiction And they would not have the same clout without government to do their bidding. They utilize despots to get what they want. There is no leveling off of blame. They want something they cannot get so they bribe a government to enforce their wants. The despot gets a bribe. The local tax payer finances his own oppression and the corporation profits. Not all big corporations chose this tactic yet most governments have and many(ours, China, Russia ect.) still do. It's inevitable.

[WurledPeas]

@eddieisfiction There were very few taxes. Very few. Now I pay well in excess of 50%. And they generally paid for the private wishes of a minority made public.

[eddieisfiction]

@WurledPeas also my main argument is, dont fall for the capitalism vs communism gag... its a propaganda machine. There never really was communism in russia or china... they were military dictatorships using economics for propaganda. I mean lets get real here. Government getting too much power is bad. I totally agree. However in the US, Americans dont seem to understand its not the government thats controlling things, its corporatism.

[eddieisfiction]

@WurledPeas yes I heard, they were able to level off the blame... however coca cola wasnt able to do that.... neither were designer clothes companies.... nike... etc.

hell even firestone has issues in mexico, a few other american companies do the same thing just south of the border, and use intimidation tactics just like the cartel does.

point being, dont just fear governments, fear power in general, its not always the governments that have it.

[eddieisfiction]

@WurledPeas there were taxes back in the day, they just werent the same kind... Never claimed the taxes had to come from federal dollars.

[WurledPeas]

@eddieisfiction Not necessarily. This country was doing well prior to taxation of income by force of arms. You do realize the first highway system and railroads were built privately? My Grandfather established the water district my city uses now. He cut the first road between my town and the one 8 miles over hill away. Strung the first phone lines from our town to another 7 miles away. Privately and with permission of the involved land holders.

[WurledPeas]

@eddieisfiction I need not look it up. I own a farm not far from one of Dole's pineapple plantations in Philippines. You fail to mention one thing: It was government that facilitated those thefts of properties and murders. It was not the sugar and cattle moguls who took Hawaii or lands in Honduras for corporate interests. It was the Marines and army. I doubt I need to mention it to you but others may want to read "War is a Racket by Gen. Smedley Butler.

[eddieisfiction]

@WurledPeas indeed thats true... however thats not true for coca cola, or designer clothes companies. Or Dole Bananas.

lol see look those up, then youll cringe. Especially Dole Bananas.

[eddieisfiction]

certainly... plus the less the government has power in a capitalist country.. the more likely specific private citizens do...

If you dont have the proper balance, its no longer capitalism, its monetary monopolized polygarchy