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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 12:19 PM
Original message
Have we reached “Peak Capitalism”?
So let me see if I got this right . . .

Corporations and businesses seem to be trying to create a world where they can do business . . . without the need of additional business.

Corporations and businesses want demand, they just don’t want to pay the price necessary for that demand.

Corporations and businesses want us to consume until the sun goes down; they just don’t want us to work for them.

Problem is, one cannot exactly consume if they don’t have any spare income to consume with. If all of a worker’s money is overflowing into necessities, as it’s been doing for the past 30 or so years since wages have not been keeping up with the cost of living during that time, then excess consumption is either put on hold or on credit (often times debt is needed to keep up primary (necessity) consumption. And that’s a tragedy all its own).

Despite what conservatives (and conservatives who call themselves “Democrats”) assert, the American worker does NOT “make too much money” and in most of our lifetimes, they never have. If a worker’s wages kept up with inflation, productivity and cost of living these past three decades, their average pay should be around 60,000 dollars a year. With that kind of consistent green multiplied by millions, consumption should be no problem. American workers, on average, do not make anywhere NEAR that. In an average entry-level position, sons and daughters are now making ½ to 1/3 the wage their fathers and mothers used to, and work longer hours on top of it.

When the worker has a stagnant wage and cannot consume, naturally, demand is reduced. Just like the collective wealthy and their ever-increasing surplus of saved/invested/offshored monies, a worker’s void in spare cash represents money which does not flow into the American economy, causing a bottleneck in supply and layoffs/shuttering due to lack of demand.

You would think now that American companies can get mom AND dad for the same wage they used to be able to get mom OR dad with, we should be keeping up with the mass consumption vs. mass production cycle successfully. You would think that with 10 straight years of the Bush II tax cuts in full effect, there would be no reason for corporate “uncertainty”. You would think that since not a single thing has been enacted or taken away to make the “job creators” (snicker) lives one atom-speck more miserable, they would be wont to expand or hire, if trickle-on theory holds true.

You would think.

Except Mom and Dad, as it is, are now not just victims of one layoff, but multiple layoffs due to outsourcing, position elimination, cost cutting, poor management, etc. Each round of job cuts, each resulting recession becomes ever worse than the recession preceding it. This trend makes it far more difficult for us not only to drum up ever-needed demand, but also as a nation makes it harder to recover and destroys individual morale and trust in our supposedly benevolent economic system of Capitalism.

What’s more phenomenally galling is that either no one wants to admit there are more than a few grave problems with this system we blindly trusted for so many years, or that those who run, control and engineer its future refuse steadfastly to blame themselves and their monstrous greed FOR those problems.

More conservative pundits blather that the new realities of our economy demand that working adults get better skills; get on a fast track to “never-ending education”, as it were. In other words, they’re blaming the victim, something they do so well it’s practically second nature.

Never mind that we don’t have 4 to 6 extra hours in the day nor do we have money trees in our backyard to facilitate these supposed multiple trips to college over our working lifetime. Never mind that the burden of figuring out what particular skills we need to train for, which remains a complete unknown at this point, falls on the worker rather than the Corporate community. Never mind that higher education is more expensive and less accessible than any time in our history. We’d better just find a way to make it work and forget about that “family” or “social” thing because consumption and profit doesn’t stop for such crap and if you’re lucky enough to be allowed to work for us, you NEED this money and this job!

If the last decade of job numbers tell us anything, it’s evident that we’re all unwilling participants in what could be a very sobering turning point in the foundation of this nation’s prosperity. Just as there are a vocal few that insist we have hit “peak oil” . . . we may have already reached “Peak Capitalism”.

How is it that the supposed “most powerful nation and largest economy on Earth” has been so vastly incapable (or unwilling) of providing even below-average jobs for citizens that need them for a decade straight? Why is it that employers refuse to even consider the unemployed for hiring? Why is it that all bargaining power today belongs to the upper class and the working/middle/poor are now completely at their mercy? Why do we still abide by a system that crashes like clockwork every seven years and not even remotely consider instituting anything else?

Is the weak recovery merely due to intentional sabotage or are we simply dealing with the popping of a linear system that requires perpetual expansion, resources, wealth, and education and upgrades on the part of the workers to keep it working in a world where none of that exists?

I think the number one cause for all of this, and I’ll keep saying it, is simply our refusal to implement universal health care. This is why people aren’t in the streets – we’re too tethered to our jobs and the benefits (if we’re lucky to even get them) that come with it. This is why people worry – we’re forced to pay for our insurance out of pocket, which not only prevents us from saving, but also takes away our leverage. Entrepreneurship is discouraged due to health care costs. Striking out on your own becomes an unwise idea due to health care costs, which subsequently means you’ll remain at that lousy job and take whatever garbage your employer dishes out because you need those bennies. Corporations commit mass ageism . . . because of health care costs.

It’s because of this (well, and the fact that they’re just plain greedy and they don’t care) that companies are going cheaper and cheaper with each passing year – either by offshoring to other countries, inshoring from other countries or undercutting American workers and their wages.

It’s as if Big Business pretty much decided that, blue OR white collar, they don’t need us any more, but they still want us to buy.

How does business reconcile the fantasy of cost-friendly expansion with the reality of having to give up their exorbitant pay or economy-destroying tax breaks to make it happen?

Either way, we as a nation need to figure out real goddamned soon if we want to continue on with this system or start learning from our own mistakes and putting some more social-friendly safety nets in place.

I’m just saying the lower 98%, from the family sleeping in their car to the student/patient stressing how they’re going to pay the six-figure anvil around their necks to the couple struggling to make ends meet despite making good incomes doesn’t have all the time on the planet to know what to do. There’s only NOW and the bills in front of them.
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Jackpine Radical Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 12:45 PM
Response to Original message
1. "Peak capitalism!" I love the concept.
And everything you say is true. I myself have argued most of these points at one time or another.
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-15-11 06:22 AM
Response to Reply #1
37. It's More Like Peak Lawlessness
All the rules are either voided, broken, or unenforced, while the rule makers set up new, unenforceable or even infeasible ones.
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Jackpine Radical Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-15-11 10:05 AM
Response to Reply #37
40. Yes, exactly.
That's what I was envisioning Peak Capitalism to mean.
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Wed Jul-13-11 12:47 PM
Response to Original message
2. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
femrap Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 12:58 PM
Response to Original message
3. Great post.
I believe that w/o universal health care, creativity and entrepreneurship will continue to decline. Someone has a great idea, but is stuck at a mundane job WITH health care....can this person take the risk of leaving the job especially if others are dependent on that health care insurance?

The Corporations are not going to hire people....they're flush w/ cash and what do they do? If publicly traded, they buy back their stock and the price goes up. Working people starve. Rich shareholders go to the bank.

Once our manufacturing base left our shores, the decline began. We are living The Decline of the American Empire.

Let the Global Financial Crisis ensue so the workers of the world can unite. I hope GLOBAL CAPITALISM is nearing its death.

Sometimes I hope the Mayans and Hopis are correct and Mother Nature tilts on her axis and we start anew....exterminating the evil and cruelty of the ruling class along with the sycophant baggers.
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:11 PM
Response to Reply #3
5. Once manufacturing left our shores, a whole asston of people got left behind.
This is the tragic result of making someone do the same thing all of their lives and making them believe this is a great plan for the future.

No one thought of what we would do to replace the outgoing occupations and now, life is progressing faster than humans can keep up with it.

I mean, it stands to reason that many of the blue and white collar workers that are sitting idly by could be employed to repair and reconstruct our nation's general infrastructure. But with the long-term military follies and long-term economy-destroying tax cuts for the wealthy, how would we pay for it?

I sometimes wonder if we should fix the calendar to add at least 4 extra hours to the day. It sounds like a whimsical notion, but I don't believe 24 hours is working for the average human anymore. We lack the adequate amount of sleep we need, we have no time or money (or system, really)to properly educate ourselves and our commutes are getting ridiculously longer because of stricter corporate policies on telecommuting.

There's another issue - with all of these supposed advances in technology, where is it written that many of us HAVE to go to an office every day? That in itself represents a massive waste of fossil fuels and human well-being.
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femrap Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:44 PM
Response to Reply #5
14. This whole 're-education' was a
scam, imho. I couldn't believe it when I read that Student Loan debt is higher than Revolving Credit card debt!!

I remember when manufacturing jobs started their move overseas and the line from our 'leaders' was "We will become a Service Economy." I remember seeing lists by the gov't of the most needed jobs in the future: Janitors, cashiers, clerks, health aides.

Hey, learning how to say, 'Would you like fries that?' is the result.

Financial 'inventions' are just crap....derivatives? How does a derivative add value to our GDP? We're now just the United States of Casinos. All we do is pass pieces of green paper around.

Social Networking? How does that produce anything? Everyone is tweeting and Facebooking....how does that help our society except by providing a HUGE DISTRACTION? And the feeling of self-importance. Is Facebook really worth BILLIONS? I'm a Luddite...I just don't get it. And damned if I'm giving the gov't my private information.

We live in such an UN-NATURAL state...no wonder people are on anti-depressants. Or worse yet...meth, so they can work 2 jobs and get the household chores done. I guess many of our fellow citizens are now into prescription Pain Killers....yeah, numb oneself from the crappy reality we are faced with.

Shit, just legalize pot and let people relax in a more 'natural' way.

I worked in the UN-natural Corporate world and it sucked my heart and soul right out of me. And it has just gotten worse. They want us to be F*CKING ROBOTS!!!

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ljm2002 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:07 PM
Response to Original message
4. Your bolded items certainly get to the heart of the matter...
...first the emphasis on consuming; second the fact that the system as designed requires perpetual expansion; and third that the lack of universal health care ties the hands of employees in many ways, not to mention it also hampers U.S. businesses from being competitive.

Honestly, I think capitalism in its present form is simply not sustainable. That does not mean I favor a command-and-control economy, that would be worse. But we really need to rethink our systems. As it is, the profit motive certainly works to a point in unleashing work and creativity, but after that it veers off into destructive territory. For example, right now the capitalist system is happiest when people buy more and more new stuff, even if their old stuff is not broken. It also makes sense for businesses to build in obsolescence to things that, objectively, would make more sense to build to last. And it would be much easier on our environment if we built things to last rather than expect them to be replaced every year or two.

But how to design such a system? Is it merely a matter of accounting for the "externalities"? Could we design incentives that would make it sensible for businesses to build things to last?

Just musing on one aspect of the issues you bring up in your very interesting post.
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checks-n-balances Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:15 PM
Response to Original message
6. k&r
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arbusto_baboso Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:16 PM
Response to Original message
7. It's the "Cancer Stage of capitalism" as Thom Hartman calls it.
The stage where the cancer (unregulated capitalism) starts to kill its host (America), thus in the long run ensuring its own death, too.
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:36 PM
Response to Reply #7
11. "They'll sell you the rope to hang themselves with"
Or in our case, "Sell us the shovels to dig our graves", because the wealthy will remain pretty much immune to any collapse.

If this economic system is the greatest engine for prosperity, how's come socialistic practices are forced to bail it out every time it flops?

And if we've been this strong economic engine, why in the past 30 years has almost each and every period of prosperity been the result of a speculative bubble of some kind (S & L, credit, tech, housing, finance, etc)? Take those away, and the track record seems less than mediocre.
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Hydra Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 11:17 AM
Response to Reply #11
33. Socialism is the strong backbone
That Capitalism feeds off of. Even a fanatic Capitalist I spoke with one admitted this.

Socialism(everything from firefighters to road workers to regulators) builds our society up. The Capitalist part of it eats that growth away like a mold.

People first, not capital. The green pieces of paper are worthless without the labor behind it.
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reformist2 Donating Member (998 posts) Send PM | Profile | Ignore Wed Jul-13-11 01:23 PM
Response to Original message
8. A really interesting concept. It does appear to be true.

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defendandprotect Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:27 PM
Response to Original message
9. Unregulated capitalism is simply organized crime ... which is what the public is experiencing!!!
And our government is helping them do it!!

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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-15-11 06:23 AM
Response to Reply #9
38. +million--exactly
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hifiguy Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:27 PM
Response to Original message
10. You sir, are on to something here, big time.
Most insightful. Kicked and rec'd for brains and common sense.
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get the red out Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:37 PM
Response to Original message
12. I wondered about this
When the jobs were massively shipped overseas. How do you buy anything without making any money? My Dad used to say "what are we supposed to do when the jobs are all gone, make a living taking in each other's laundry?"
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:50 PM
Response to Reply #12
15.  . . . doing each other's hair, painting each other's rooms . . . .
. . . selling each other ropes to hang ourselves with . . .

Oh, that's another thought that keeps me up at night: what is everyone going to be doing for a living 5-20 years from now? There are so many unknowns and all of the conceptual jobs we're used to are slowly inching their way on "going away" lists. And at the same time, there is so much training to do for these unknowns and so little time and money with which to accomplish it.

Vaporware isn't a sustainable living and no one can sit there and tell me that whoever instituted this lousy system to begin with gave one iota or care to that concept.
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socialist_n_TN Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 01:43 PM
Response to Original message
13. I can live with "peak" capitalism........
as long as you can live with, "This is what the system has been working towards all along." Because it is.
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 02:12 PM
Response to Reply #13
17. And luckily & conveniently, the whole furshluginner mess falls RIGHT into our lap!
Who cares if we're never able to retire, right? Never-ending work and education builds character!

Makes me wonder if presidents, progressive taxation and regulation EVER mattered when the ever-present human element of greed would do their goddamnednest to topple all three?

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socialist_n_TN Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 02:21 PM
Response to Reply #17
18. I would say that they never did matter,
but they DID have to keep up the PRETENSE that they mattered because of a competing system. That system (as flawed as it was) is gone now and they don't have to pretend anymore.

As I and others have said often, it's the system not the players. We've got plenty of wealth, it's just concentrated in too few hands. And those hands won't let go without a reason. We have to give them a reason to let go.
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sulphurdunn Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-15-11 08:27 AM
Response to Reply #18
39. Yes, I've often thought
it wasn't Ronald Reagan who unleashed capitalism so much as it was the fall of the Soviet Union. That fall had nothing to do with the ability of socialism to compete with capitalism as an economic theory and everything to do with the feudal totalitarianism of the Soviet state.
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socialist_n_TN Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-15-11 11:46 AM
Response to Reply #39
41. Yep. The bureaucracy that Stalin instituted in the
20s pretty much, eventually, ruined the worker's democracy that was the USSR. And most other Communist Parties too. That deformed worker's state was the only model the other groups had to follow, so they went down that bureaucratic, hierarchal road too.

But even with all of it's faults, it WAS a competing system and, as such, kept the capitalists in some sort of check. When it fell, so did the pretense OF the capitalists.
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The2ndWheel Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 02:09 PM
Response to Original message
16. I'd say we're a little too tethered to all of our big institutions
Corporate or government. I'd say it goes beyond simply peak capitalism which a few additional safety nets may buffer.

You want people to have value? Build a human scale world, based upon the limits of human beings. This is clearly not what we have. We have a mass society, where each individual has less overall value, where you aren't needed to get the job done, and you're really not even needed to consume. Another example being this communication we're having. There really isn't anything human about it. People can't travel at 50, 60, 100mph. And of course it isn't people that travel that fast, or communicate over such long distances instantaneously. It would be our technology which allows us to do that.

So, what we have been creating is a reality for our technology. People are just along for the ride, and fit in where we can. We now mold people to the technology, instead of the other way around. I'm using technology as shorthand. It encompasses our social systems, economic systems, and all of our machines and gadgets as well. Basically whatever gives us a reach beyond our physical limits.

I think to call it peak capitalism would be far too easy. I'm not even sure peak is a good word to use, let alone what it would be a peaking of.
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Bigmack Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 02:34 PM
Response to Original message
19. The drug war in Mexico is....
a logical extension of Capitalism...

"Ciudad Juarez is all our futures. This is the inevitable war of capitalism gone mad
Mexico's drug cartels are actually pioneers of the global economy in their business logic and modus operandi"

http://www.guardian.co.uk/commentisfree/2011/jun/20/war...
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harun Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 02:38 PM
Response to Original message
20. Yes. Peak Democracy as well. Out system of gov't hasn't reformed
to meet the challenges we face. Only thing it get's accomplished is Corporate Welfare and War.
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 03:22 PM
Response to Reply #20
22. While fast depriving ourselves of any means of pay for it.
Thanks to the taxophobes that I describe above.

It's another interesting concept - how to bring in revenue without collecting the revenue. It's like everything they do defies logic but they think it's completely possible. Meantime, everyone suffers while they play.

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RevStPatrick Donating Member (564 posts) Send PM | Profile | Ignore Wed Jul-13-11 03:15 PM
Response to Original message
21. Peak Capitalism. I like this notion.
Along with calling it "profitizing" rather than "privatizing."
(someone here suggested that a couple of weeks ago)
Lots of good ideas here at the old DU.
Now we just need to figure out what to do about it...
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 05:21 PM
Response to Reply #21
24. Privatizing the wealth, socializing the risk and loss . . .
. . . Welcome to 21st Century Economics!
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freshwest Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 12:48 AM
Response to Reply #21
26. Yup, they've gone over the hill, all right. Welcome to DU
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guitar man Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 03:26 PM
Response to Original message
23. Good description
The effects of unadulterated greed by a very few, very priveleged individuals in our nation of 300 million is quickly reaching critical mass. They indeed don't even have to pretend anymore,they have bought the democratic process right out from under us lock, stock and barrel. We can vote until our arms fall off from pulling the damn levers and it won't make a bit of difference, not anymore.

Over the last decade, I became more and more concerned every time I saw someone from the big money and power class getting a pass on prosecution when it was apparent they were up to no good.... can't even get an investigation, whether it's Dumbya and Darth or big corporate guys, for the most part,they've become untouchable. Oh sure, they'll throw somebody to the dogs every once in a while to try and keep up the illusion, but it's somebody they were wanting to kick out of their club anyway.

So this is it, we have arrived at Plutocracy 2.0. The only question that remains is if/when all of us who aren't members of their very exclusive club are going to stop snapping and snarling at each other like they want us to do, and turn on them in a show of collective courage like we have done before in this country and do what needs to be done? Or will we simply descend quietly to our place as serfs and peasants in their 3rd world wet dream land?

It's a pretty sad and disgusting spectre, what we've become. :(
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-13-11 10:06 PM
Response to Original message
25. Shameless KICK for the night crew . . .
:kick:
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moondust Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 01:28 AM
Response to Original message
27. Maybe.
Know of any new industries springing up that promise to provide lots and lots of jobs exploiting something or other? Can capitalism exist and remain healthy without growth?
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nadinbrzezinski Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 01:37 AM
Response to Original message
28. Only one thing to pick with this
people WERE in the streets back in the 1880s... and the 1900s, and the 1930s, all the way to the 1960s

What we lack are leaders and MOVEMENT politics.

Conditions in the 1880s were far worst for the working class.

After that... we need a new name, because it is not... consumerism on the economic level, and inverted totalitarianism for the political.

Just a quibble on names though, because it is a brilliant OP.
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slay Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 03:10 AM
Response to Original message
29. I wish - no - they are just moving Capitalism overseas while they bleed us dry here
they'll run their little con game in India and other places as long as possible - Capitalism knows only profit, and overseas is where the profit is now. Oh these companies will still have lots to do with influencing American elections and making sure we don't clue into all the benefits of socialism. While I think it may have peaked here in the USA - it's not going away here anytime soon unfortunately. :(
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JHB Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 05:58 AM
Response to Original message
30. One of the paradoxes of capitalism is that...
...the system functions best (theoretically) by promoting competition and removing constraints on commerce.
But works best (is most profitable) for individual businesses is eliminating competition and controlling their market.

The incentives for performance on the small scale do not work toward the theoretical optimal state on the larger scale.
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Mosaic Donating Member (851 posts) Send PM | Profile | Ignore Thu Jul-14-11 06:34 AM
Response to Original message
31. capitalism has devolved into fascism
The nearly total control of our government and media by corporations mean capitalism corrupts human beings. It must be replaced by a better, fairer, superior system of economics and production. I think that may be Democratic Socialism, or call it something else but give people back their rightful power and eliminate the corrupt conservative 1%.
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Hydra Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 11:23 AM
Response to Reply #31
34. Logical progression
Capitalism is Fascism. They can do this because people have the illusion that they can be in the 1%.
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dogmoma56 Donating Member (329 posts) Send PM | Profile | Ignore Sat Jul-16-11 10:44 PM
Response to Reply #31
42. the Iron Law of Oligharcy.. >link>>>
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russspeakeasy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 10:26 AM
Response to Original message
32. How very well written. Thanks...
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Populist_Prole Donating Member (774 posts) Send PM | Profile | Ignore Thu Jul-14-11 12:33 PM
Response to Original message
35. A - one superb piece
Should be our manifesto.
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Taverner Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-14-11 03:58 PM
Response to Original message
36. This is a reality of Capitalism, that doesn't get mentioned much in Econ textbooks
But ask any classical economist, and they'll tell you "In the long run, inflation kills us all"

And that, is peak captialism
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dogmoma56 Donating Member (329 posts) Send PM | Profile | Ignore Sat Jul-16-11 10:46 PM
Response to Original message
43. “Peak Capitalism” is when the Rich have looted the last dime from the poor >link>>>
Edited on Sat Jul-16-11 10:49 PM by dogmoma56
http://sociology.ucsc.edu/whorulesamerica/power/wealth....

the richest 400 families hold 1.4 Trillion Dollars, and pay ~UNDER 17% income tax.. the richest 1% hold 43% of americas financial wealth, pay ~under 23% income tax- they hold 7 times the poorest 80%, richest 5% hold 73%-- 10 times the poorest 80%, richest 20% hold 93% of Financial Wealth... the poorest 80% hold only 7% of Financial Wealth.. that is why there is a recession...


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Blecht Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-16-11 10:48 PM
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44.  Error: you can only recommend threads which were started in the past 24 hours
But I can kick it.
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Desertrose Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-16-11 10:49 PM
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45. Excellent post. Thank you.
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