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Is the Economic Crisis in America Proof That Capitalism Doesn't Work?

Freefall 2012/09/27 12:44:19
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After decades of hideous overspending in America, the "living beyond your means" game may finally be up. America and other countries have been "kicking the can down the road" since the 1970's restructuring debt around lavish pensions and social welfare funding and state sector employment in order to entice the voters.
It was all a house of cards. and America can't afford another bail-out... the results are riots in the streets. Is this the final nail for capitalism?

Minor scuffles broke out between protesters and police as thousands of Americans took to the streets to protest.
occupy protesters clash with police

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  • TuringsChild 2012/09/27 12:59:13
    No
    TuringsChild
    +16
    It's proof that any moron can throw a monkeywrench into a finely built machine and it will suffer the consequences. The economic crisis we are experiencing was ORCHESTRATED by greedy men using old Cold War propaganda weapons left behind by the Soviet Union.

    Capitalism is NOT about living beyond your means. It's about the ability to own property and to use it to create wealth.

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Opinions

  • TheOther 2012/10/26 21:51:29
  • This is W³ 2012/10/18 14:09:11
    I think
    This is W³
    ...it is certainly not the best form of government out there.
  • Warren - Novus Ordo Seclorum 2012/10/17 19:13:18
    I think
    Warren - Novus Ordo Seclorum
    What we are seeing now is a symptom, not a proof of capitalism's inherent unsustainability. The proof of capitalisms failure resides in its fundamental violation of basic thermodynamic principles. You cannot have infinite growth in a finite world, and without infinite growth, capitalism collapses. It is the world's greatest Ponzi scheme.
  • gumybare69 2012/10/11 20:27:57
    I think
    gumybare69
    I think capitalism works fine, but people need to be smarter.
  • Transquesta 2012/10/10 07:55:53 (edited)
    No
    Transquesta
    You have it exactly backwards. The economic crisis (the world over) is proof that socialism doesn't work.
  • itkermy 2012/10/09 12:49:47
    I think
    itkermy
    +2
    All those voting no better be voting Gary Johnson this time around.
  • Dagon 2012/10/06 18:13:09 (edited)
  • Swan Eshdeh 2012/10/05 20:12:47
    Yes
    Swan Eshdeh
    +1
    i think so
  • DoxieDad 2012/10/01 03:09:49
    No
    DoxieDad
    +2
    The economic crisis in the US is proof our fractured partisan government does not work.
    Capitalism with rules works very well if it didn't the Chinese and Russians would not be trying to copy it so hard.
  • William 2012/10/01 03:02:45
    No
    William
    +2
    Not sure what you mean by capitalism:

    SEC, FDA, DEA, BATF, DHS, SS, EPA, IRS, ADD, DOE, ED, USDA, BLM, CBP, PTO, AHRQ, ACHP, Amtrak, USPS, ARC, ACE, BBG, CFP, CFSAN, DOC, CPD, COPS, DTRA, DOJ, DOL, DOI, DOS, DOT, HUD, EDA, EBAA, EIBOS, EEOC, FHEO, FAA, FCA, FCSIC, FSB, FCSIC, FDIC, FHSA, FS, FSAC, FTA, FTC, FRS, FRA, Fannie Mae, Freddie Mac, FMCSA, GNMA, HRSA, ICE, BIS, BIA, ITC, USMS, Medicaid, Medicare, NDIC, NEC, NLRB, NMB, NNSA, NSB, NSA, NTIA, NTIS, NTSB, NWTRB, NRB, OSHA, ONDCP, OPIC, OCC, PBGC, PHMSA, PIH, RRB, RUS, SBA, SSA, SSS, TVA, TDA, TSA, USAID, USACE, CFTC, USTDA, VETS, VEF and WAPA.

    The only "free" market here is the free and open competition between federal agencies vying for oversight. This list is only a partial list of federal government agencies that regulate or distort the economy. Neither does this include State, county, municipal and community laws and regulations.
  • NoBama Man 2012/09/30 09:05:12
    No
    NoBama Man
    +1
    The problem isn't with capitalism...it is the ONLY system that does work for everybody...
    that is why people from EVERYWHERE in the world will sacrifice EVERYTHING and risk their lives to come to America...
    What it is time for...is for other countries that have sucked off the teet of American capitalism for a century now to PROVE THEIR system is better....

    151 of 192 nations on the globe receive US dollars in some form of 'aid' every year.
    including N. Korea, Russia, Venezuela, and Cuba.
    America (unbelievably) borrows money from China...and then sends them billions in 'aid'.
    2 billion a year to Egypt....4 billion to Pakistan...

    American is BORROWING trillions of dollars and giving it, NOT LOANING IT, to countries and regimes that openly hate us and do not believe in capitalism...as well as some of the richest countries in the world ruled under KINGS and monarchy's as their population wallows in poverty.

    America and it's 'capitalism' has been the most prosperous and generous nation the world has ever know...
    we have freed the world and we have fed the world...on our dime...only to be told we are wrong and we are the bad guy....

    International disaster after international disaster, this country and it's 'greedy' people have risen up with private donations from citizens in the...









    The problem isn't with capitalism...it is the ONLY system that does work for everybody...
    that is why people from EVERYWHERE in the world will sacrifice EVERYTHING and risk their lives to come to America...
    What it is time for...is for other countries that have sucked off the teet of American capitalism for a century now to PROVE THEIR system is better....

    151 of 192 nations on the globe receive US dollars in some form of 'aid' every year.
    including N. Korea, Russia, Venezuela, and Cuba.
    America (unbelievably) borrows money from China...and then sends them billions in 'aid'.
    2 billion a year to Egypt....4 billion to Pakistan...

    American is BORROWING trillions of dollars and giving it, NOT LOANING IT, to countries and regimes that openly hate us and do not believe in capitalism...as well as some of the richest countries in the world ruled under KINGS and monarchy's as their population wallows in poverty.

    America and it's 'capitalism' has been the most prosperous and generous nation the world has ever know...
    we have freed the world and we have fed the world...on our dime...only to be told we are wrong and we are the bad guy....

    International disaster after international disaster, this country and it's 'greedy' people have risen up with private donations from citizens in the billions and state of the art resources paid by taxpayers...and it NEVER is reciprocated...not for 9/11 or Katrina...we were on our own...

    The jig is up...it is time to close the doors....
    It is time the world takes care of itself...no more US dollars...and if you owe the US...it's time to pay up.
    no more illegal immigrants seeking a 'better life'...stay home and fix your own country...no more free money...no more bankrupting our schools and healthcare with illegal immigrants...

    no more free rides...it's time to take care of our own.

    Let's play by these rules for a while...and see which 'system' rises to the top again...how about that ???

    reagan
    (more)
  • toni 2012/09/29 23:05:34
    No
    toni
    +1
    We don't have capitalism. We have a government owned and operated by big business.
  • Manwé 2012/09/29 16:42:23
    No
    Manwé
    +1
    What is proves is that capitalism without controls does not work. Dodd Frank and other acts that put limits on the system kept it working.
  • S. Gompers 2012/09/29 11:20:15
    No
    S. Gompers
    +1
    It is proof that Keynesian economics and Corporatocracy do not work.
  • CHUCK 2012/09/28 23:49:26
    No
    CHUCK
    +1
    JUST MIS MANAGEMENT..
  • goblue1968 2012/09/28 23:40:28
    No
    goblue1968
    +2
    NOPE!!
    As the people who are complaining about how capitalism doesn't work are enjoying the highest standard of living ever experienced in the history of mankind due to the wealth generated by the free application of capitalistic principles!
  • reaper 2012/09/28 17:50:10
    I think
    reaper
    +1
    the form of Capitalism cons want to follow is a corruption of what adam smith wrote about. and apparently, i hear marx spoke well of smith to. just didn't like what people turned his system into.
  • Pedro Doller ~Inc. 2012/09/28 11:21:57
    No
    Pedro Doller ~Inc.
    The economic crisis was caused by Larry Summers, Bill Clinton and Allen Greenspan. Banks buying $1.4 Quadrillion of unsecured derivatives is not an economic system. The Fed printing money and giving it to every swinging dick around the planet, is not an economic system.
  • SmittenKitten 2012/09/28 08:40:25
  • Bilingual required sucks 2012/09/28 07:04:45
    Yes
    Bilingual required sucks
    +2
    Capitalism sucks.
  • James 2012/09/28 02:50:00
    No
    James
    +2
    It's not that capitalism doesn't work, its the fact that we elect people who are not fiscally prudent with our money so we have to keep borrowing it from someone else. Let's get back to the economic policies during the Clinton era.
  • ur XLNC-PWCM 2012/09/28 02:01:14
    No
    ur XLNC-PWCM
    +3
    Capitalism works just fine. Our problem is one of the products up for sale is the Congressman's vote, and of course, those with the largest bid get the product.
  • voice_matters 2012/09/28 00:10:07
    No
    voice_matters
    If occupy movements win then America is destroyed. I would like the libs to tell me how the government gets its money without the capitalist movement
  • santa6642 2012/09/27 23:50:33
    No
    santa6642
    +1
    Socialism doesn;t work, get it right.-
  • BigFig#9 2012/09/27 22:56:01
    I think
    BigFig#9
    +4
    I think we're all too committed to 'pure' concepts of Capitalism and Socialism when those are wonderful philosophical and economic models but neither can nor will succeed in anything close to a pure form and what we really argue about are very small incrementally more capitalist or more socialistic models. I laugh at people saying that returning to Clinton era tax rates would be redistributing the wealth.... Of course it is AS is any change in taxation policy and yet we didn't have arguments about redistributing wealth upward when those rates were put in place or when the K gains were changed???? Why not? ALL taxation will have a redistributive impact and what we have to understand is the net impact of those policies on the overall economy. If you can make a legitimate argument that a 4% change in high income marginal rates will damage the economy and get some plurality at least of real economists to say that that impact is worse than an alternative course, please show me the alternative course.
  • Pm BigFig#9 2012/09/28 20:47:53
    Pm
    Better yet, explain to us how raising the tax rates for anyone is good for the economy? If we raise taxes, it, in effect means we gave into congress' spending problem.
    Then, explain how raising capital gains tax will improve our economy?
  • Denny 2012/09/27 22:09:29
    No
    Denny
    +2
    Capitalism always works. It's when Lib idiots mess with it that it goes down the tubes.
  • BigFig#9 Denny 2012/09/27 23:03:34
    BigFig#9
    +4
    Capitalism (nor Socialism) exist in any pure form anywhere and there's always a balance to be struck.... It's pretty clear to the majority of economists that excesses of 'unfettered' capitalism were a driving force behind the 2008 collapse. Speculation and roller coaster rides and excess social costs (pollution, child labor, etc...) are what happens in truly no holds barred capitalism. Capitalism DOESN"T work for many products - military, roads, and other social goods...the devil's in the details of determining where that balance is and the purists who want full Capitalism or full Socialism are the traffic police on the road to ruin.
  • Pm BigFig#9 2012/09/28 20:55:59 (edited)
    Pm
    There are many socialist policies which work well in our current system of governing. You are right there is a balance of capitalism and socialism. The question is, where is the center, how much socialism can America afford to continue to be the global super power?
    Without capitalism, socialism wouldn't be possible. The large amount of tax revenue America rakes in each year proves how well capitalism works. As a whole, this country spends more than any other on socialist programs, while having lower tax rates than All ofter socialist countries.
    The problem we face now is the white house supported the occupy movements(anti capitalist). Their support showed to many what extent the liberals will go to raise taxes on us all.
  • RTHTGakaRoland 2012/09/27 22:09:22
    No
    RTHTGakaRoland
    +1
    It is proof that Capitalism is no longer Capitalism but Socialism or Fascism when corrupted by too much government regulation, taxation, intimidation, and "investment."

    crony socialism
  • CUDDLY BUT STILL CRABBY 2012/09/27 21:58:17
    No
    CUDDLY BUT STILL CRABBY
    +2
    Democrats are the cause of the economic crisis in America. Always have been.
  • Jeremiah CUDDLY ... 2012/09/28 00:28:06
    Jeremiah
    +2
    How so?
  • CUDDLY ... Jeremiah 2012/09/28 16:15:58
    CUDDLY BUT STILL CRABBY
    Google it.
  • Jeremiah CUDDLY ... 2012/09/28 17:50:44
    Jeremiah
    Google what? In other words, you have nothing but empty words.
  • Patriot Unit 2012/09/27 21:56:41
    No
    Patriot Unit
    +3
    Its not Capitalism's fault, our system has served us well, until the government and the progressive socialists put their dirty hands in the tile. Socialism, Communism. Marxism is all that the Progressives see. They never take the time to look at history, and the systems that they so dearly wish to live under.
  • Mark P. 2012/09/27 20:59:06
    No
    Mark P.
    +4
    Its proof that socialism doesn't work . That debt is caused by the government, not by capitalism.
  • Tea in the Harbor 2012/09/27 19:31:29
    No
    Tea in the Harbor
    +2
    It's proof that predatory capitalism doesn't work, but we learned that during the gilded age didn't we?
  • EllЕ 2012/09/27 18:58:23 (edited)
    No
    EllЕ
    +3
    It's prove that Liberalism / Progressivism doesn't work. (Social Programs, etc.)


    prove liberalism progressivism work social programs


    prove liberalism progressivism work social programs
  • Bilingu... EllЕ 2012/09/28 14:40:12
    Bilingual required sucks
    +1
    Lady you're from the Ukraine. We are NOT talking about Communism, get that through your thick skull. We are talking about Democratic Socialism or European style Socialism. We are NOT talking about the system you talk about where you could get one pair of shoes a year. You have no idea what you're talking about.
  • EllЕ Bilingu... 2012/09/28 15:00:28 (edited)
    EllЕ
    +1
    Ignorant & blind?

    One more time:

    ignorant blind democratic socialism ussr cased hyperinflation blind

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