pmoney25;1210398 wrote:I dont quite recall this true market capitalism you think has been going on the last 30yrs.
It's pretty easy to find actually. Free market capitalism has been the catalyst for the outsourcing of millions and millions of American jobs. Free market capitalism over the past 35 years has resulted in CEO's annual income rising 400x...vs....0 times for the hard working, middle class. In fact, inflation adjusted, people make less today than they did in the 1980's. Free market capitalism is directly responsible for the banking monstrocity of 2008. (Cue repeal of Glass Steagal]. Free market capitalism had allowed the comglomerates to become oligopolies which through shear power in numbers control where government tax dollars are allocated...including endless wars...and other corporate welfare programs that permeate American governance today. Free market capitalism has enabled collusion amongst the investment banks to price fix interest "spreads" to protect themselves and keep their bottom lines roaring strong....at the expense of tens of millions of Americans. People who worked hard, saved up a down payment, bought a home, moved in celebrating success and the American dream, only to see the bubble pop and the subsequent foreclosures....as in underwater mortgages. Ever wonder how the banks paid off that 800 billion so quickly that the tax payers "loaned them"? It's called lowering the interest rates across the board for the most fiscally sound American middle class members investments...from their money markets, checking and savings accounts. It's called legalized thievery through corporate collusion of the banking cartel. Thank you unregulated, free market system. Free market capitalism has loosened the reigns of fair competition as established way back in 1890, The first anti trust laws (Sherman) was put in place to seatbelt collusive practices. Deregulation of said laws has enabled the banking industry to thieve 40% of the American Wealth from the hard working middle class. (Middle class encomposing those making between 40-500K per year.)
Free market capitalism has enticed corporate America to offshore any and all manufacturing in order to circumvent the workers' human rights placed into US law regarding safety, workman's comp, minimum wages, 40 hour work week, clean air, clean water and the legal right to collectively bargain. Thank you unbridled free market. You want third world? Thank an Austrian economist who loves to turn blind eyes to the criminality that Adam Smith oh so warned us about.
The pro Austrian schoolers need to wake up and recognize exactly was has happened over the past 35 years and realize that laissez faire, as described by Adam Smith is never going to provide a progressing society. Never. It's been tried...and now it is failing....miserably. Our society from an economics point of view has witnessed the complete destruction of the American dream. It's no longer there. And...it matters not who is in power...D's or R's. They are bought and paid for by the powerful. Thank you free market capitalism and the bastardization of the lobby system that our forefathers initiated. Nobody wants over regulation....but no regulationat all is 100 times worse for Americans collectively or aggregately. You want to make a prophet out of Karl Marx and Frederich Engels? Do you want a system whereby 1% of the people control 99% of the wealth? Are we in fact headed for a proletariat/bourgeosie state as the commie writers listed above wrote in the mid 1800's? Well, that's what you will have...and it's coming fast and furious...as the numbers over the past 35 years clearly bear it out.