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777 Comments
- Berkana, on 11/21/2008, -16/+288What we're seeing is actually the consequences of fractional reserve banking and monetizing debt. This crisis we're in has nothing to do with capitalism, and everything to do with debt and the trading of debt.
http://digg.com/business_finance/Our_Debt_based_Mo ... - m0llusk, on 11/21/2008, -85/+307It's called a business cycle and it's about renewal. This guy is just bitter and mean and doesn't have any real fixes, just shrill criticism.
- Lavarock, on 11/21/2008, -15/+205The Senate was the group that managed banking and caused this crisis, and now they're paying out for the mistakes they made. This problem is not due to the free market. We don't have a free market.
- inactive, on 11/21/2008, -48/+207I can hear the donuts in his voice
- Kajico, on 11/21/2008, -21/+154"Capitalism is Dead" says the man who profits from books and movies and has a net worth in the millions.
- elipabst, on 11/21/2008, -8/+135The US hasn't been a "pure" capitalist society for a long time, if ever. There has always been a massive government influence and there is a *lot* more now than there has ever been, especially compared to early parts of the 20th century. This implosion has been largely due to one small sector of the economy (banking and in particular mortgage-backed securities trading) and unfortunately unrelated parts of the economy are feeling the effects. The US still has a gigantic GDP that isn't going away any time soon. But hate on anyway....
- inactive, on 11/21/2008, -17/+130What the Bush administration has done has nothing to do with capitalism. How exactly is bailing out banks capitalism?
http://www.lewrockwell.com/paul/paul42.html - DonJuanAussi, on 11/20/2008, -111/+222What the world has seen for the past 20 years, but many Americans have not been exposed to, is that "pure economic ideology" does not work. It is not just Communism that does not work, it is pure Capitalism (complete trust in the market place to self regulate).
I suspect it will take half a lifetime for the current American ideology to fully correct itself into a more moderate form of economy, but it is long overdue. - doogmeist1, on 11/21/2008, -71/+164Why the FRACK is Michael Moore not out there, in their faces, trying to get some damn answers?
Wasn't he great at that stuff? Why isn't he camped out by AIG Liddy's house to ask the tough questions? Why isn't he beating down the doors of the big 3 to ask why they flew private jets to go beg for $25 Billion from the government?
The simple answer is that Michael finally made it. He is an elite now. He got his fortune and it is safe enough that he can live it up nicely in France for years to come. Now he prefers rubbing elbows with the Dem elites at Manhattan cocktail parties.
Too bad. - kaosethema, on 11/21/2008, -36/+118actually, capitalism does not mean freedom: http://dictionary.reference.com/browse/capitalism
it's the opposite of socialism in that a minority carries the wealth while in the other the majority carries the wealth.
both systems work just fine until you add the human factor.
BTW: Capitalism has nothing to do with Democracy. - KirbyMeister, on 11/21/2008, -10/+75What pure capitalism? The government controls a lot of the market, they control the currency, and they regulate everything. And they're the most greediest out there. On it's own the free market keeps greed in check (mostly) but then we have a government which is easily corruptible and isn't held accountable by it's constituents; then people start abusing the government. And they encourage it so they get money so that they get elected. Suddently, our Trusted Officials say we need to start spending other people's money to pay off someone else's debts. And that's what government does, it's just being loose with other people's money.
What we're seeing, is not the end of capitalism. Capitalism will always exist so long as there's two people that want to trade goods and can make a profit from doing so. What we're seeing, is the consequence of the government manipulating the economy via the Fed. They can continue to spend massive amounts of other people's money because they can tax people, and once that's gone they can then print more money to steal more value. And then they use that money to help their political buddies at the expense of business everywhere. - laidoff, on 11/21/2008, -27/+92When did Michael Moore become an expert in economics? He has more credibility talking recipes...
- Phernoree, on 11/21/2008, -18/+77What we're seeing is the end of 'Capitalism gone horribly wrong.'
- Clark1984, on 11/21/2008, -25/+83Its really hard to take Michael Moore seriously. He seems like that crazy guy you would meet at a truck stop who's diet consists of Rockstar Energy drinks and Hot Stuff Pizza.
Good riddance to Capitalism? We haven't let capitalism work for as long as I've been alive. This makes me angry. - CoreyTamas, on 11/21/2008, -9/+65"Frack"?
Dude. - ih8regs, on 11/21/2008, -21/+76Manipulative scum bag. What's been going on isn't capitalism, but corporatism, a form of collectivism, and the proposed "solution," socialism, aka more collectivism, is not the answer.
- Paulish, on 11/21/2008, -7/+60Our current "Capitalism" is not the same as completely free markets. I am suprised that I agree with Moore in is assesment that these people in power don't ACTUALLY want free markets, because now they are begging for money.
I disagree with what he thinks should happen. It sounds like he wants these companies to be bailed out, but for the government to control them. Sounds like corporate fascism to me.
So while I hope our current concept of "capitalism" is dieing, I hope we can have a new kind of capitalism that is more in the spirit of truly free markets. - j1ggy, on 11/21/2008, -3/+53Why aren't you?
- bicyclethief, on 11/21/2008, -6/+53Capitalism functions on greed.
- Loqheed, on 11/21/2008, -3/+46This is very true... contrary to popular belief we are very FAR from a wholly capitalistic society. There have been regions that are far more capitalist (Hong Kong/Singapore). Have you looked at all the rules and regulations involved in conducting business in America? Ever wonder why so many corporations have offshore offices in the Caribbean?
- superkendall, on 11/21/2008, -15/+57What you have seen in the past FIVE years or so is the result of applying too much regulation to markets. That is what does not work. Markets work ONLY if able to self correct - and a hint there is that huge government bailouts for companies that should fold is the OPPOSITE of a market self-correcting.
- tgc1, on 11/21/2008, -6/+45And what part of the business cycle includes a bailout? Can you refer me to that textbook please? I don't think I have that in my one.
- 0260, on 11/21/2008, -9/+47my family left the motherland for USA thinking this will never happen
- kenhatesemos, on 11/21/2008, -8/+44michael moore is filming his next documentary right now. what are you talking about?
- shig, on 11/21/2008, -9/+45Fools!
It's called a "mixed economy", "the third way", or simply "centrism", and we've had one since... forever.
* People can own their own businesses, but political leaders make policies concerning these.
* The government controls the mail system.
* The government controls most of the road networks.
* Waste collection and treatment are usually provided as a service by the local government.
* The government has a virtual monopoly on the provision of policing.
* Intercity passenger rail (Amtrak) is a nationalized industry, as are almost all local trains.
* All American airports are government operated but all American airlines are private.
* The government tells manufacturers what to make if something is in need during war time.
* The FDA bans certain drugs.
* The government has created a minimum wage law.
* The government provides social welfare payments to some citizens.
* The majority of pre-college education is government-provided
* Ad infinitum, since recent economic developments such as bailouts and proposed carbon credits.
PLEASE! Do us all a favor, and regard Michael Moore's economic insights as little more than the musings of a popular hipster. - oboshoe, on 11/21/2008, -23/+57Capitalism has been very kind to Michael Moore.
If we had the kind of society that Moore wishes for, he would be jailed for making the kind of movies he does. - kemp34, on 11/21/2008, -69/+103Why are you on Digg? It's a capitalist endeavor. Capitalism simply means freedom.
Corporatism or fascism is bad, yes that needs to go, but capitalism is not the same as theses scourges and will not go anywhere so long as people care about their own ability to live free.
Do you advocate total economic tyranny? - jon31rm, on 11/21/2008, -8/+42http://www.iousathemovie.com/
This is why the economy is failing. Free-market capitalism has nothing to do with it. Sure, Bush campaigned using free-market conservative rhetoric, but what we got was bigger government and more government intervention which has led to this financial crisis. Big government has been in bed with big business for too long, and fortunately, both will soon collapse. - Netik09, on 11/21/2008, -31/+64Yeah. Pure capitalism leaves the door wide open for greed.
- RyFo18, on 11/21/2008, -3/+35Yeah but did you listen to this? I disagree with him on many other views, but he is dead on with the fact that its ***** that these CEO's are getting multi-million dollar bonuses when their companies are losing billions.
- seeingright, on 11/21/2008, -63/+95This guy is the worst jerk in the world.. anyone that believes Moore is smoking way too much dope. I rarely use the word hate, but I literally hate this guy and everything he represents.. this guy belongs in a circus full of monkeys.
- Bojanglesmn, on 11/21/2008, -4/+36Thank you. I ***** cringe every time someone blames this ***** on capitalism, even though we haven't seen a free market in over a century at least. How can you fault a system that we haven't even been using? We've been mixed and trending towards socialism for quite awhile now.
- StormCommander, on 11/21/2008, -15/+46wtf?
Democracy is not freedom O_o
Why would you want to be ruled by a tyrannical majority? You own your life, not a majority. Democracy is two wolves and a sheep deciding what to have for dinner. - manoftheisland, on 11/21/2008, -6/+36The issue is not capitalism as an idea it is the people taking illegal advantages to it like Fanny Mae and Freddie Mac pay outs to members of congress... this ENTIRE economic slow down could have avoided if the housing market hadn't collapsed... how did it collapse? people who shouldn't get loans getting loans. how did they get loans? the government telling banks they have to loan a certain percentage to unqualified people. (not capitalistic more communist then anything.) Fanny Mae and Freddie mac bought all these bad loans so the top guys would hit their asset goals so they got huge 10's of millions bonuses... that is the problem... the problem are people like Jim Johnson, Barney Frank, Christopher Dodd. people who did not lose their jobs when they FAILED AT THEM. if i had been incharge of overlooking a section of the economy then it failed i would be canned. and they should be too. these bail outs are just making it worse... its not about the bail outs its about the government trying to control as much as they can! I find fault with Bush and the libs getting payback from places like fanny & freddie
WAKE UP PEOPLE! - edebolt, on 11/21/2008, -52/+81Moore hasn't seen his feet over that huge gut in years.... who cares? is he an economist now?
- StormCommander, on 11/21/2008, -30/+56Are you aware that these economic problems were caused by anti-capitalist principles... socialism, etc. How can Moore bash socialism and capitalism at the same time? Oh yah, he's an idiot.
- bicyclethief, on 11/21/2008, -10/+36Hey, shut it America's hat.
- kolinkoolface2, on 11/21/2008, -6/+30yea too bad America does not = capitalism. This country was created on the notion of the people being in control under a constitution i.e. a republic. There was never the notion of having a central bank control the money supply.... The Federal Reserve. Adam smith denounces central banking and corporations, all of which go against the ideals of free market capitalism. As soon as the federal reserve entered the equation, the idea of capitalism went out the window.
- alais, on 11/21/2008, -5/+29Blame the UAW.
- CaptCarrot, on 11/21/2008, -0/+23Businesses fail. People suffer. "Life obliges us with hardships." But where one fails, another one that has a better idea steps in -- and when have we ever known the government to be an entity with a better idea?
- thecoolestguy, on 11/21/2008, -0/+23ookees, the debt comes from violating the free market with coercive central control of the banking system via the federal reserve system.
- FadieZ, on 11/21/2008, -2/+25I can't tell if this is a joke or not but in case you're serious: Michael Moore's next documentary is in production as we speak and it talks about exactly what you just said.
- latrosicarius, on 11/21/2008, -8/+31remember that time when Congress, delusional with the hopeless pipedream of "affordable housing", passed laws allowing and directing the Fed to commission companies to insure and back ridiculous levels of bank debt and print more fiat paper money to cover the losses, so lenders could give mortgages to anyone who walked in the door, even if they couldn't possibly pay their monthly bills?
Oh yeah, i forgot... that's now. Doesn't sound too capitalistic to me. And look where it got us. Government interference is really good if you like bubbles and bailouts. - thecoolestguy, on 11/21/2008, -3/+26The last 20 years have NOT been pure capitalism. Free markets are a thing of the past. You need a law degree to be able to comply with all regulations in the marketplace.
- arpad, on 11/21/2008, -18/+40Yeah, as a matter of fact.
It also means freedom to wealthy diggers who can sit around and pretend to give a damn about poor people by announcing how much they hate capitalism. - superkendall, on 11/21/2008, -4/+26Yet if you lived in Japan you'd see happy thriving plants. Are you blaming capitalism or should you in fact just blame the company for bad management, and labor unions that suck the life right out of the companies until only the husk you see daily is left?
- icndvl, on 11/21/2008, -4/+26People will always find a way to ***** themselves under any system.
- theskillwithin, on 11/21/2008, -7/+28i agree, but this is an excuse to scare a country into a downword spiral into communism. whereas the market would eventually come back up-people forget that and seek instant solutions.
- JoeB4ever, on 11/21/2008, -3/+23Am I the only person concerned about how do we fix it instead of who's fault it is?
- dave11980, on 11/21/2008, -3/+23You just can't save everyone from everything. That was the mentality of communism and the sad truth was that all but the homeless man on the street in America had it better than the average person under Communism. In a growing economy people losing their jobs during self correction will have other jobs they can get. Since we prevented self-correction for so long we now have a shrinking economy and those people loosing their jobs won't be able to find new ones.
Bottom line, you can't stop the free markets, only delay it's outcome - and when it comes it will be harsher. -
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