The tensions between socialism and capitalism never, ever go away.  The ideal system is one that is balances the two.  I am a devotee of the concept of ‘Libra’.  This is where one recognizes reality and not view everything through ideological glasses.  We only see a mirror of reality which means, things are often backwards but then, we see things literally through prisms in our eyes which sees the world upside down and then, our brains have to reverse things to look ‘normal’.  Ie: real.  The debate about socialism vs capitalism must be conducted with an eye to history, facts and real effects on systems.  NO SYSTEM SURVIVES FOREVER.  Please remember this salient point!Luckily for me, the WP wants to discuss this matter today, in its usual inept way.


E.J. Dionne Jr. – Neither Capitalist Nor Socialist –

Just a few weeks ago, the vogue was to declare that “we are all socialists now,” and to speak of how capitalist theory and practice were being toppled by an economic catastrophe that proved how profoundly flawed the old system was.  

I haven’t heard anyone say, ‘We are all socialists now,’ except in IRONY.  Dionne Jr. can’t see irony due to him being an employee of the warmongering WP.  There is now an economic catastrophe but it was not caused by ‘capitalism’ at all.  It was caused by ‘funny money’ creation using global central banks which handed out incredible amounts of easy credit.  In other words, we are in a CREDIT crisis, not a CAPITALIST crisis.

After all, what never existed, in the US, was true capital.  In this mess we see only a sea of red ink, nothing but wall to wall debts.   The biggest money gamesters were playing with IOUs, not capital. The entire US system ran on IOUs and far from fixing this, is doing this more and more.

Capital – Wikipedia, the free encyclopedia


  • Capital (economics), any form of wealth capable of being employed in the production of more wealth
  • Capital requirement or “bank capital”, the requirement that banks keep certain monetary reserves
  • Financial capital, money used by entrepreneurs and businesses to make products or provide services
  • Human capital, workers’ skills and abilities as regards their contribution to an economy
  • Natural capital, the resources of an ecosystem that yields a flow of goods and services into the future
  • Political capital, means by which a politician or political party may gain support or popularity
  • Working capital, short term capital needed by the company to finance its operations


Debt is not wealth.  I think that the book, ‘1984’, missed this thing!  He had ‘War is Peace’ and ‘Slavery is Freedom’ but left out ‘Debt is Wealth’.  The entire US psychological system is predicated on the belief that debt, not capital, is wealth. So, instead of employing capital to produce more wealth, we employed DEBT to produce the ILLUSION of more wealth.  

One of the most irritating things on earth is to hear people solemnly say, ‘The US is the wealthiest nation on earth,’ when the opposite is true.  We are one of the poorest nations on earth because we are very deep in debt, going deeper into debt…TO FOREIGN POWERS.  

There is something to this, especially if what is seen to be falling is not the market system itself but an approach to capitalism that saw government playing an ever-smaller role in economic and social life, and finance reigning over production and invention.

The government played a bigger and bigger role but NOT in regulation but rather, in churning out immense seas of red ink via running the government deeper and deeper in the red.  The government allowed a flood of foreign lending flow into the country via the Japanese carry trade.  And allowed a tsunami of value-added manufactured goods to also flow into the country so we ran all systems in the red.  No country is ‘rich’ if they are running in the red.  No bank is a bank if it is running in the red, too.  

The bywords now are stimulus (by government), re-regulation of finance (by government) and stronger safety nets (also provided by government). If there is one part of the system that is under sustained attack, it is the mechanisms of finance.

Finance is under attack because it is the hole in the bottom of our Titanic that is letting in all the red ink.  The US could easily sustain a sound social system for the working class if our jobs remained in America, not moved overseas, just for one immense example.  Social Security will collapse because wages are collapsing and jobs are leaving.

Still, that doesn’t make us socialist. There is, as yet, no broad demand for a government takeover of big companies or a widespread desire to replace capitalism with a cooperative system.


This moron obviously can’t read the news.  More about how wrong he is, in one minute.  First, let’s look at Obama: he works for the very rich who put him in the White House.  Of course, his opponents were much, much richer than he.  But not popular since the people were looking for ‘change.  So the financiers ended up backing Obama.  And he isn’t disappointing them at all.  He is in their back pocket.


Like Hillary Clinton…but not McCain.  McCain IS the pocket!  He is one of them, outright!   Obama has a total tin ear when it comes to things that matter to the working classes.


US doesn’t need outsourced jobs: Obama- Outsourcing-News-Indiatimes – Infotech

 In the midst of its worst recession in decades, President Barack Obama says it would be better to create new jobs that can’t be outsourced instead of bringing back such low paying jobs from other countries. 

This is in the India Times because they worry about us doing something to save ourselves.  Luckily for them, few of our leaders give two sticks about doing things for Americans.  Lucky for them and treason for us.  

At the same time US workers are seeing record unemployment, for the PRESIDENT to say, we don’t want the millions of jobs outsources and offshored this last 35 years, is treason.  The US is going down the economic tubes precisely because of these ‘low paying jobs’.

‘Not all of these jobs are going to come back,’ he told a questioner during an ‘Online Townhall’ from the White House who asked when would jobs outsourced to other countries come back and be made available to the unemployed workers in the US. 

NONE of these jobs are coming back, thanks to the US trade negotiators and leaders joining up with our dire trade rivals in Europe and Asia, saying, ‘We will not protect America.’  There are NO PLANS TO STOP THIS PROCESS.  Free trade continues ruthlessly onwards. To hell with the US system. 

As fewer and fewer Americans can find jobs, the less support the ruling elites have for social systems.  They are already trying, desperately, to convince us that our social services are evil and are destroying America and if we get rid of them, we will have low taxes and lots of jobs.  This hogwash is pure baloney.  NONE of our trade rivals subscribe to this.

‘And it probably wouldn’t be good for our economy for a bunch of these jobs to come back because, frankly, there’s no way that people could be getting paid a living wage on some of these jobs — HERE IS WHERE OBAMA BARES HIS FANGS AT THE US PUBLIC:  at least in order to be competitive in an international setting.’ 

Since when would it be bad for our economy for our jobs we lost, coming back home?  Many of these jobs are in the auto industry.  Not to mention, the entire electronics industries.  How about computer programing jobs?  These are all NOT ‘cheap labor’ jobs but quite the opposite.  To gain a ‘living wage’ usually means PROTECTIONISM.  This is why Japan is an economic fortress.  It has virtually no ‘free trade’ ideology at all.  But the Japanese encourage us to have ‘free trade’ because they overwhelmed us in this business of ‘free trade.’ 


So have the Chinese.  Who run a socialist/communist system that exploits the weaknesses of capitalist liberalism.  They are allowed to do this because they can.  We can also stop them from exploiting our weaknesses by imitating their strengths or putting up arbitrary barriers like the Japanese.  But we won’t do this because our international financial community wants the US to be exploited….to death!   This is NOT capitalism anymore than making us pay special taxes for social security, taxes that are NOT leveled against the wealthy, is true ‘socialism’.


Click here to see a typical example of people who want to see social services cut:  I.O.U.S.A. (IOUSA Full Movie)

The movie is right about many things, yet doesn’t go after our madcap military empire.  Nor does it mention ‘free trade’ even while noting we are running in the red when it comes to trade.  They don’t mention tariffs and barriers and how this protected the US during the Great Depression.  The Great Depression happened because the US lent money for WWI which was unpayable so long as Britain and France insisted on expanding their empires, while deep in debt.  Sound familiar?


When Germany ceased paying Britain and France reparations for WWI, the world’s entire banking system collapsed. Right when the US was undergoing a typical recession caused by too much lending.  This international banking collapse is nearly identical to the present collapse which is why we see some of the identical solutions popping up, much too late, of course.


The typical reaction of the ruling elites is to convince us, we do NOT need social services while jobs vanish and people are left bereft of work and health insurance.  This foolish game will eventually fail as desperate people see, it is life and death to seize control of our government and throw out all the politicians supporting foreign finance and business interests.  Let’s breeze through today’s news to see what this means:


Genpact eyeing 30 deals in India- Outsourcing-News-Indiatimes – Infotech

Genpact is eyeing around 30 outsourcing deals in India across sectors like manufacturing, telecom, utilities and financial services, according to the company’s president and CEO Pramod Bhasin. The country’s largest BPO firm by sales has also zeroed in on China, Japan and West Asia as growth markets. 

See what I mean?  The outsourcing process has BARELY BEGUN.  And all the gnomes who told us, great-paying banking and financial jobs would make up for the loss of manufacturing jobs?  Look at the list here!  Manufacturing AND financial services are being targeted!

The country’s BPO market, valued at $1.3 billion, is expected to grow by 40 per cent in 2009. “The domestic market is very receptive towards outsourcing. Deal sizes, however, remain small, ranging between $1 million and $5 million,” Bhasin said. 

It is going to double in what?  Two years?  

IT-BPO companies ignored the home turf in the past due to lower margins as there is no significant cost advantage in catering to a domestic firm. In contrast, cost differentials can go up to 50 per cent while servicing foreign firms. 

Cost differentials is what matters!  Helping foreign firms outsource to India and Asia has a 50% profit!  This is why it is an unstoppable force if we simply try to use financial inducements.


Goldman Sachs Makes 2 Buyouts –

Wall Street firm Goldman Sachs Group Inc., which recently accepted government funds to bolster its operations, spent $58 million to buy two top executives out of some of the firm’s in-house funds, a regulatory filing Friday showed.

$58 million of our bail out money that is charged against future taxes was used to hand over illicit profits to the top men in Goldman Sachs. Every penny of this should be returned to our Treasury, with interest. And the guys doing this should be jailed for fraud. Meanwhile, total compensation for the company’s chief executive, chief financial officer and two co-presidents fell 97% to $9.3 million in fiscal 2008 from $272.8 million a year earlier. The steep decline reflected that the executives got no bonus or stock options in the latest fiscal year.

There is no way this single guy should be able to reward himself to the tune of nearly $300 million a year!  This is why taxing him to pay for US social services is important!  He will twist the entire economic system so that all it does is pour money into his lap.  This is bad for the US, bad for society, and bad for the entire planet earth.


Anyone watching this melt down can clearly see, letting these creeps pour infinite wealth into their own pockets leads to a total collapse of all systems!  This is why we can’t allow this. One of many tools that prevents this are SOCIAL TAXES ON THE RICH.  They have little temptation to rot the system, trying to redirect all potential capital, into their own offshore pockets.


By the way, note how the bankers are getting away with not only having us bail them out, socialism for bankers, but also, get to continue giving themselves MULTI MILLION bonuses?  A mere $9 million bonus was, just 20 years ago, an immense bonus.  Back, when taxes on the rich were much higher!  Now, on to GM and how the government is going to force down worker’s wages to Asian levels:


GM Chief to Resign at White House’s Behest –

The Obama administration has forced the longtime head ofGeneral Motors to resign and said yesterday that it would withhold additional federal aid to the auto industry unless the ailing companies undertake changes they so far have been unwilling or unable to make.

And what are these changes?  Even as the bankers scream, we can’t renegotiate their own immense bonuses, the US government is basically putting a gun to the heads of workers.  GM and others were allowed to buy out old union members and thus, kill the union off.

Retirees are seeing all their benefits cut.  They fell into a trap of their own making.  They supported mostly right wing politicians who said, they could get union goodies for themselves while cutting social services to other workers.  So they formed an alliance that cut their own taxes while letting other workers slowly lose social services.

Now, they are being shoved out of their own little UAW boat and into the sinking US labor ship which is drowning as jobs are moved relentlessly overseas or the wages here are ruthlessly forced downwards, here at home.

The administration effectively rejected as untenable the business plans that GM and Chrysler had submitted to restructure their companies, saying that neither had fulfilled the terms of the federal loans the companies received in December.

The president is expected to announce today that both companies may still win additional federal aid but under stricter terms.

Chrysler, which the administration believes cannot survive as a stand-alone company, must reach an agreement to partner with the Italian automaker, Fiat, in the next 30 days to become eligible for as much as $6 billion in additional federal loans.


So, Chrysler will be forced to become an Italian corporation and only then, will get government loans?  HAHAHA.  Thus ends the greatest empire on earth!  And  notice how severe the government is with an organization that has a union compared to the banking sector, whose many bonuses for top bosses was ignored until immense popular rage slowed down the looting?


Geithner Says Some Banks to Need ‘Large Amounts’ of Assistance –

U.S. Treasury Secretary Timothy Geithner said some financial institutions will need substantial government aid, while warning against any attempt to tax investors who join a federal program to buy tainted assets from banks.

WHAT THE HELL????  Arrest Geithner and charge him with inciting a riot.  How dare he?  While Obama, his supposed boss, acts the sock puppet to the rich, Geither orders us to not tax these multi-millionaires?  Well!  There we have it: are we menaced by taxes and socialism or by a bunch of leeches driving us into deep debt so they can line their own pockets, tax free?

“Some banks are going to need some large amounts of assistance,” Geithner said today on the ABC News program “This Week.” The terms of a $500 billion public-private program to aid banks “cannot change” for investors or they’ll lose confidence in the plan, he said on NBC’s “Meet the Press.”

These damn welfare kings and queens can jolly well go off to China for large amounts of assistance.  And I hope the Chinese laugh before kicking these billionaire beggars to the curb!

The Obama administration is pursuing the most costly rescue of the U.S. financial system in history while facing taxpayer concerns the aid is bailing out Wall Street firms that took excessive risks. After allocating about 80 percent of $700 billion in aid approved by Congress, administration officials want to keep open the option of seeking more.

They are like zombies: they come back for more and more and more.  This is COSTLY and is costing whom?  The future taxes…. that Geithner doesn’t want the gnomes and zombies to pay!  We get to pay it, 100%.  Is this capitalism?  Or more obviously, pure piracy?


“The great risk is that we do too little rather than too much” to revive credit and stem what economists say may be the worst recession in seven decades, he said.

The damn government can lend directly to us, the taxpayers!  Why do we need leeches giving themselves billion dollar bonuses as intermediaries when the money these gnomes supposedly will lend us is actually OUR OWN MONEY IN THE FIRST PLACE????  

Banks need to show more willingness to take risks and restore lending to businesses in order for the U.S. economy to recover from the recession, Geithner said.

“To get out of this we need banks to take a chance on businesses, to take risks again,” he said.

Capital gains profit when exposed to business risks that work.  The other side of this coin is, they lose money if things don’t work.  This is the business of business: it MUST be ‘red in tooth and claw’ in order to operate.  When it is muffled by many counter-party derivatives swaps and AIG insurance games, it collapses.

Increases in housing purchases and small business lending indicate government aid is reviving markets, he said.

“Where we are acting, we are seeing progress and impact,” Geithner said on NBC today.

America is not rich.  We need more debt because we are not in a capitalist system nor are we in a socialist state: we are on a pirate ship run by a ruthless band of cruel gnomes who have only one interest: to have all the wealth and women for themselves.

Geithner defended the public-private partnership by saying it was better than the alternatives of requiring banks to weather the crisis with limited federal backing or having the government buy the financial institutions’ toxic assets….

“The investors are taking risk, their money is at risk and at stake,” he said. Allowing investors to leverage their money with government contributions and guarantees “is a relatively conservative structure,” similar to when an individual obtains a mortgage to buy a house, he said….

They are not risking ‘their money’ at any point in time.  They risked ‘leveraged’ money which came out of the Japanese carry trade.  Now that the US is ZIRP like Japan, they want the US to be the Japanese carry trade and give them free loans so they can play capitalist games using taxpayer IOUs.  


As for his example here, this particularly enrages me:  This IOU leverage is NOT ‘exactly like an individual obtaining a mortgage to buy a house…’ for we buy houses to LIVE in.  Banks used to be very uptight about this provision about living in something.  Second houses required higher interest costs due to uncertainty since the owner wasn’t living there full time!


Throughout the last decade, I have argued hugely that the main thing we must do is pay down our mortgages so we can live ‘rent free’ and NOT use house debts to play stock markets!  Or any markets at all!  Only if you sell a house and BUY A CHEAPER PLACE, can you take the CAPITAL from this sale, and INVEST IT.


A lot of our gaming this last few decades were people going deeper and deeper into debt in order to play the markets that paid more than the debt costs.

“We still don’t have the transparency and oversight,” McCain said on “Meet the Press.” He said his biggest concern is that the cost of stemming the financial crisis will worsen annual deficits projected to exceed $1 trillion for many years.

YIKES!!!!  Many years of trillion dollar deficits is BANKRUPTCY.  And not due to social security systems that are being relentlessly undermined by transferring US jobs to India and Asia, either.

“What I am most worried about is laying the debt on future generations of Americans,” he said.

The lying bastard.

When asked on “This Week” whether Treasury had enough resources to provide a similar level of aid to struggling U.S. automakers, Geithner said the administration was “prepared as a government to help that process.”

Which was to seize draconian control of the auto industry so it can be de-unionized more ruthlessly.  

“We want to have a strong automobile industry,” he said. “We want it to emerge from this period of challenge stronger.”

US jobs are of primary importance if one is a leader of a nation.  If one is working for foreign gnomes or domestic pirates who don’t pay taxes, then, giving US taxpayer loans so they can EXPAND FOREIGN HOLDINGS and export even more jobs, is what makes the ‘industry’ stronger.  But not the US workers.  We are being ruthlessly weakened, step by step.


Beijing’s Jan-Feb exports down 37%

Foreign trade of China’s capital shrank 37.2 percent year-on-year in the first two months of 2009 to $24.85 billion as the world economy slowed, the local customs house said Saturday.

Exports were $7.28 billion, down 6.9 percent, In other words, exports fell only a small amount  and imports were $17.57 billion, down 44.6 percent.  In other words, IMPORTS fell a lot more than exports…which means China is weaker but not collapsing at all, quite the contrary…But exports of rolled steel rose 31.6 percent to 500,000 tons and those of oil products increased 33.3 percent to 622,000 tons.

All world trade contracts when the US can’t buy all the time.  We run less red in [we still are very much in the red with trade!] but the Chinese cut down their own imports much, much more than exports so they are still in the green.  We are very much, still in the red, despite cutting imports down a great deal.


Two thirds of Chinese companies looking to snap up British businesses – Telegraph

One third of Chinese executives surveyed by Deloitte last week said they are planning to make large strategic acquisitions, with a further 29pc in the market for “bolt-ons”. Nearly all the 23 top-level Chinese executives questioned said technology companies are a key area of interest….”Whilst many other buyers have lost their taste for deal making, the Chinese remain hungry.”

The Chinese can make deals because they have CAPITAL. Think about this: the COMMUNIST CHINESE have CAPITAL. The US has DEBTS. And we owe the most to the Communist Chinese! And people tell me that socialism is a failure? The Chinese communists are NOT the Western bankers! Not even slightly, at all. No, the Chinese are Chinese! The US bankers don’t want ‘communism’ to triumph because they are not communists, nor are they happy that the Chinese are triumphing.

They thought, when Nixon went in, we could pour into China and EXPLOIT the communist Chinese.  After I spent several years, working with the Chinese, explaining capitalism to them, they figured it out.  And took it on and exploited it to the hilt.  And are winning, of course.  The US bankers hope to CHEAT the Chinese which is why they lie about gold, just for one glaring example.

I showed in previous articles, how the Western bankers in the IMF, for example, were outraged their program of convincing the Chinese that FOREX holdings and sovereign funds were worthless.  Now, the Chinese are using both, IN A DOWN MARKET, to buy up things, CHEAP!  They have ‘capital’ and know what ‘capital’ is.  Unlike the western bankers who refuse to read Karl Marx, ‘Das Kapital’.

Lawrence Jin, Chinese services group partner at Deloitte, said: “Given the depreciation of sterling and low equity values, we expect a significant increase in Chinese backed deals in the coming months.”

The US and UK hoped, lowering the value of our currencies would mean, we could sell manufactured goods to China.  China isn’t stupid. They want the jobs.  They do exploit these periods of monetary weakness to buy up our factories and systems!  Another thing I want to say to that fool, Obama: it isn’t just ‘jobs’ that are moving out, it is ‘factory systems’ and once out, hard to get them to return.  


I will also inform Obama that one aspect of the Chinese 50 Year Plan hatched in the early 1980’s is, they entice, with cheap wages, our corporations to transfer our factories to China and then the trap will snap shut: even with low wages here, these factories are NOT coming back.  Trust me on this.


Singapore May Devalue Currency in April, Survey Shows (Update1) –

The Monetary Authority of Singapore may devalue the city’s currency and allow it to drop 4 percent against the U.S. dollar by June 30 to aid exporters and lift the economy out of the worst recession since independence in 1965.

ZIRP continues its destructive passage.  All things are going towards zero!  Everyone is devaluing like crazy.  The ones who will win this game are those with big FOREX holdings PLUS sovereign wealth funds.  Singapore has this but is also a tempting target for Chinese take-over since they are very small.   

The central bank will shift the mid-point of the Singapore dollar trading band at a twice-yearly review in April, according to 15 of 17 economists surveyed by Bloomberg News. The currency is “extremely and ridiculously overvalued,” Patrick Bennett, Asia foreign-exchange strategist at Societe Generale SA in Hong Kong, said last week.

The floating currency system is imposssible.  It makes trade very difficult. Since everyone is shifting things about all the time, it is very hard to track and control.  Except when someone is very, very big like China, just for one glaring example.  

This was all launched by the US for spurious reasons.  We didn’t want to pay taxes for the Vietnam War.

Singapore’s exports fell for a 10th month in February as global demand for electronics and drugs tumbled and the government forecasts gross domestic product will shrink as much as 5 percent this year. Exporters are losing out to regional rivals after the currency weakened 6 percent in the past six months, compared with losses of 17 percent in the Indonesian rupiah and 12 percent in South Korea’s won.

Japan began this process and is sucking in all of Asia.  

“The central bank’s objective is to restore a measure of competitiveness,” said Wei Zheng Kit, a Singapore-based economist at Citigroup Inc., the world’s fourth-biggest currency trader. “A one-off depreciation will achieve this objective.”


As the entire planet rushes to zero, the US will try to recapitalize this system by printing funny money.  If we want to see money go to zero value, fast, this is the direct route!  and we hope to palm all of this off to Asia in return for them producing our manufactured goods we used to make here, at home, once upon a time, before ‘free trade’.


Crushing the American people, killing off our social systems, killing the elderly, won’t make us rich nor give us more capital.  Remember: HUMAN LABOR IS CAPITAL.  Thank you.





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Filed under .money matters, Free Trade, gold


  1. ralph

    The plan is for the bankrupt American people to LEND their future tax money to the banks now. In return for the privelage of borrowing their own money back at INTEREST from the banks to “get the economy moving”? This plan is a fucking scam. Fuck banks. Everyone pull 90% of their $ out and keep it in $100 bills in your house and buy some gold coins too. Really piss em off. This system is FAKE and should be repudiated by the American people.

  2. CK

    I saw an interesting thing on Calculated Risk this morning. Basicly, the thought was that the US did not have a 0 % savings rate when the numbers said that we did because the numbers did not take into account that folks were withdrawing the paper equity in their homes through refinancing. The author then went on to use the assumption that half of the withdrawn paper equity was saved. Using this model the US savings rate was supposedly above 0%. I think the author was simplistically wrong for two reasons. One, to assume half the borrowed paper equity was saved would mean that the withdrawer could get a higher rate on his savings than he was paying on the refi. I never experienced that situation in the many years I have had a mortgage and I have looked. The second error I think he is making is to equate paying off old debt as the same as savings. I know folks who refied at 7% and took equity out and used that withdrawn equity to pay off credit cards or other debt that was at more than 7%, I know about the same number of folks who refied and merely rolled their credit card debt into the refi. In other words they substituted 9+% debt for 30 years of 7%. Either way both groups had more disposable money at the end of each month. Whether they saved it or lived larger than before is open to investigation. But you could usually tell who had done a refi the previous week by the increased number of large cardboard cartons in the trash suddenly this week. New fridge, new flat panel. One saw the cartons, one infered the refi.

  3. Paul S

    Elaine: you brought up the point during the last Presidential campaign that bears repeating. Look at who the voters had to choose from for President. All four candidates were Senators but one: Palin. Biden, McCain Obama, Hillary Clinton–but she wasn’t on the final ticket (she decided to “settle” for Secretary of State). ALL from the millionares club. Some kind of choice, eh? I’m as confused as the next person here as to WHY the voting public does NOT DEMAND change. Our ruling class quite obviuosly will not change on their own. RE Palin. My educated guess is that McCain couldn’t find a Senator to takte the job; too much money to be made in the Senate, I guess.

  4. Zak

    Max Keiser

    Off with their Heads!

  5. Bear of Little Brain

    “And people tell me that socialism is a failure? ”
    Maybe I’m misinformed, but I am under the impression that the Chinese peasantry have no access to free education or free health care, nor do they have any state-provided pensions. That’s why they have to save so much. That’s an unusual form of socialism, but fairly normal for a feudal tyranny.
    Please enlighten me, if I’m wrong.
    ELAINE; You are right, of course. But I keep pointing out that GERMANY beats us regularly in international profits markets and it is very much a socialist state.

  6. Bear of Little Brain

    Oz bites back:
    “March 30 (Bloomberg) — China Minmetals Group remains in talks with OZ Minerals Ltd. to revise its A$2.6 billion ($1.8 billion) takeover after Australia blocked the proposal last week on national security concern.”
    even though:
    “We would be surprised if Minmetals are still interested in doing business with OZ Minerals as a result of this decision although OZ and Minmetals will be spending the weekend trying to structure an alternative agreement,” Credit Suisse Group AG analysts led by Michael Slifirski said today in a report. “The risks of OZ Minerals falling into receivership have materially increased.”
    “Australia is studying investment proposals from China, including a $19.5 billion investment in Rio Tinto Group, amid a backlash from politicians and shareholders.”
    Both from:
    Oz has long feared the “Yellow Peril”.

  7. Bear of Little Brain

    While I’m at it:
    “March 30 (Bloomberg) — Aluminum Corp. of China Ltd., the nation’s biggest maker of the metal, will cut capital spending by at least 34 percent this year to 13 billion yuan ($1.9 billion) after forecasting a first-quarter loss as demand slides.
    The Beijing-based company will also tighten mergers and acquisitions in domestic and overseas markets, as well as suspend planned projects to “cope with current difficulties,” President Luo Jianchuan told reporters today in Shanghai…
    It’s too early to say aluminum prices have bottomed,” said Sabrina Xie, a Shenzhen-based analyst at Guotai Junan Securities Co. …
    China’s State Reserve Bureau has bought 580,000 tons of aluminum in January and February to help reduce smelters’ inventories and boost prices. That’s equal to half of China’s monthly output. The purchase may reach a total 1 million tons this year, Macquarie Group said.”
    More at:
    All looks a bit wobbly, just now.

  8. Simon

    You are misinformed
    Most countries in the world have some form of free education, just variation of the word “free”
    We have student loans and voluntary compulsory union fees or activity fees, while East Asia have tuition fees and stationery fees
    ELAINE: in the US, the ‘free’ schools [via property taxes!] give the graduate NOTHING. If we wish for even slightly better jobs, we have to pay, in total, whatever schools we can afford. To get a higher degree costs tens of thousands of dollars if not hundreds of thousands of dollars.

  9. Pingback: Topics about Culture » SOCIALISM AND CAPITALISM: BOTH ARE IMPORTANT

  10. Zak

    Fights in Mich over lost jobs.
    Very sad.

  11. Zak

    China throws the Cat amongst the Pigeons

  12. Bear of Little Brain

    I wasn’t referring to “most countries”. Just China. All I’m saying is that China is not socialist, until I’m proven wrong.
    And I’m not aware of an unemployment benefit scheme there, either, BTW.
    And I’m referring to basic elementary and secondary education, not tertiary.

  13. Simon

    OZ would not have this problem if some of its people were not retarded to buy on top of the mining boom and actually thinking it will last.
    The current Rio Tinto mob made the gamble of paying too much for Alcan and now are more than 30 billion in the red.
    If the UK or Australian government is willing to cough this dough up they can tell Chinalco to piss off
    But all I see is the newspapers here howl about it with all style and no substance

  14. Simon

    Again it depends on what you mean by socialist
    If you mean a UK/Can/Aus/Norway/Sweden Universal Medicare type of socialist, No.
    If you mean a government hand in everything, pressuring companies, banks and individuals alike, then yes.

  15. hardrock

    Ralph, Amen bro! The system is a scam. A fraud perpetrated on gullible gentiles who, like the ancient Hebrews and the worshiping of the ‘golden calf’….until someone came along and rang their bell. The ‘bell ringing’ only put them into another form of bondage however…one we live with till this day! Funny how history repeats itself….we will have the same thing happen to the world in the next few years….a ‘one world’ bank….leading to a ‘One World’ government. Create a crisis and then bring the solution. By ‘deception’ we shall conquer…the mantra of more than just the Mossad.

  16. Simon

    Just China has more government educated primary and secondary population than the entire West world combined
    I am using their urban population data

  17. Bear of Little Brain

    “If you mean a government hand in everything, pressuring companies, banks and individuals alike, then yes.”
    That’s what I’d call tyranny at the extreme, fascism/corporatism in a milder form.
    I would have thought that the basis of any “socialist” state would be the provision of at least the basic requirements to enable anyone to exist in that society (e.g., shelter, adequate sustenance and clothing, basic education, health care and support in old age, then, burial). I’m tempted to include notions of fundamental equality and dignity, but I’ll leave it at that. I see none of this in China, but hope to be proven wrong. Scandinavia has had a good shot at it, but their well-meaning attitude to immigration may have set off long term rot there.

  18. Simon

    If none of this is in place in China how do you think they advanced this far? Sometimes you need to see the output of the black box before you guess what’s inside

    All of the above countries I listed, apart from UK, are mineral/energy rich, or both. Barring disasters like meteorites or foreign invasion, they have benefits few other countries in the world possess.
    Yet look at Iceland, financial mismanagement destroyed everything.
    It would take something drastic for today’s countries to NOT be able to support basic living conditions. This is setting the bar quite low.

  19. Bear of Little Brain

    Chinese illiteracy:
    “Illiteracy Jumps in China, Despite 50-Year Campaign to Eradicate It”
    “This country is proud of its traditional focus on education, as well as more recent efforts to raise standards, such as passage of a law that says every child has the right to nine years of schooling. Yet in many rural areas, such schooling remains unavailable or prohibitively expensive.”
    “Zhao Xianghua, 15, said half of her friends can’t read. She boards during the week at a county school that charges $50 a year in tuition, but she has friends who don’t have the same luxury.”
    More here:
    [Washington Post, April 2007]
    Note the “right to nine years of schooling” and “prohibitively expensive”.
    Long live the People’s Party (Love Big Brother).

  20. hardrock

    This little quote from William Engdahl writing on 321gold today:

    “In 2000 the Clinton Administration then-Treasury Secretary was a man named Larry Summers. Summers had just been promoted from No. 2 under Wall Street Goldman Sachs banker Robert Rubin to be No. 1 when Rubin left Washington to take up the post of Vice Chairman of Citigroup. Summers convinced President Bill Clinton to sign several Republican bills into law which opened the floodgates for banks to abuse their powers. The fact that the Wall Street big banks spent some $5 billion in lobbying for these changes after 1998 was likely not lost on Clinton.”

    Yes, Elaine, there is no perfect system. Everything is always in a state of ‘tension’. Tension, this is where life is lived and the forces of truth and falsehood do battle…within and without. The imperfection of man is the issue. Liberalism has embraced the notion that man is perfectible and with that in mind has attempted to regulate this to the Utopian end.

    On the other hand, true conservatism has as its bedrock position the notion that man is a ‘flawed’ creature who needs constant inspiration, guidance and regulation based on ‘norms’ that have slowly evolved through culture and religious beliefs. Here again is where things go of the track….because of man’s imperfections, he immediately attempts to impose his ‘norms’ on others….no different than the socialist/communist attempts to do so by different named methodologies [on steroids]but with similar results….the stifling of freedom in the name of ‘good intentions’. Billions of pages have been written on this subject over the years…with damn near as many opinions. Keep writing Elaine, fresh ideas may get us closer to solutions.

  21. Bear of Little Brain

    “If none of this is in place in China how do you think they advanced this far?”
    I didn’t say it doesn’t exist. Obviously, it does. I’m simply saying that China is not a socialist state. Perhaps they’re working on it, but I suspect the revolutionary zeal is long gone.

  22. emsnews

    I am glad people are arguing about this. Is there a paradise somewhere where people are happy? NO! Obviously, not. But in the struggle to dominate and to live, who does best? Countries that have little controls or countries with a lot of controls?
    Guess what the answer is! Simple: countries that do nothing to stop bubbles, countries that allow trade rivals to devastate native industries, countries that sell off all the infrastructure to aliens, countries that spend more money protecting dire trade rivals living thousands of miles away while neglecting their own people at home….are a DISASTER.
    China defends its own borders. It has improved the lives of literally many millions, 4x more millions than the US. It has a long ways to go but it is GOING UP. The US is going DOWN. China is in the green, the US is in the RED. So is the UK. Both are going towards bankruptcy and China is moving away from bankruptcy.
    How simple is this, anyway?

  23. emsnews

    And China’s IDEAL is a socialist state in the long run, this is what they want, no doubts about that. They are not touting the free run libertarian philosophy of no controls, no social help, nothing civilized but rather the dog-eat-dog world of imaginary capitalism. We need a civilization and this is very hard for people to understand. Not just a culture but a civilization which means, cities that have all sorts of amazing PUBLIC features that aren’t cheap. Suburbs are cheap. They have big boxes for selling stuff and pretty much not all that much else.

  24. Matheus

    They say that G20 it is the last standing before chaos, with the status quo (that we here expect) kept unchanged, Elaine, will china dump the dollar ? Or would china and russia set its currencies backed by gold ?

  25. emsnews

    The G20 want to keep the status quo of the US buying everything and going into an infernal debt hole. We should fight this tooth and nail but are not so eventually the Chinese 50 Year Plan will succeed and they will be our bankers and they will control our access to all commodities, INTERNAL as well as EXTERNAL. And that will be the end of our empire. And our sovereignty as a nation.

  26. emsnews

    And the New World Order individuals will try to slither off to China for political support. The Chinese will set them up as our rulers and then let us attack them. Thus, not fighting off the real controllers. This is all so stupid since it is so easy to figure out. We can limp along for another 20 years but that’s it! What else are we going to do?
    This is why revolutions occur. They come like clockwork in history. We are kind of overdue, actually.

  27. Angela

    >>>Yes, Elaine, there is no perfect system. Everything is always in a state of ‘tension’. Tension, this is where life is lived and the forces of truth and falsehood do battle…within and without. The imperfection of man is the issue. Liberalism has embraced the notion that man is perfectible and with that in mind has attempted to regulate this to the Utopian end.<<<

    No offense hardrock, but your last two sentences as the logical conclusion to the first four statements amount to nothing more than sanctimonious horseshit.
    I have been hearing this exact chorus all week from a multitude of good Christians who are “saved” from their imperfections and show no mercy nor feel anything but permission to “sin” over and over against their fellows and then expect be be forgiven- why bother changing whatsoever?? Yes we are ALL imperfect, but to serious conservatives (the morally favored amond the Hegalian dialecticians), it is those gid-awful liberals who are vastly more imperfect and who would let us know if not our morally superior betters.

    I am so sick of this, I could scream. The list is VERY long of the hypocrites preaching conservative values and living VERY antinomian OR very decadent lifestyles, selfishly abusing their fellowmen all the while.
    Many very conservative “good” Christians are the most intolerant, unforgiving, rigid human beings who would NEVER admit to personal imperfections to anyone other than a priest, including to their own family members who they can abuse and then be forgiven on a daily basis via the priest.
    A recent email from one such good Christian was a forwarded link to a gleeful article about a plane crash in a Catholic cemetary of a family involved in abortion clinics. Imperfect humans, indeed.

    No small wonder there are Utopians. If Heaven above is inhabited by these type of conservatives who get to determine what is all truth AND then get to locate falsehood in everyone but themselves, then send me straight to Hell, do not pass go.

  28. Bear of Little Brain

    Market leader in China? How weird is that?
    “In China, where General Motors has become one of the market leaders, GM officials said that for now it was business as usual.”
    [Canadian Press, today]
    Started digging after Bloomberg said that black Buicks were a very (most?) popular model.
    “GM has eight joint ventures and two wholly owned foreign enterprises as well as more than 21,000 employees in China. GM, along with its joint ventures, offers the broadest lineup of vehicles and brands among automakers in China. Products are sold under the Buick, Cadillac, Chevrolet, Opel, Saab and Wuling nameplates. In 2008, domestic sales of vehicles by GM and its joint ventures rose 6.1 percent on an annual basis to a record 1,094,561 units. GM ended 2008 with an estimated market share in China of 12.0 percent. It has been the sales leader among global automakers in China for four consecutive years.”
    This link lists all GM joint ventures in China. Who’d have thought…
    Let’s hope the dual citizens guarding Obama’s doors don’t have anything nefarious in mind. Bankruptcy for GM, then break it up and sell it off to various foreign interests? Hey, something similar and simpler: close down US plants, move HQ to Israel and carry on… (Well, Halliburton has gone to Dubai, so why not?)
    Just my overactive imagination, no doubt.

  29. PLovering

    This coming Revolution is no accident.
    The Lizard Financial Terrorists have been planning this Revolution for ages.
    Lizard central computers at CFR stress test our economy every day, and the global economy too, so they know the situation, exactly.
    To survive this Revolution as a Republic we must first deal with domestic traitors and terrorists, as they would do unto us.

  30. emsnews

    Bear of Little Brain, yes, GM makes lots of cars inside China. And China would buy this sector of GM if it went bankrupt. This is one of several reasons why it won’t go bankrupt but the attempt to keep the Chinese from finally taking over will fail since we are deep in debt to them.
    Angela, I think you are misinterpreting what Hardrock was trying to say. I believe, he was agreeing with me that we need a balance between socialism and capitalism, just for example.

  31. Bear of Little Brain

    Back to the Slimeball’s Bank Bailout plan:
    One scenario for the Goldman Sachs Mafia hit is here (banks buy their own waste, taxpayer takes the hit). Even I understood it:

    This is part of Mish’s latest take on the scam, but Mish has extended it into the realm’s of bonds here (bit beyond me, but I get the picture).
    (“Geithner’s Plan Can Succeed”)
    How much are you guys going to stand for?

  32. Bear of Little Brain

    “realm’s”?? 😳

  33. Angela

    Perhaps, Elaine, and Hardrock, too, that I misunderstood, but this tone regarding conservatives vs. liberals is dismally familiar.
    I am conservative about the Constitution, yet liberal about benefits for people in need. This week I have been hearing on so many fronts how aghast the conservatives are at the prospects of socialism, when in fact they are so very invested in preserving a moral and social order where they exclusively get to make and break the rules as God’s very elect. It is making me crazy, sorry.

  34. emsnews

    You are right, Angela! Yes, the conservatives tend to think, they got it made so to hell with everyone else. I keep reminding people, you NEVER KNOW when you are suddenly a victim of a Madoff, just for an obvious example, and all your fine money is gone…poof. I just got a call from an accountant who said, she just finished unravelling the accounts of a group of doctors who just got embezzled by a member of their group and their previous accountant to the tune of hundreds of thousands of dollars!
    We have socials systems so if you are hit by a car and the driver runs off and isn’t caught and you can’t work anymore, you are not thrown into the ditch to die, just for one big glaring example.

  35. Gary

    Hardrock…..Two quotes of yours below:
    “The imperfection of man is the issue. Liberalism has embraced the notion that man is perfectible and with that in mind has attempted to regulate this to the Utopian end.
    On the other hand, true conservatism has as its bedrock position the notion that man is a ‘flawed’ creature who needs constant inspiration, guidance and regulation based on ‘norms’ that have slowly evolved through culture and religious beliefs. Here again is where things go of the track….because of man’s imperfections, he immediately attempts to impose his ‘norms’ on others”
    I am a little bit Calvinist without the religion. I do believe in some sort of “original sin”. I dont think many of us lefties here think mankind (laughtrack) is “perfectable”. And this is why we feel the need for some serious regulation of the financial/business system. With out some regulations, sinful business people
    will beggar their workers, crap in somebody else’s water and air, and take their
    huge winnings and piss it all away in some Wall St Reservation Casino. When they
    beggar their workers, they ultimately begger themselves and their country by
    killing the demand for their own products, and killing the tax AND savings base
    of the country that let them get wealthy in the first place !
    Because the middle class and lowers also have plenty of original sin to go around,
    we have living wage laws and NOT welfare— except for disabled people. And in an organization like a manufacturing concern, none of us want the same payscales for everybody. Most people want to improve themselves and do a little
    better as a result. And for those that dont, they should still get a living wage if
    they work and contribute something. BUT COME ON, is a 500 X difference a 1,000 fold difference capitalism? That is thuggery,thievery and buggery.
    Also hardcore “capitalists” do plenty of “Imposing” on their workers. Some of them think their workers are nothing but on and off efficiency units they can dispose of like Bic Lighters, AND hardcore capitalists think little of morality and ethics. Look at Donald Trump. They only wrap themselves in religion to sell you a candidate they support.
    While human nature is not perfectable, good behaviour can be encouraged by
    the leadership at the top. If the people at or near the top dont take more than
    they give, and live somewhat modest lives, the lower orders will take the
    social cues. We are heirachial animals. Leadership comes from the top. When
    Wall St goons act like gangbangers and swinders, how can we expect Friday
    night at the trailer park be any different, eh? The fish’s head is the first to rot.
    Peace (sorta)

  36. PLovering

    James Galbraith: “The Treasury Plan Is Just A ‘New Derivative'”
    Geithner’s Plan is a scam.

  37. David

    Good Article Elaine.
    Considering all you’ve just explained, I cannot see how the nation can keep operating at any kind of acceptable level very far into the future. I just don’t see how these gnomes can believe that they can continue deceiving and oppressing 300,000,000 people very much longer….as it all crumbles.
    E J Dionne Jr, said:

    Still, that doesn’t make us socialist. There is, as yet, no broad demand for a government takeover of big companies or a widespread desire to replace capitalism with a cooperative system.
    This Washington Post dude doesn’t appear to even know what socialism is….He thinks it is Communism, or maybe it’s just his misinformation of the public.
    According to Ebernstein’s “Today’s Isms”, socialism is where the population is taxed and the money is spend on public works projects such as roads, schools, ports, public health care, old age pensions…all things for the public good.
    Communism is where the state owns the means of production and all public wealth and allows the citizens the privilage of using public wealth. Communism is where people are put into collectives or cooperatives under state control to work for be good of the collective and the state…doesn’t work too well…is why the Chinese are moving to Socialism and Capitalism which works well when combined.
    US is moving away from socialism, but the nation is failing because of this so we are now moving toward fascism to keep the people oppressed and under control….and interestingly, as our economic systems fail, we are moving slightly toward communism…government ownership of the means of production and finance…GM..and AIG.
    US system really is screwed up. Can’t last…as Elaine said…it will change….sooner more likely than later.

  38. jeremy/Nashville

    It seems like America is becoming more like China, while China is becoming more like what America is supposed to be.

  39. seraphim

    Certainly debt is not wealth. Not even money are wealth. The Greek philosophers knew that. Aristotle differentiate oeconomia from chrematistic. Oeconomia deals with what is necessary in a houshold (oikia),chrematistic is the art of accumulation of riches. Whereas he admitted the use of money in exchanges, he condemned the accumulation of money as an activity which dehumanizes those who are devoted to it. He saw that chrematistic was a lot of tricks and strategies to accumulate riches and to prop political power. It was the traditional view of the Antiquity and Middle Ages up to the Rennaissance and Reformation which fell head on for the (not so) “new” religion of money making and profit. It was the new profiteers that initiated the vicious attacks against the Church, looting its wealth with which it was sustaining charities, unraveling its social progammes. The new pirates who made fortune from the confiscated lands and tresuries of the Church became the “new” English, German “nobility”.

  40. Matheus

    Mark feber expects war with Russia and China:

    And you guys ?

  41. Simon

    Did you notice the ‘rural village’ part?
    Without literacy, none of the big cities will function
    Nor the factories turning out stuff, where I guess you would need at least Middle School to function

  42. Simon

    Noticed the type I and II errors in politics
    We tend to focus on one while ignoring the other
    Socialists are mainly concerned with Distribution, while capitalists are mainly concerned with Acquiring

  43. emsnews

    Read my latest posting. It is a long speech by the Chinese communists, explaining how to reform our own banking and financial systems. Hilarious and UTTERLY CORRECT!

  44. PLovering

    ` Whether you agree with this article or not, you have to agree that it is very cleverly written. –
    The Daily Mail ( UK ) wrote this editorial about Obama on 1/6/2009..
    Obama’s Victory–A British view
    A victory for the hysterical Oprah Winfrey, the mad racist preacher Jeremiah Wright, the US mainstream media who abandoned any sense of objectivity long ago, Europeans who despise America largely because they depend on her, comics who claim to be dangerous and fearless but would not dare attack genuinely powerful special interest groups. A victory for Obama-worshipers everywhere. A victory for the cult of the cult. A man who has done little with his life but has written about his achievements as if he had found the cure for cancer in between winning a marathon and building a nuclear reactor with his teeth. Victory for style over substance, hyperbole over history, rabble-raising over reality.
    A victory for Hollywood, the most dysfunctional community in the world. Victory for Streisand, Spielberg, Soros, Moore, and Sarandon. Victory for those who prefer welfare to will and interference to independence. For those who settle for group think and herd mentality rather than those who fight for individual initiative and the right to be out of step with meager political fashion.
    Victory for a man who is no friend of freedom. He and his people have already stated that media has to be controlled so as to be balanced, without realizing the extraordinary irony within that statement. Like most liberal zealots, the Obama worshippers constantly speak of the Fox News Network and Rush Limbaugh, when the vast bulk of television stations and newspapers are drastically liberal and anti-conservative. Senior Democrat Chuck Schumer said that just as pornography should be censored, so should talk radio. In other words, one of the few free and open means of popular expression may well be cornered and beaten by bullies who even in triumph cannot tolerate any criticism and opposition.
    A victory for those who believe the state is better qualified to raise children than the family, for those who prefer teachers’ unions to teaching and for those who are naively convinced that if the West is sufficiently weak towards its enemies, war and terror will dissolve as quickly as the tears on the face of a leftist celebrity.
    A victory for social democracy even after most of Europe has come to the painful conclusion that social democracy leads to mediocrity, failure, unemployment, inflation, higher taxes and economic stagnation. A victory for intrusive lawyers, banal sentimentalists, social extremists and urban snobs.
    Congratulations America! Your funeral will be sooner than you think!
    ELAINE: That guy is totally unhinged. Did this idiot notice that the party of the lock-step zombies who don’t question right wing authority are the born again Christians in America? And it is, in my experience, the right wingers who fear confrontation, criticism and opposition! Social Democracy is always better than the alternative: Victorian-style exploitation of slave labor. The UK/US right wing wants to do little work while reaping the riches of cheaper labor, elsewhere.

  45. nah

    yea i dont mind social programs as long as thair paid for… the 3% adjusted deficit per GDP figures long used to pare a fraudulent system into some perfect dynamic are out the mother fuking window
    with a patriot act on top

  46. Simon

    Having the worse possible president has nothing to do with race, an employee of the bankers by any race is still mainly characterized by his job, not his being

  47. Angela

    More scary semantics in the forging of capitalism and socialism…

  48. JSmith

    “The tensions between socialism and capitalism never, ever go away. The ideal system is one that is balances the two.”
    Presumably so that capitalists can create wealth while socialists ensure that wealth is properly allocated?
    “And China would buy this sector of GM if it went bankrupt. This is one of several reasons why it won’t go bankrupt…”
    Don’t look now… but GM may be heading for a short sharp bankruptcy.
    ELAINE: Smith, you might enjoy living in social disorder. I have so I know what it is like. It isn’t nice. And note that one can suddenly move from ’employed’ to death very rapidly if one is hurt at work or one’s jobs are suddenly yanked out of the country.

  49. Gary

    So, you want the demise of the Amerikan Weimar Republic ?
    Better get a spitshine on those boots of yours. Marching days for you
    are coming.
    You should take credit for your success. You HAD (almost) totally
    unregulated “free” market “capitalism”. Look where it got you. Ha ha.
    You should take credit for your success. You and your corporate “talk”
    radio have destroyed any real liberalism left in this country. Face
    up to YOUR mess.
    And shine those boots. I want them looking like mirrors

  50. emsnews

    Alas, a lot of people think socialism killed the Golden Goose. It didn’t. The 20th century was all about the collapse of the European global empires that ruled and TERRORIZED the entire planet from 1450-1945. Now, we are witnessing the unwinding of the US empire that flourished from 1860-2000.
    ALL empires eventually rot. They rot for several reasons. One symptom is to have severe financial troubles in the Imperial center while bribing wild barbarian tribes to be quiet on the frontiers [Afghanistan for the US]. Another symptom is, as the finances deteriorate, the Throne always decides to fix this by going very deep into debt to rivals and enemies.
    Next is the sad business of choosing imperial leaders: they always are STUPID or even if smart, act stupid. They can’t disengage enough to get a good look at thing. Often, like Bush, they are drunken fools that do embarrassing things as they globe-trot. The ability to eat properly with fork and spoon collapses. The ability to form sentences spontaneously, falls.
    Then there is the mental rot that afflicts dying empires: reading and writing begins to collapse. People fall for crazy religious beliefs that cut them off from science and reality. Simple solutions that require no thinking, not effort and no sanity, are proposed. For example, many people are openly talking about having our dying imperial government give us a million dollars each so we can all pay down our debts, simultaneously.
    Such pure fantasy, insane solutions are echoed by the elites who think, if they just give themselves a few trillion dollars, the old system will restart.

  51. Gary

    The real reason why the Weimar Republic failed was that the German
    Liberals at that time were, much like ours, afraid of being painted
    with the “commie” brush. So, they were lukewarm wishy washy “liberals”
    and did not appear to be authentic. The German right wing, with a lot
    of help from the Nazis, with whom they had an uneasy alliance, appeared
    more authentic to the Germans, thereby throwing the country back into
    the arms of the thugs that got the nation into the problem in the
    first place–the idiots that buggered the currency by starting WW1

  52. April 13, 2009
    “The Path to Human Development: Capitalism or Socialism?”…
    Socialism or Barbarism.

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