Capitalism is NOT Democratic: Democracy is NOT Capitalist

[georgephillip]

Leftwing propaganda. The government caused it by forcing lenders to give mortgages to people who couldn't pay them.

Cite the law requiring liars' loans.
Cite the government regulations requiring ratings agencies to give liars' loans triple-A ratings.

William K. Black - Wikipedia

"On April 3, 2009 Black appeared on Bill Moyers Journal on PBS and provided critical commentary on the U.S. banking crisis.

"Black asserted that the banking crisis in the US that started in late 2008 is essentially a big Ponzi scheme; that the 'liar loans' and other financial tricks were essentially illegal frauds; and that the triple-A ratings given to these loans was part of a criminal cover-up.

"He said that the 'Prompt Corrective Action Law' passed after the Savings and loan crisis mandated that ailing banks should be put into receivership.

"Black also stated that trying to hide how bad the situation is will simply prolong the problem, as happened in Japan and resulted in Japan's lost decade.

"Black stated that Timothy Geithner was engaged in a cover-up, and that the administration did not want people to understand what went wrong or how bad the banking situation was."

 

[georgephillip]

And by propagating the presumption that government will bail everyone out when things go tits up.

Except government did not "bail everyone out..." in the wake of the Great Recession; it bailed out the oligarchs who provide campaign funding while allowing the majority of the oligarchs' victims to lose their homes, jobs, and savings.

 

[dblack]

Except government did not "bail everyone out..."

Of course not. They only bail out their buddies. That's now "free shit" government works.

 

[Mac-7]

Cite the law requiring liars' loans.
Cite the government regulations requiring ratings agencies to give liars' loans triple-A ratings.

The left denies it now, but starting as early as the clinton presidency great pressure was put on lenders to make risky loans on poor neighborhoods

Liberals pushed their favorite minority into situations that were over their heads snd sure to fail

 

[georgephillip]

Anyone who asks a question like that is too stupid to argue with. What did they do? They put their hard earned money down and bought shares, you fucking moron.

How does shareholder money facilitate production of goods and services? Are shareholders assets or expenses? Why is shareholder income prioritized over employee income? What makes you think unearned income is more productive than earned income?
Stock Buybacks Are A Parasite On The US Economy

"Capital Income + Retained earnings = Revenue – (Employee income + Cost of materials)

"Kelly uses some simple algebra to show that this formula could just as easily be re-written as:

"Employee income + Retained earnings = Revenue – (Capital income + Cost of materials)

In other words, the company could just as easily be optimized to maximize employee income. All it takes is a perspective shift.

"Kelly then talks about the fact that employees don’t even show up on the corporate balance sheet.

"That’s because employees are seen as an expense, not an asset..."

The Divine Right of Capital by Marjorie Kelly

 

[georgephillip]

Thus the USSR became infamous for people waiting in line for products and services that the government didn't sufficiently fund and warehouses full of shit no one wanted.

What number of warehouses were filled with shit no one wanted?
The USSR sacrificed production of consumer goods because "the greatest purveyor of violence in the world" forced the Soviets to prioritize military spending.

 

[georgephillip]

Socialists simply can't comprehend the importance of efficient resource allocation. I saw a great presentation, some 25 years ago, from a former high ranking Soviet economic planner. He understood this principle very well - because, for years, it was his job to make the decisions that investors make in a free market: ie deciding which projects should be funded and how much funding they should get.

Socialists understand very clearly the difference between primary and secondary securities markets

Do you?

Secondary Securities Market

 

[bripat9643]

Except government did not "bail everyone out..." in the wake of the Great Recession; it bailed out the oligarchs who provide campaign funding while allowing the majority of the oligarchs' victims to lose their homes, jobs, and savings.

Citing some commie "economist" doesn't support your case.

 

[bripat9643]

What number of warehouses were filled with shit no one wanted?
The USSR sacrificed production of consumer goods because "the greatest purveyor of violence in the world" forced the Soviets to prioritize military spending.

https://www.libertarianism.org/columns/world-without-prices-economic-calculation-soviet-union

Even with the myriad resources at its disposal, Gosplan found itself utterly unable to predict demand. Since output was predetermined on an annual basis, when retailers ran out of a good for a specified year, there was simply no more to go around. Likewise, since prices were fixed by Gosplan, retailers couldn’t lower prices to encourage consumers to buy more of a product they had in excess or raise prices on a product that was in short supply but widely demanded. Chronic surpluses and shortages came to define the Soviet economic experience.​

​

This shows why you're a communist. You're totally ignorant of history and economics

 

[dblack]

What number of warehouses were filled with shit no one wanted?

1,893

The USSR sacrificed production of consumer goods because "the greatest purveyor of violence in the world" forced the Soviets to prioritize military spending.

Of course. It was all someone else's fault.

 

[dblack]

Socialists understand very clearly the difference between primary and secondary securities markets

So what?

I'll repeat this, since you either didn't understand it, or didn't read it:

"Socialists simply can't comprehend the importance of efficient resource allocation. I saw a great presentation, some 25 years ago, from a former high ranking Soviet economic planner. He understood this principle very well - because, for years, it was his job to make the decisions that investors make in a free market: ie deciding which projects should be funded and how much funding they should get."

But you know, just ignore what people are saying and post your propaganda memes instead. Ka-ching.

 

[bripat9643]

1,893

Of course. It was someone else's fault.

His argument is basically "they made the USSR do it! Whaaaaa!"

 

[georgephillip]

So Cuba, Venezuela and North Korea are doing a great job of satisfying the needs of the vast majority?

Cuba has a lower Covid mortality rate than this country.
Venezuela's economy is crippled by illegal US sanctions.
North Korea was bombed into the stone age trying to remove an American-supplied military dictator. Why are capitalists afraid to compete on anything resembling a level playing field?

 

[georgephillip]

It's not fascism.

You're lying

Donald Trump's fascist inclinations do not bother his fans

 

[bripat9643]

Cuba has a lower Covid mortality rate than this country.

That isn't what I asked,

Venezuela's economy is crippled by illegal US sanctions.

They are perfectly legal, and that's what communists like you do whenever one of your disasters occurs

North Korea was bombed into the stone age trying to remove an American-supplied military dictator. Why are capitalists afraid to compete on anything resembling a level playing field?

South Korea was also "bombed into the Stone Age," moron. What could be more level than the competition between North and South Korea?

 

[bripat9643]

You're lying

Donald Trump's fascist inclinations do not bother his fans

Cartoons don't prove diddly squat, moron.

 

[dblack]

Cartoons don't prove diddly squat, moron.

Yes, but they count double toward his posting quota.

 

[bripat9643]

Yes, but they count double toward his posting quota.

George is always talking about logical fallacies. Then he posts a cartoon to support his claims.

 

[dblack]

George is always talking about logical fallacies. Then he posts a cartoon to support his claims.

Cartoons, and other simplistic, populist nonsense, have long been a staple of communist propaganda. They're not trying to make logical argument, just an emotional appeal. They employ envy, fear, racism, slurs, paranoia etc.... to incite the rabble. Much like Trump.

 

[georgephillip]

The market does a lot better job than government does. Why isn't the term "government failure" in your vocabulary?

Because capitalists control every government on the planet today.
Private profits.
Social costs.
Capitalism guarantees market failure due to its inefficiency to allocate certain goods and resources, leading to failures such as monopolies and monopolistic competition.