Vital Signs: Is US capitalism dead or dying?

by Barry Artiste | September 15, 2009 at 09:33 am

360 views | 38 Recommendations | 9 comments

Barry Artiste Op/Ed
Well I don't know who pissed in this guys Cornflakes, but I do not think America is dying, perhaps it is on life support, and with fiscal responsibilty on both the consumer and government maybe a cure can be found! Support by consumers to the manufacturing industry and Unions to quit being greedy, and paying off the trillion trillion dollar debt to the chinese may be a start. Oh yeah, those Ponzi schemers and Investment Houses whose immoral acts bankrupted the country even more and put the economy in a tailspin with corrupt practises, should be shot as a lesson to others with grandiose ideas of 30 percent returns. And an Education camp for Investors who think 30% profits on their returns are possible need a good Bitch Slap into reality.

Then fire every goddamn politician who even sniffs of corruption and jail em for life!

Boy that should be easy to do, short of a revolution.

Then and only then would America be on the road to recovery!

Vital Signs: Is capitalism dead or dying?
15/09/2009 10:31:28 AM

Andy Johnson
Sept. 15, 2009 marks the one-year anniversary of the collapse of U.S. financial giant Lehman Bros., which caused deep, worldwide reverberations As we mark the day, CTV.ca presents the second in a six-part series on Canada's economy: the damage done, the recovery that lies ahead -- and whether we might climb out of the financial crisis even stronger.

Is American-style capitalism dying?

According to some, it's already six-feet under, and the crippling recession has dumped dirt on the grave and sealed its fate as a soon-to-be extinct economic system.

But according to others, the system that made America great is still alive and well and poised to regain its place as the envy of struggling economies the world over.

0 See all footage | View Slideshow

Share: email story | add to any | | facebook | stumbleupon

recommend This comment thread is now closed

Roy C

at 11:56 on September 15th, 2009

America is shedding corporatism, the subordination of the state to collusive corporate interests. And, America is shedding the social engineering policies of the left.

They are twin evils.

Capitalism, the use of corporations, ficticious legal entities, to make money, is not going go die. It is going to go local with local food, energy production, local currencies, bartering, and a more local control of laws reflecting the Tenth Amendment.

America's newly found capacity to save, now 10% of disposable income, will subtract a trillion dollars from the world economy over the next year.

So, neo-liberal free trade will die and is dying, but we won't have anything that even remotely resembles nationalized corporations outside of what may be totally necessary.

We are, and we will remain, a mixed economy of state-sponsored and private-capital sponsored economic activity, but less global, and more local.

rand (not verified)

at 13:40 on September 15th, 2009

Actually, if you invert every conclusion that you assert you actually are close to the truth. Globalism is an unstoppable economic force as new markets and middle classes emerge. Integration through the internet will increasingly break down nationalism. Free trade will increasingly become a requirement as economies focus on developing expertise based on pooling of resource and process experience. Socialized -capitalism will become the norm in developed countries as the unregulated cowboy approach produces too much hardship and nations demand basic human rights such as employment potability,health care and increased education. You are one 180 degrees incorrect, and if you looked at data not dogma, you would see how erroneous your conclusions are.

Barry Artiste

at 15:58 on September 15th, 2009

You see Rand, India has had a taste of capitalism for a decade or so,with a burgeoning middle and rich class, but now are experiencing what we in the west are experiencing, and that is outsourcing, as China now is offering cheaper labour than India and the Capitalist corporates notice it and will go to the lowest bidder.

Moscow Russia is most likely the most Capitalist country ever,with Poor and Rich! One only has to walk the streets of these two countries to see what is going on. Capitalism is thriving in some areas, but citizens may revolt as the gap between the rich and poor ever widen, even china is experiencing by hook or crook capitalism. North America I feel is paying the price for outsourcing our birthright, by allowing corporates to give away the Manufacturing Farm to the detriment of North American jobs in exchange for cheap chinese imports. Not a great tradeoff when you count all the angles, from unemployed and little tax bases for towns and cities that once thrived with manufacturing, seafood and farming.

Roy C

at 15:36 on September 15th, 2009

So, where is your data? Where is the link?

I don't see any.

"Socialized-capitalism" is "STATE CAPITALISM" and it fails as soon as it gets big enough, as it did in the USSR, and even in Italy and Mexico.

rand (not verified)

at 16:18 on September 15th, 2009

"Socialized-capitalism" is "STATE CAPITALISM"Really - how about Norway as just one example, France doing better in recovery than the US I could go on but I don't need to. Your conclusion is not supported by evidence

Roy C

at 15:35 on September 15th, 2009

We had very strong unions in the 50s and 60s, which may or may not have been responsible for getting more of the wealth to the working class, creating the greatest middle class the world has ever seen.

The conditions that created that "make it here" approach are being re-created. Globalization will die as national currencies go under and international banking suffers major blows.

That one trillion dollars being subtracted from the world economy by American saving at a ten percent rate will have a big effect too.

rand (not verified)

at 16:20 on September 15th, 2009

Protectionism would be deathIf we start putting tariffs while so indebted - they will pull the plug on the life support system keeping the US economy at least breathing. Develop expertise, product or service and export - then you have a chance. This close the castle walls will just see the US starve as it has no reserves to feed on

Barry Artiste

at 16:03 on September 15th, 2009

Damn straight Roy,though many do not realise, bigger paycheques to the union worker will ultimately costs jobs through layoffs, more expensive manufactured goods in which consumers may look to walmart type discount stores owned by china basically. WHat we need is a balance between better technology to make products cheaper while giving the worker a working wage. THere is no use in saying I am worth 100 dollars an hour, if the person is unemployed or seasonal.