Friday, October 10, 2008

reckless finance, failed politics, and the global crisis of american capitalism

so we posted some videos of kevin phillips speaking back in july.. repeating his mantra of the last few years.. "it's going to collapse"..

now his mantra is "we're not even close to the bottom"






p.s. sr do you have my copy of Boiling Point?

19 comments:

Anonymous said...

well fuck me

Anonymous said...

Well, at least I have very little to lose.

BMS said...

I don\'t think it\'s right to pin this on capitalism when anyone with half a brain can recognize that the larger corporations with large stakes in our economy know they can run amok with no consequence and the government will be ready to step right in with a socialist bailout if and when they fail. That\'s not capitalism.

The corrupt executives of these corporations can take any risks they see fit because they know they\'re playing with house money in the end. That\'s not capitalism.

So until a precedent is set where these executives start reaping what they are sowing and not being rewarded in the millions of dollars when they run their corporations into the ground and the government stops swooping in to save them, it\'s absurd to blame this on free market capitalism. We have no such thing here.

In my estimation, capitalism\'s major flaw is that progress in the arts doesn\'t seem to be equally rewarded as progress in other sectors. But it stands head and shoulders above all the other alternatives we have seen in the history of civilization in regards to its creation of wealth and achievement.

BMS said...

Let me add that I don\'t think I am disagreeing with Kevin Phillips\' when I say that. He highlights the corruption that lead to this current crisis, and the lack of accountability that poisoned the culture on wall street. There\'s really no disagreeing with that.

Anonymous said...

who the fuck gives a shit about wealth and \"achievement\" other than douchebags?

bms said...

You\'re right, only douchebags care about human achievement and rising above poverty. Standing in line to get bread in a Che T-shirt does sound appealing and all, but I\'ll pass.

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