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kentuck

(111,094 posts)
Tue Apr 14, 2020, 12:10 AM Apr 2020

Back in the USSR ?

When the Soviet Union fell, it was quick.

Is American capitalism going the same route?

The Fed told the Wall Street crowd that they had unlimited money to spend to save the system when panic set in on Wall Street a couple of weeks ago. They were ready to feed it trilliions of dollars to save it. It was socialism for the rich, in the most classic form.

If capitalism is in trouble, we will not know for sure until after the fact. We will continue to operate as if nothing has changed. But if the economy collapses and businesses collapse and there is massive unemployment, there is a serious problem with our economic system.

Perhaps it is not a problem with capitalism in general, but only the American version of capitalism? I tend to believe it is the former.

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Back in the USSR ? (Original Post) kentuck Apr 2020 OP
Not so much American capitalism, but America as a world leader. PoindexterOglethorpe Apr 2020 #1
Pure socialism and pure capitalism are both problematic, the goal is to strike the right balance. thesquanderer Apr 2020 #2

PoindexterOglethorpe

(25,857 posts)
1. Not so much American capitalism, but America as a world leader.
Tue Apr 14, 2020, 12:59 AM
Apr 2020

And it may very will be a quick fall. A lot depends on the November election. If Donald Trump and most Republicans are not replaced, then, quite frankly we are all doomed and our entire way of life will quickly disappear. If Democrats are elected, if people come together to help each other out -- as they are already doing, which gives me a lot of hope -- then there's a chance.

But in the long run, this country will not be on top forever. That's just not the way it works. We reached our high point on November 21, 1963. From there it's been all downhill. Well, not exactly. We plateaued for a long time, until about 1980. With Ronald Reagan the downward slide clearly began.

Right now we are in a Crisis that will change everything. I urge everyone to read The Fourth Turning by William Strauss and Neil Howe. It came out in 1997, so there's a lot of guesswork, but some if it is jaw-droppingly prescient.

Essentially everything will be different once we are through this Crisis. It's my considered opinion that we'll come out with some kind of universal health care, possibly a universal basic income, perhaps SNAP (otherwise known as food stamps) for all, reduced student debt and greatly decreased costs to attend a public college or university. For the next couple of decades there will be a sense of cohesion, a sense that we are all in this together and we must help each other out. Taxes for the very rich will be raised. Even moderately higher income people may well pay higher taxes. But for the most part we will all be okay with that, because we will all understand how vital it is to rebuild, to give everyone a chance, to make sure that no one starves or is homeless.

It won't be a perfect world (a perfect world can't exist here; it might possibly exist in some other plane of existence, but that's not the topic of discussion here) but it will be a better world.

thesquanderer

(11,986 posts)
2. Pure socialism and pure capitalism are both problematic, the goal is to strike the right balance.
Tue Apr 14, 2020, 11:18 AM
Apr 2020

America may be too skewed to the capitalist side, but that doesn't mean that the answer is to move away from capitalism completely. (An answer to your last sentence, "I tend to believe it {the problem} is the former {capitalism in general rather than America's version}." )

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