Why do people think we have Capitalism in the United States?

Why do people think we have Capitalism in the United States?

We have Corporatism not Capitalism. We have government taking over corporations, corporate welfare, too big to fail, government benefits to corporations, lobbying, and the whole Fanny Mae and Freddie Mac fiasco is a perfect example of how government intervention of the free market leads to catastrophe (and in this case, collapse of the housing market). We also have the Federal Reserve printing money right and left even though it is unconstitutional. The constitution says we should have a gold standard, that'-s not monopolized and controlled by the government. The Federal Reserve will be the cause of the collapse of the dollar. Inflation makes your salary and savings all worthless and decreases your living conditions. Now I'-m 14 and even I understand we don'-t have capitalism in the United States (ever since 1913) but idiots like Micheal Moore think we do.

Armchair

This detailed "question" is a bit skewed and, as such, partially inaccurate on several key points. The Fannie Mae and Freddie Mac debaucle was caused, in part, by DEREGULATION from the GOP. This LACK of government oversight and consumer protections both allowed and even ENCOURAGED corruption that began causing problems as far back as 2004, according to National Public Radio's "All Things Considered" broadcast back then to which I listened. If by "government taking over corporations" you happen to mean the GM and Chrysler LOANS (a.k.a., Democrats' bailouts that had to be paid back), this was NOT even close to a takeover---not in the truest sense anyway. The taxpayers owned a 60% share, union workers bought in for a 17% share in exchange for concessions on salaries and benefits, investors (rather than lose everything) took a 13% share, and then a Canadian auto parts dealer bought in for the final 10%. To date, GM has paid us back 8.1 BILLION DOLLARS earlier this year of the money we lent, with more pending---and these dollars ALL went to PAY-DOWN OF OUR DEFICIT! Chrysler has unloaded its hard-to-sell section to a German automaker, designed a new model of the popular Jeep Cherokee and the Sebring, and has moved its 800# Customer Service operations back to the United States in both Michigan and Salt Lake City, Utah---now hiring AMERICAN WORKERS! Fourteen of Bush's bailed-out 419 banks did not like having their executive pay LIMITED by Democrats to $500,000 a year until they paid us taxpayers back, so we received $181 BILLION (including interest) by December of last year---again, dollars that went to PAY DOWN OUR DEFICIT, this time by 8% (Reuters and Washington Post, June posting on Yahoo's home page news). These companies have the option of buying out our invested share, with interest, which means they return to capitalism, but now with consumer protections in place to prevent the need for another taxpayer-funded bailout. The Federal Reserve is NOT, as you say, "printing money right and left" at all---you need to do your homework on this. The stimulus (or Recovery and Reinvestment Act) was for $789 billion and was divided by the Obama administration into a two-year (Fiscal Year) distribution, which means only half has been used thus far and the rest is due out on October 1, 2010, the start of President Obama's second FISCAL YEAR in office and his SECOND submitted budget (the FIRST Obama budget was for October 1, 2009 and runs through September 30, 2010---and this budget was for $90,000,000,000 (that's $90 BILLION) LESS than the final Bush/Cheney FY budget of $1.09 TRILLION submitted October 1, 2008 and to run through September 30, 2009---in other words nine months into the Obama administration.Privately owned FOR-PROFIT companies are CAPITALIST. The 1300 FOR-PROFIT insurance companies that existed in the U.S. before the passage of the health care and insurance reforms STILL EXIST, and they are still FOR PROFIT (as in CAPITALIST), but now they have to also be ethical and FAIR to consumers. The U.S. has always been a yin-yang balance between socialism and capitalism, and (as we've seen with the Great Depression of 1929-1938, with the savings and loan collapse coupled with LOSS of our manufacturing jobs during Reagan/Bush-Bush/Quayle, and most recently with the total COLLAPSE of our housing and credit markets, followed closely with the FINANCIAL SYSTEM MELTDOWN) if this balance of rational moderation is NOT maintained, then either bottomless-pit GREED and CORRUPTION occur through lack of checks and balances, lack of oversight, and no consumer protections in place...or STAGNATION occurs. The Federal Reserve, my dear, is what is PREVENTING INFLATION by keeping our interest rates very very LOW.

Nuts

Because people are ignorant.The same people that throw around socialism, communism, Marxism are the same ignorant people who don't even know we've lost Capitalism.They just do what their masters say, Fox News and Republican politicians.

M

I'm not sure where you got this idea about Michael Moore, as I'm pretty sure he would agraee with you.

LeonKrahe

Since true Capitalism evolved into this current Corpratistic form slowly over time without anybody really coming up with a new term to describe it, the name simply stuck.As someone who actually watched Michael Moore's movie "Capitalism: A love story", he makes absolutely no effort in differentiating today's system from the original form of Capitalism, and since he in that movie states that Bernie Sander's version of Democratic Socialism is "something we should try" in America, he really has no motive for informing his audience that restoring true Capitalism is a viable alternative.Not to mention his love of Cuba, his disappointment in single-payer not happening, and that Obama didn't exert more control over GM as their "de-facto chairman", none of which speaks well for someone who would be against the Government having a direct and permanent hand in directing the economy at all times. He's no less a Statist than the Corporatist, he just differs in the way and who he wants the economy controlled by.

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