Republican presidential hopeful, Newt Gingrich, got it right. He said,
"If we identify capitalism with rich guys looting companies, we're going to have a very hard time protecting it." (Toronto Star, Jan 21, 2012). If he just changed 'companies' to 'workers', he would be there.
The same article, though, shows just how dazed and confused the press is. Gingrich was defending himself against 'anti-capitalism charges'. That's because he attacked opponent, Mitt Romney for his leadership of a private equity firm known for plundering floundering companies and tossing workers into the streets and walking away with $250 million. Later on the article says, " Was Karl Marx correct? Is the boom and bust cycle about to go bust forever?" Something he never supported, of course. And this, "socialism is for tycoons and capitalism is for the rest of us." Go figure where that one came from. Dazed and confused!
The National Post, the mouthpiece of laissez faire (unfair) capitalism Reported that the capsizing of the Costa Concordia would cost the owners $90 million US not counting the impact on bookings. Shares in the cruise company are down 16% reducing the company's value by $1.09 billion. Wow, the social good we could do with that kind of value!
The Toronto star reports that 297 000 UK firms folded in 2010 – 813 everyday. On the same page it is remarked that Ekaterina Ribolovlev, 22 year-old daughter of Russian billionaire. Dymitri, bought a New York apartment for $88 million -- 10 rooms, 6 744 square feet. The
differences in human fortunes are truly staggering. Surely there will be a call for the end of this nonsense.
Well, it seems there is one alternative -- 'System D', the black market, the lemonade stands, flea market vendors, etc. About 1.8 billion people are counted in this class with an economy as large as that of the US. It's all cash and no taxes. Apparently, System D outperformed the regular economy as the recession hit. John Ayers
"If we identify capitalism with rich guys looting companies, we're going to have a very hard time protecting it." (Toronto Star, Jan 21, 2012). If he just changed 'companies' to 'workers', he would be there.
The same article, though, shows just how dazed and confused the press is. Gingrich was defending himself against 'anti-capitalism charges'. That's because he attacked opponent, Mitt Romney for his leadership of a private equity firm known for plundering floundering companies and tossing workers into the streets and walking away with $250 million. Later on the article says, " Was Karl Marx correct? Is the boom and bust cycle about to go bust forever?" Something he never supported, of course. And this, "socialism is for tycoons and capitalism is for the rest of us." Go figure where that one came from. Dazed and confused!
The National Post, the mouthpiece of laissez faire (unfair) capitalism Reported that the capsizing of the Costa Concordia would cost the owners $90 million US not counting the impact on bookings. Shares in the cruise company are down 16% reducing the company's value by $1.09 billion. Wow, the social good we could do with that kind of value!
The Toronto star reports that 297 000 UK firms folded in 2010 – 813 everyday. On the same page it is remarked that Ekaterina Ribolovlev, 22 year-old daughter of Russian billionaire. Dymitri, bought a New York apartment for $88 million -- 10 rooms, 6 744 square feet. The
differences in human fortunes are truly staggering. Surely there will be a call for the end of this nonsense.
Well, it seems there is one alternative -- 'System D', the black market, the lemonade stands, flea market vendors, etc. About 1.8 billion people are counted in this class with an economy as large as that of the US. It's all cash and no taxes. Apparently, System D outperformed the regular economy as the recession hit. John Ayers
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