Why doesn't socialism work?

Why should I? The Swedes move out to a lot of places. A great many live and work in the south of France. (At multinational companies like Airbus.)

I've worked with Swedes here in Europe for decades. Intelligent people.

But not more so than anyone else who had a damn fine Tertiary Level Education ...

 

Done so upthread.

 

The point of dragging Langley kicking and screaming to the water's edge - is that the Federal Reserve is a privately owned bank.

It's shareholders are the banks within the system, which are all, of course, owned and controlled by the central bankers who have always sat above the system.

They crafted language in The Federal Reserve Act to give it the appearance of being a federal agency that is under the oversight of the Executive branch and Senate, but that is nothing more than subterfuge. The bankers themselves set the Feds policies, interest rates, money supply, etc - with no input or control from the Federal government.

The Federal Reserve Act was written by Paul Warburg, whose family is, not surprisingly, still actively involved, as are the all of the families of the ruling, banking elite.

Al Gore's daughter actually married into the Schiff family. Papa must have been thrilled!!

Warburg was an employee of the Rothschild banking family in Europe and was sent to the U.S. to assist J.P. Morgan, Jacob Schiff, Frank Vanderlip, et al, in crafting and passing into law the Establishment of a central bank. Warburg was the first Chairman of the Federal Reserve.

The Rothschilds had been trying to reestablish a central bank in the United States ever since Andrew Jackson successfully, and thankfully, scuttled the 2nd Bank of the United States.

The Rothschilds provided funding to the South during the Civil War, and tried to force Lincoln to succumb to their demands, but they failed. Lincoln told them to piss off, and began printing "Greenbacks" that remained in circulation til the 1960's.

After their attempts to blackmail Lincoln failed, they created several "panics" along the way. Most notably in 1895 and again in 1905, most of which was the doing of J.P. Morgan - a Rothschild associate.

Once they had control of the money supply, they were then able to manipulate conditions to bring about the global depression that they triggered in 1929 with the stock market crash.

It is important to understand that the central banks in the US and Europe operate together as a cartel. Once you understand that, you can begin to make sense of why booms and busts are artificially created for their benefit.

 

Republican orthodoxy around the money supply contributed to the problem. It's not as simple as pointing an accusing finger and Bernanke does a fairly good job of explaining.

Mostly, given they controlled Congress, the White House, the Fed, and SCOTUS. It's one of those "it happened on their watch" things.

 

Schumpeter didn't put a time frame on it. Also it is amusing that you call the article opinion when, based on investigating similarities between Marx and Schumpeter, it provides multiple quotes from Schumpeter proving that you are wrong and have misrepresented the creative destruction approach.

 

"Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations."

https://www.federalreserve.gov/faqs/about_14986.htm​

Yeah, well, don't get wet at the water's edge.

Yeah, sure, it was created as liberal plot designed to make Trumpers look stupid.

"Is the Federal Reserve accountable to anyone?
Yes, the Federal Reserve is accountable to the public and the U.S. Congress. The Fed believes transparency is a fundamental principle of central banking that supports accountability."

https://www.federalreserve.gov/faqs/about_12798.htm​

What's your crackpot source for this nonsense?

 

And it will never happen. Schumpeter as you know was not an advocate of socialism. And his creative destruction is only serving to strengthen capitalism.

BTW, the article is behind a paywall. You can cherry pick anything to prove anything that you want. Google 2+2=5 sometime.

 

You've got nothing but talking points and stupid insults.

 

The middle class continues to fall apart under the GOP tax rates. We have a flat tax system now if you count all taxes totally unfair to the middle class. Google the only tax graph you need to know for Christ's sake....

 

I appreciate comedy. Keep it up as above.

 

The bloated Rich should pay for it. Everyone else is paying plenty of taxes.

 

Your preference to misrepresent is really rather depressing. That article proved you were talking out of your backend. Schumpeter used creative destruction to show how capitalism is eventually doomed. Now you might want to dispute that approach. I certainly would. However, if you continue to use his 'creative destruction' you are deliberately trying to mislead. Isn't that the norm amongst the right wing mind you?

 

1) If they've sensibly taken a course which will earn them that ($100k) right out of the gate, then that debt is no problem at all. Can be paid off in a couple of years. Again, assuming the kid is sensible enough to remain living at home until the debt is gone. That leaves only the self-indulgent kids who refused to play by the rules .. and I don't really think you should be pleading their case, do you?

2) People who expect to live where they can't afford to live, fall into the same category as the self-indulgent student. Best ignored in favour of people who work with reality.

3) What freaking value does privacy have, and what does it actually provide? Zip, that's what. This expectation of one dwelling per individual or couple is a terrible affliction of the First World, and a big part of why we're now doomed. And 'your own private place' is very much a decrease in standard of living if you can barely pay for it.

 

You should be educated, not amused.

Marxism-Leninism was behind the Soviet Union and Maoist China. Anyone who doesn't know that is plain clueless about history.

No one has addressed the problem of capital allocation.

There are potential solutions to the capital allocation issue I raised but none of the advocates, including you, are bringing them up. Why not? Because none of you appear to know anything about the matter.

It's time you guys stopped acting like Trumper idiots.

 

Here... enjoy!



Fatso doesn't call COVID-19 a "hoax" any longer.

 

In fact, technology is accelerating. And what I mean by that is our Industrial Age ended when China became a major purveyor of low-cost goods in the 1980s. The Information Age is in full swing and its development of new technologies is quite impressive. (Even if far too many come from China, which has also become a major technology competitor.)

But I wonder just how far that can go if we cannot graduate more students into technology-development because they cannot afford the debt necessary for the necessary degree. Which means what?

That more and more technological innovation will be imported from abroad (China and Europe). Which does not particularly bother me because I live in Europe;

But for America it means fewer jobs from Advancing Technologies for Americans. (We can literally throw away our money on the DoD, but we cannot offer free Tertiary Education.) This is the very same question that was posed at the end of the 19th and beginning of the 20th century, when the US woke up to the problem of inadequate Secondary Schooling and decided to make state fund it as a public-expense.

Frankly, I think Uncle Sam is in that very same dilemma once again when the Internet pushed the country into the Information Age at the turn of the 21st century ...

 

Please don't bore me, given your uneducated cliched position.

It is irrelevant to socialist political economy mind you. Shame reality is such a bind for you.

Is this even an argument? Crikey, your lazy comments are standard right wing grunt.

Cretinous effort. There is no attempt to reply to my comment. You have been caught out spreading right wing grunt "government is socialism" comment. Own it. You're no feckin different to the "Trumper idiots"

 

That’s BS. He observed the phenomenon and labeled. He didn’t create it to accomplish anything. Creative destruction is not a weakness of capitalism, it is the strength of capitalism.

 

There you go again.

Trump has never called the Corona virus a hoax. But what can be expected from the cartoon meister.

 

AI and quantum computers will take jobs from computer literate types, too.

I attended a university in California in the 1960s for $60/semester. While it wasn't free, it was close enough to free that it helped young people get an education without running up a huge debt.

This guy?

The (economic) multiplier for education is huge.

 

More lies. Why does this forum allow you to lie? Schumpeter used creative destruction to show how socialism would be the ultimate outcome. That isn't opinion. That is feckin fact.

 

What a load of toss! The multiplier effect is only really hampered with specific expenditure such as military spending.

 

More BS. Disappointing but not unexpected.

 

Those wacky academics. ^^^

 

You think facts are BS? Even when I've proved you're wrong with an article that quotes Schumpeter? Wow. America is lost.