SciFiBoy said:
HappySqurriel said:
SciFiBoy said:
HappySqurriel said:
SciFiBoy said:
Capitalism has failed |
Capatalism can not fail anymore than evolution can fail ...
|
wtf?
are you being sarcastic?
|
A recession/depression is not a failure of capatalism anymore than a plague, drought or famine is a failure of evolution ... they are a period when weaker entities are culled which ensures the health of the system (as a whole) over time.
This recession/depression in particular can not even be considered to be caused by the free market being the influence of the Federal Reserve as well as changes in regulation were major factors into how the market got so out of balance that such a major correction is in order.
|
if we had regulated the markets then we could have stopped irresponsible lending and ensured the economy works the way it should for the benefit of the people
|
I think you need to understand the influence that regulation (in the form of the Fair Housing Act) had on irresponsible lending before you claim that further regulation would have corrected to problem ... There are some very well known lawyers who successfully sued banks because they refused to give loans to people who had no income.
