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Akvod on 09 July 2010
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irstupid said:
Akvod said:
irstupid said:

so your big on socialism huh


Isn't socialism where the government owns the means to production (capital) vs capitalism (private ownership of capital)?

I don't see how the government buying goods, lowering interest rates (they're already at or near 0 now), lowering taxes, giving stimuluses, etc is socialism.

The corporations don't have to sell the goods and services to the government, but I don't see why they wouldn't if they were rational and selfish beings.

ah i guess it might actually be a bit more communism to have all classes earn the same money

both are similar in that they aim to not have rich and poor but everyone living the same standard of living.  teh 40-45% as the OP put.

But my point isn't talking about what people want, but what the actual state of the US is. Maffoo stated that this desire is the cause of the financial crisis, which is just... retarded. I mean, the reality was that there's huge income disparity, and many people likened the recent years as the Gilded Ages of the 20's.

But my point is that I don't think any of that matters, the cause of the current financial crisis was the reduction in asset values (real estate specifically), that lowered consumer confidence and expenditures. People's wealth fell when home values plumetted, and not feeling as rich as they thought they were (true, people got less wealthy, but WAGES, INCOME, remained the same, and therefore their purchasing power stayed the same), they started to spend less.

The rest is history.