View Poll Results: Is the OWS Movement against Capitalism?

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  • Yes

    50 52.08%
  • No

    41 42.71%
  • I don't know

    5 5.21%
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Thread: Is the OWS against Capitalism?

  1. #291
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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by Proud South Korean View Post
    Sorry, mistaken Ford for GM.
    My point is that the poor needs the wealthy to live. I'm not inciting class warfare, I said numerous times how both sides need each other.
    Just imagine a US without its major corporations, banks, companies, partnerships, etc... Millions will be unemployed, foreign governments and corporations will gobble up the US like never before, and there will be chaos.
    Sorry about that analogy. I need to work on something more. Its basic point is how no matter how much you hate it, you shouldn't destroy it because it's necessary. A better one would be how anarchists hate government, but can't survive without one.
    Tolerate it
    I have no problems with corporations like intel, msft, google, etc. that make money of off innovation, but i dont believe banks have a right to profit and create money out of thin air. Thats what created these bubbles and collapses. They were profiting of of things that just werent there. Hence peoples savings get wiped out and students cant find jobs to pay off loans.
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  2. #292
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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by Mycroft View Post
    Your right. The stimulus DIDN'T bail out Main St...but it was supposed to. You can thank Obama for that one.
    It wasn't supposed to bail out anyone. It was supposed to create demand and get money flowing again in the economy. Unfortunately obama borrowed a failed right wing theory that tax cuts do that. They don't. Spending does that.
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  3. #293
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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by 99percenter View Post
    I have no problems with corporations like intel, msft, google, etc. that make money of off innovation, but i dont believe banks have a right to profit and create money out of thin air. Thats what created these bubbles and collapses. They were profiting of of things that just werent there. Hence peoples savings get wiped out and students cant find jobs to pay off loans.
    I do agree regulations on banks needs to be tightened, yet consider this. They are the financiers, the ones that run the financial system.
    I know how many of their business are corrupt, yet that doesn't mean that the banking system should fail. What about welfare checks that are taken advantage of? The banking system is just like any other system, it has its corruption (more than most, but then again, it brings more benefits than most other political, social, or economic systems), but that's no reason why it should be abolished
    "The misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all" - Joan Robinson
    "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries" - Winston Churchill

  4. #294
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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by Proud South Korean View Post
    I do agree regulations on banks needs to be tightened, yet consider this. They are the financiers, the ones that run the financial system.
    I know how many of their business are corrupt, yet that doesn't mean that the banking system should fail. What about welfare checks that are taken advantage of? The banking system is just like any other system, it has its corruption (more than most, but then again, it brings more benefits than most other political, social, or economic systems), but that's no reason why it should be abolished
    Welfare checks getting abused doesnt create financial collapses that we saw in 08. Banks buying and selling worthless assets does. In iceland this created debt that was larger than there economy. Banks should be making minimal profit. Just pay operating costs, salaries, etc. and be done with it.
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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by Camlon View Post
    I am sorry. Obama may have parts of the blame, but Bush created TARP, and those hidden bank bailouts that are 10 times the size of Tarp.
    Tarp = Wall St. bailout.

    Stimulus = Main St. bailout.

    Tarp worked. (though it cost too much) Stimulus didn't.

    Neither should have been enacted.
    TANSTAAFL

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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by 99percenter View Post
    It wasn't supposed to bail out anyone. It was supposed to create demand and get money flowing again in the economy. Unfortunately obama borrowed a failed right wing theory that tax cuts do that. They don't. Spending does that.
    It was supposed to create jobs. Remember the "unemployment won't be over 8%"?

    It didn't.
    TANSTAAFL

    “An armed society is a polite society.”
    ― Robert A. Heinlein, Beyond This Horizon

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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by Mycroft View Post
    Tarp = Wall St. bailout.

    Stimulus = Main St. bailout.

    Tarp worked. (though it cost too much) Stimulus didn't.

    Neither should have been enacted.
    The only thing tarp did right was save the auto industry.
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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by Mycroft View Post
    It was supposed to create jobs. Remember the "unemployment won't be over 8%"?

    It didn't.
    I agree. Too many tax cuts not enough spending.
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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by 99percenter View Post
    I have no problems with corporations like intel, msft, google, etc. that make money of off innovation, but i dont believe banks have a right to profit and create money out of thin air. Thats what created these bubbles and collapses. They were profiting of of things that just werent there. Hence peoples savings get wiped out and students cant find jobs to pay off loans.
    Problem is, people like you get equally mad when you realize that the tighter regulations, means no loans for you.

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    Re: Is the OWS against Capitalism?

    Quote Originally Posted by 99percenter View Post
    Welfare checks getting abused doesnt create financial collapses that we saw in 08. Banks buying and selling worthless assets does. In iceland this created debt that was larger than there economy. Banks should be making minimal profit. Just pay operating costs, salaries, etc. and be done with it.
    I fail to see why banks should make minimal profits. They are a business, devoted to making maximum profits within the boundaries of law, just like any other corporation or company
    "The misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all" - Joan Robinson
    "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries" - Winston Churchill

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