[arthurcolle]

Economics and related industrial, business, and commercial activities are designed to systematically control and subjugate individuals by imposing a way and manner of thinking that effectively short-circuits individual thought and responsibility - one feels obligated to deliver arbitrary end-goals because of a misplaced sense of "responsibility" despite having limited (in some cases, zero) real/effective ownership in the created output, while still feeling the brunt of "production support" and sometimes even the product decisions in and of themselves.

In spite of this, the owners of capital still reap all the reward, in spite of their distance from the actual decision making that actually shapes and molds the end-result.

[starpilot]

So there was a whole book about this, Power Elite by C.W. Mills. I suspect quite a few people know this.

[arthurcolle]

I think capitalism can work but we don't have pure capitalism - corporatocratic bailouts have been normalized since the 1990s, and as a result, all systemically important losses are socialized, while the gains are always split across a handful of criminals that exploit a system they partially mold to their own liking in order to propagate the toxicity that enables them to further their own interests.

I predict that the Federal Reserve will gain new powers within the next quarter that will enable them to indefinitely prop up equity markets through large-scale asset purchases in the equity markets through some novel facility (I'm sure it'll have some super cool new vernacular as well) that changes all the rules and allows for unilateral action without any covenants - awesome!

For any speculators out there - just buy calls, nothing can go down anymore. Easiest outlook EVER.

[KaiserPro]

again, this isn't new, Just look at the collapse of the east india company.

basically a few people treated it as a way to live like a king, and it collapsed. The state stepped in and took it over, because it was too big to fail.

[me_me_me]

How do people arrive at this point.

It feels like a religious chant. Invisible hand will self regulate and everything will be great as long as you submit.

In all recorded history there has been no case where due to lack of regulation society 'self regulated' itself into some idyllic dream state.

The less oversight the more rule of the strongest/most selfish prevails.

Looking back at history of European nations, the struggle between classes: Ruling class, aristocracy (wealthy class) and others (people with low on no power), always gives the same outcome when one class out-powers others. In Russia ruling class took all power (to this day really), Poland and Hungary the wealthy took power and gouged kings rights to the point where they ruled. And as they ruled they drained their respective countries of wealth and future.

Then we have Britain with Magna Carta that regulated and prevented each class from winning over others. I don't think I need to explain how that worked out for Britain.

Pure capitalism is actually happening right now, what you point to is nothing but outcome of the wealthy controlling government to do their bidding.

USA where harsh capitalism is for poor, and socialism is for the richest.

Bailouts are nothing less then socialism is for the richest. It was the banks that coined the term 'too big to fail' not some leftwing nutjob.

Gangrene is not bad but because you are trying to heal it your leg will rot.

[dennis_jeeves]

Old news really. Curious, after how many years of working did you realize this?

[KaiserPro]

Quite a lot of people have read Marx and derivative works...