In response to:

Idiots All

johnm h Wrote: Nov 22, 2012 7:12 AM
He was on a role, then ended up with comparison of a puny tax hike with the run away corruption at the top. Corruption is the issue, crony capitalism, the march towards an American brand of fascism, which unlike Europe's of the 30s will be deeply corrupt, disorderly, incompetent, but frustratingly long lasting and difficult to reverse. It's a gigantic tragedy. The tax cut is dumb, harmful won't raise revenues but is small potatoes.
NewJAl Wrote: Nov 22, 2012 7:35 AM
johnm h Wrote: Nov 22, 2012 7:42 AM
Not really. Crony capitalism looks like a market, looks like freedom, but is a brand of fascism controlled by the political class and the plutocrats who support them. It's far worse because it's easier to demagogue, more difficult to name and requires effort and an honest media to uncover.
Bernard83 Wrote: Nov 22, 2012 8:42 AM
And if you voice your opposition to anyone or anything you are labeled a racist.
FletchforFreedom Wrote: Nov 22, 2012 11:17 AM
Please refrain from using the oxymoronic phrase "crony capitalism". It does not exist - it CAN'T exist. Capitalism is neither more nor less than the free market. The intervention of government into the economy in ANY form is, by definition, socialism (even if it is the fascistic variant).
johnm h Wrote: Nov 22, 2012 11:50 AM
Actually it was first used to describe Marco's Philippines where the private sector using populist rhetoric was handed out to cronies, and the major export crops were organized as monopsonies and its producers, suppliers, processors were squeezed from above the coconut and sugar growing regions turned into company towns. It looked like a market, was sold as a market, but it was run by Marcos and his cronies for their personal benefit. Capitalism is a weak term and can pertain to any economy. Free markets under the rule of law as used by Hayek actually means something.
johnm h Wrote: Nov 22, 2012 11:54 AM
Socialism has a meaning, so does fascism. Obama is closer to the latter, but crony capitalism is an important tool. After consolidating control of the medical care system, they will control prices and profits of insurance, drug, medical suppliers, and medical professionals all under the pretext of lowering prices. When we call it socialized medicine their reply will be but drug companies, etc. are all private. Words matter and we need to call the thing what it is and why. They will control not own but they will extract all surplus for themselves and their supporters.
johnm h Wrote: Nov 22, 2012 11:56 AM
This is one of the reasons they are trying to drive the Catholic hospitals out of the business.
FletchforFreedom Wrote: Nov 22, 2012 1:10 PM
Whenever it was first used hardly matters. What matters is the correct usage of the terms. Socialism has a meaning: the exercise of the powers of ownership over the means of production, usually by the state. This definition includes all the variants including communism, democratic socialism, those aspects of an economy under interventionism (as in the US), corporatism/corporativism and fascism (where only the terminology of capitalism is falsely retained). Fascism has long been recognized as only a variant of socialism.

We’ve already established that no one will go to jail over $40 billion turfing of the brokerage firm MF Global, one of history’s largest bankruptcies.

MF Global died by the hand of the former Jon Corzine, the former golden boy at Goldman Sachs, the former Senator, the former Governor, the former Obama guru with a master’s degree from the University of Chicago; the sage with the Sixties beard wrapped in a custom-made Burberry suit and tie.