The Death of Capitalism, May it Rest in Peace

October 8, 2008 at 10:45 pm | Posted in American politics | Leave a comment

Because private banks got too greedy and will basically ruin the entire economy because of their capitalistic greed, there really are not many other choices now to save the economy than to nationalize America’s banks. Bye Bye Capitalism.

Remember folks, Karl Marx did say that Communism comes AFTER Capitalism. What we saw in Russia in 1918 was not true Marxism. It should be better labeled as Leninism.

But Capitalism has lost. It lost because those who we entrusted with keeping the market safe—the bankers—failed in their duty and tried to run off with as much cash as they could before they could get caught. They knew better, but they failed, because we gave them too much power and trust. They abused that trust, and they deserve our scorn.

Some prophets have warned about days like this, but ironically, they never mentioned that those who they support—the non-governmental private players, i.e. the bankers—would be the ones to fail us, forcing our nation to nationalize banks to ensure the economy does not collapse.

If strong action would not have been taken, or is taken, then what we are talking about is the complete collapse of our economy and most economies around the world. Our economy is too strongly tied to credit. This is something we should talk about more. To safeguard our economy in the future, we have to create a way that protects the rest of the economy when banks go down, because right now, if our banks fail, the rest of the country’s economy fails. And clearly, letting banks “regulate” themselves is a recipe for utter disaster.

Capitalism has died this fall. May it rest in peace.

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