Quote:
Originally Posted by DrPhil
That sounds like letting capitalism crumble so that we can give rise to socialism (or the, much better approach, combination of capitalism and socialism). In other words, what will happen after the crumble?
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While I'm not really in favor of capitalism from an ethical standpoint, that's what we have in this country. If we want to be capitalists, we should let capitalism do its job which means weak businesses go under while strong businesses merge to create mega powers.
After the crumble, we'll have an upswing as we always do. What we're doing now mirrors what we did in reaction to the Great Depression. We pumped tax payer money into the economy and extended the depression all the way into WWII. That's not to say that the war ended the depression. I'm just highlighting that the Great Depression lasted at least the twelve years from 1929-1941.
We're not even in a full-on depression yet and we've already got two enormous stimulus packages plus the latest mortgage bailout nonsense that Obama is working on now. I understand where he's coming from and why he's doing it, but I don't think it's the right move.
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