Friday, May 14, 2010

The Return of Madcap Capitalism

By Robert Parry
May 14, 2010

For much of the post-World War II era, there was a broad consensus that well-regulated capitalism – paired with an effective public sector – was the economic model that worked best, especially compared with the Soviet Union’s heavy-handed central planning or the madcap capitalism that had led to the Great Depression.

Read on.

7 comments:

Anonymous said...

Parry,
It's time you dumb liberals STOP blaming Bush. How long has your President been in office? Even other countries are laughing at him blaming Bush for everything.
Obama's mistakes are NOT BUSH's fault.

Phyllis said...

Bush-blaming is merely truth saying. He did bring on the huge deficit, wiping out the Clinton surplus and TARP is his baby. The wars he started (although it is Obama's mistake to keep them going) helped bankrupt the country. Bush's people flooded the regulatory agencies and did nothing. I've seen this in other countries--a right wing government comes in, even as a minority government in Parliamentary terms, then appoints do-nothing heads of regulatory agencies. Simple but disastrous for the country's future--much like Bush himself.

Anonymous said...

I agree with practically everything you say in your piece about corporations and the idiocy of self regulation but the turning on Obama is nonsense. The repugs were never going to support him and all of Obama's bipartisan talk would have been fine if that was all it was. Unfortunately Obama believes his hype and thinks he is god's gift to america and so he pre-negotiated anything good in the healthcare bill away. So those of us that turned on Obama do so because we see what he really is another bought and paid for by big insurance and big pharma shill. THAT is who his healthcare bill is for and the middle class got screwed again.

Besides you are forgetting those same idiots that said repealling Glass seagall was a good thing are the guys running the show this time around. I think we need to throw out every incumbant, dem and repug, for the next couple of rounds and show pols we are serious about change. Then we need to establish public financing and shorten campaigns. At that point we will have a government for the people, by the people and of the people.

John Steinsvold said...

An Alternative to Capitalism (which we desperately need here in the USA)

The following link takes you to an essay titled: "Home of the Brave?" which was published by the
Athenaeum Library of Philosophy:

http://evans-experientialism.freewebspace.com/steinsvold.htm

John Steinsvold

Frank said...

A very good article, as usual, but I do wish Mr. Parry would realize that we've got it on the subject of the paucity of media financing by the Left (whatever that word means in the U.S. today).

Perhaps factors other than Mr. Parry's claims of tightfistedness and shortsightedness, including a number of things mentioned in his article, could also be part of the problem. How about all that money transferred upwards ("stolen" might be a much better word) over these past 40 years of mostly-Republican misrule?

Anonymous said...

Treasury last week announced that 10 of the biggest banks that received TARP money, many under the prodding of then-Treasury Secretary Henry Paulson, would be allowed to repay the funds — a total of about $70 billion if it’s all paid back.


The development was cheered by those firms, and the administration touted it as a sign of financial recovery.


But it failed to satisfy GOP critics of the program, since the administration would not promise that the returned money wouldn’t be lent out again in future rescue operations.


On Friday, more than two dozen House Republicans, including the GOP leadership, sent Obama a letter — which was followed by a press release to the media — urging him to use the repaid TARP funds to “pay down the national debt and help restore lost confidence among American taxpayers.”


“This money is not a discretionary slush fund for the Treasury and the Obama administration,” said Sen. John Thune (R-S.D.). “Congress controls the power of the purse, and this money should be directed toward debt reduction. Treasury has greatly expanded the original intent of the TARP funds, and spending those funds that have been returned as they see fit is unacceptable and puts taxpayer dollars at greater risk.”

Stop Spending IDIOT LIBERALS.

Anonymous said...

Treasury last week announced that 10 of the biggest banks that received TARP money, many under the prodding of then-Treasury Secretary Henry Paulson, would be allowed to repay the funds — a total of about $70 billion if it’s all paid back.


The development was cheered by those firms, and the administration touted it as a sign of financial recovery.


But it failed to satisfy GOP critics of the program, since the administration would not promise that the returned money wouldn’t be lent out again in future rescue operations.


On Friday, more than two dozen House Republicans, including the GOP leadership, sent Obama a letter — which was followed by a press release to the media — urging him to use the repaid TARP funds to “pay down the national debt and help restore lost confidence among American taxpayers.”


“This money is not a discretionary slush fund for the Treasury and the Obama administration,” said Sen. John Thune (R-S.D.). “Congress controls the power of the purse, and this money should be directed toward debt reduction. Treasury has greatly expanded the original intent of the TARP funds, and spending those funds that have been returned as they see fit is unacceptable and puts taxpayer dollars at greater risk.”

Stop Spending IDIOT LIBERALS.