Of course what has happened in America and around the world for decades hasn’t been capitalism but crony capitalism. Every government around the world decided year in and year out what companies to reward, either through tax breaks, or through outright taxpayer money going to those companies. In America, the beneficiaries have been massive, with General Electric, General Motors, all of the ethanol producers, etc. I can only guess that these elites are deciding to put the nail in actual capitalism once and for all and usher in the era of socialism, well in your face socialism. What the United States federal government has been practicing for decades is socialism and we allowed them to get away with it. I would suggest that here in America we go full bore onto capitalism, real capitalism and stop the gravy train of tax dollars to any company. If you have a product that someone wants to buy, then sell it, but don’t come begging to politicians in Washington DC for any taxpayer dollars, looking at you Hollywood Looking At You Also General Electric And You As Well Warren Buffet
Economic and political elites meeting this week at the Swiss resort of Davos will be asked to urgently find ways to reform a capitalist system that has been described as “outdated and crumbling.”
“We have a general morality gap, we are over-leveraged, we have neglected to invest in the future, we have undermined social coherence, and we are in danger of completely losing the confidence of future generations,” said Klaus Schwab, host and founder of the annual World Economic Forum.
“Solving problems in the context of outdated and crumbling models will only dig us deeper into the hole.
“We are in an era of profound change that urgently requires new ways of thinking instead of more business-as-usual,” the 73-year-old said, adding that “capitalism in its current form, has no place in the world around us.”
Some 1,600 economic and political leaders, including 40 heads of states and governments, will be asked to come up with new ideas as they converge at eastern Switzerland’s chic ski station for the 42nd edition of the five-day World Economic Forum which opens Wednesday.
The eurozone’s failure to get a grip on its debt crisis and the spectre this is casting over the global economy will dominate discussions.
Their problem is their failure to be honest that socialism, a cradle to grave society doesn’t work. You cannot pay people to retire in their 40s who live to their 80s and pay them for half their lives to sit on their big backsides. That Barack Obama thinks this is the way forward for America when the European countries are learning the hardest of lessons now, shows the ignorance of the left. There is no perfect world, there will always be the lazy that will drag down a leftist society.