Peter Schiff at Occupy Wallstreet debating some protesters , he says that it is not the fault of capitalism we have not tried capitalism yet , capitalism means private losses and private profits , it does not mean private profits and socialized losses , the problem is the banks are keeping interest rates artificially low to prop up the speculative activity on Wall Street what we actually need in this country is higher interest rates not lower interest rates because that will take out money from Wall Street and put it on main street says Peter Schiff , businessmen cannot borrow money at these low interest rates it is all going to the government to guarantee debt to the treasury market to the corporate bond market there is no real capital available foe main street Peter Schiff added....
PETER SCHIFF
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Disagree with you Peter.
ReplyDeleteCapitalism by nature favors (via our nation's laws) capital over labor. This is inherently unsustainable. As Abe Lincoln said; labor comes first -- therefore it is higher than capital.
Communism is no ownership and equality for all (in theory) and Capitalism is capital available to anyone who works hard (in theory).
The reality doesn't match the theory as 99% of us know, or whatever the percentage is. From the beginning of the USA capital (land) was favored over labor. If you didn't own land, you could not vote.
The only way capitalism can work is with aggressive regulation to balance the rights of capital and labor.
I think the natives had it right. Nobody can own the land, the sea, the air. The genie is already out the bottle; however, no way to ever put it back in.
why dont we have more of an open dialog like this? This is healthy, I think we should put wallstreet, corporate america, and the representatives/lobbyist on trial and demand a formal investigation.
ReplyDeleteWe need to move this occupation to Washington!!!!!!!!!!!!!!
ReplyDelete