Since the idiot-with-teeth-and-boobs emerged, decrying "capitalism" and seemingly picking up support from a widening circle of The Glitterati (the useless class), we've heard full-throated screaming from "conservative" commenters--some on local radio--defending "Capitalism."
They never seem to mention that in America and the rest of the West, "capitalism" is highly regulated. Naked Capitalism does not exist in this country or any other. The argument is only over 'how much' to regulate (and tax). And, of course, over cui bono?--who will benefit.
One example of the questionable cui bono is mentioned here: (HT: Grim)
...Land and homes are being purchased at 20% to 50% above the asking price, using money that investment capital controls from the Federal Reserve. What this means is that the [investment] firm can buy homes using money that was created out of thin air by central bankers, rather than having to commit family wealth to the purchase. Families simply cannot compete with the bottomless funds that the Fed provides....
One hopes that the "Capitalism Uber Alles" crowd can perceive a problem there.
During the recent "pandemic," 30%++ of restaurants went under in Wisconsin alone, and tens of thousands of Wisconsin citizens were pitched into unemployment or bankruptcy if they owned one of those places. Due to the "pandemic rules" created by various Governments, certain Capitalists increased their wealth very significantly--those which owned or controlled virtual-purchases (and delivery) outfits. Many of those "capitalists" were very supportive of continuing "pandemic rules." Do you blame them?
One hopes that the "Capitalism Uber Alles" crowd can perceive a problem there.
And just in case you think that Georgia's recent corruption is a first for that State.....
...The Yazoo land fraud was named after the Yazoo River, which was west of the territory controlled by Georgia at that time. In 1795, the government of Georgia passed a law called the Yazoo Act, which sold 60% of the land in present-day Alabama and Mississippi to four land-speculating corporations. Naturally, the process was corrupt, featuring bribery to major politicians and newspaper editors alike.
Jackson resigned his Senate seat in order to come back to Georgia and fight the corrupt sale. He had a tough road ahead of him: he was setting himself against the entire political establishment of the state, which knew that what it had done was wrong, and was determined not to be held accountable for it. Jackson took a disciplined approach, using county-level grand juries and friendly newspapers to expose the corruption of the ruling political class. As a consequence, he was able to build a political movement against the corrupt sale of Georgian land. He won office first to the State Senate, where he wrote the law revoking the Yazoo fraud. Then he won the Governorship, which he used to execute the law....
One hopes that the "Capitalism Uber Alles" crowd can perceive a problem there.
Jefferson's "Yeoman farmer" was at one time 25% of the US population. That farmer has been replaced by small business owners referred to as "Main Street."
Naked Capitalism Uber Alles proponents should think very carefully about whether they wish to be owned by BlackRock or BlackStone. That IS the problem here.
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