There is no such thing as capitalism in the US anymore.
The entire US market is manipulated by the Fed and the major banks who get money at almost 0% from the Fed. When people criticize capitalism for the crisis we are in today, I would like to ask them in what textbook they read that bailouts would be considered capitalistic? What about subsidies? Tax payer funded deposit insurance agencies? The answer is that they aren't and the reason why we are in this situation is because of gross government incompetence and corruption. Bring on the downvotes.
EDIT: I'd also like to point out that this LIBOR scandal that recently broke has pretty much shown that the entire financial system is built on fraud and a few buddies who call each other can make billions by manipulating numbers on computers. This has nothing to do with capitalism. This is complete fraud and these people should go to jail and stay there for life, but they won't because the government is just as in on it as they are. Until people realize that "capitalism" isn't the problem and its actually governments enabling and even encouraging destructive behavior, we will NEVER get out of the hole we are in. Printing paper money does nothing for the economy except make some people richer at the expense of others.
/rant
Posted Jul 9, 2012, 9:03 PM UTC · edited