Rage Could End Up Hurting Us

Whatever else your crystal ball tells you, it should be whispering "continue to save." This is not what economists or Wall Street want you to do. Ignore them. We're in for a long dry spell.

Recessions inevitably deliver capitalism a bad rap.

History shouts that dependence on government becomes dangerously habitual, and leads to loss of liberty. That goes for individuals, as well as for businesses.

http://pacificgatepost.blogspot.com/2009/07/government-vs-capitalism.html

America has been Gone for Quite some time...

Long Before President Obama took the oath and None of You worried about that Dumb Tough Talking Oil Baron Texan, who Destroyed the Economy and his..

"Generational Debt" to Communist-Socialist China.

China v US money market funds

Source: The Council On Foreign Relations.

China???s Purchases of US Treasuries in 2008 (Estimate): $245 billion

US money market funds purchases of US Treasuries in 2008, from the flow of funds: just under $400 billion

China???s purchases of US Agencies in 2008 (Estimate): $38 billion. That reflects $85 billion in purchases through July, and $47 billion in sales since then ???

US money market fund purchases of US Agency bonds: $542 billion

China???s purchases of Treasuries and Agencies in 2008: $283 billion
US money market funds??? purchase of Treasuries and Agencies in 2008: $942b

Hey, exploring so-call "economically dubious" projects is the very foundation for progression. How do you think we got where we are now? "Dubious dreaming" in which economics is and seemingly will always be a hindrance. That is a proverb BTW. Saying that capitalism is about risk taking and then turning around and saying that we should not take risks? What a contradiction.

Elijah (Obama) is setting the stage for the future government of the true king. Where the economic system will be based on Capitalism. Meaning that movers and shakers will have all the right to gamble, however that old noun rectitude will once again be the governing factor. And a splash of Socialism that provides a comfortable, secure environment for those whom have no desire or capacity, albeit intellect, financial predicament, or nerves to move and shake. Opportunity will be in abundance, but, not without the educational effort and mandatory labor experience requirements meaning, that everyone regardless of social disposition should learn the respect of what hard work is. This will help to remove the wedge between the laboring poor and the lazy rich, therefore narrowing not increasing the distance from top to bottom. After a period of this, equality of the species will then come to true realization. I get some close minded conservatives whom fall back on the ol' "You just can't keep givin' handouts", and I say " Giving a shovel to a laborer is providing a tool that will also improve the life of the giver". A welfare check is not a tool. A secure, equal environment, education, and a right to chase a dream is.

It is tuff criticizing the truth ,but,

Interesting that a thoughtful and intelligent column like this, by one of the few Newsweek columnists whose MO is neither pablum nor encrusted in parroted "facts" could elicit the "pitchfork" response of the previous poster. A troll, perhaps, though considering some of the other comments, ya gotta wonder.
A poster remarks: " Capitalism is like owning a Fiat. It looks great, but it's in the shop 15% of the time."
Unfortunately, and lest we forget, the wonderful socialism only comes in gray (sounds wondeful, however) and is in the shop all of the time. It is a fact that in capitalism, some people are poor. Unfortunately, in socialism, everybody is poor.

Greed is under siege. People are tired of unchecked, unfettered greed and avarice. Our country is built upon capitalism, but without checks and balances and a need to heed the will of the people, not just the wealthy, is necessary for us to survive as a democracy. We need the wealthy, but we also need for all people to really listen to their inner voices, their religions and avoid the temptation to acquire as much as possible, whether it be money, power or position.

For years we were told that government was the problem, that the private sector could solve everything. Then the Savings and Loan scandal happened, then Enron, then Worldcom. Big Business had taken over government and had thrown out business regulations and it did everything it could to deny the right of individuals to sue businesses - the two key tools to curb business abuse. That led to making the consumer powerless and prey to a host of corrupt business practices - sub-prime loans being obviously the largest one. Then they attempted to seize social security funds for themselves. Then we were falsely led into a war with Iraq by Big Oil. A war which has been run by big business with no-bid, cost plus contracts that inflated the cost of the war by 10 fold at the tax payer expense. It was the largest war-profiteering by business ever that added to our deficit by $3 trillion, not to mention the cost in lives. Now we have the current crisis where they must be bailed out for something they caused but they want bonuses and they don't want to tell us what they are doing with the bail out money, all at tax payer expense.
Meanwhile, we've lost our 401K retirement, our homes, our jobs, and we are saddled with so much debt, much of it financed from overseas making us vulnerable on the international scene both diplomatically and militarily. And you wonder why we could possible be upset. Ummmmm......

ro50n16, the simple fact of higher taxes & higher government expenditures is not like of capitalism. Thinking the two are mutually exclusive is a blatant misunderstanding or mischaracterization. I don't happen to agree that those will even occur long term (especially the spending, its a stop gap measure to pull us out of our spiral). But someone claiming that returning taxes to 1990s levels is the end of capitalism is silly as best.

Mr. Samuelson is talking about something far deeper, which we need to be concerned about, but if far different than right-wing talking heads declaring the end of society due to a couple percentage points of tax.

I don't see that capitalism is in any danger. It is, after all, the default economic condition - people have practiced capitalism since they first learned to trade. When everything else collapses, capitalism emerges from the dust. Just look at the managed economy of the USSR and how it was fixed after the collapse.

I believe any one in the world from AIG so on are replaceable that is why we need a cap on pay to keep corruption down a lot of unemplyment worker's would love take there job and even do a better job at it .If you have people who only work to get a bonus you will continue to have corruption in the market greedy people who make up stuff from enron to madoff and take the money and run.I believe in the free market and i am sure the American people do as well but if they cannot control there urge to steal from the American people you have to put a stop to it and put Regulation back in like it use to be some people call it socialism now What was it when we were growing up I call it protection from our wallet rich and poor should both live in comfort not just the weathy .I believe the congress and the market let the market fall do you no how many people were about to retire from the 401 plan remember when it started do you believe they wanted to give out all that money to all the retire's do you think the insurance giant's who profit from all the 401 left home with a empty poket all the American's who put money the system are pennyless how sad .We need to put a new law in FDIC insured 401 plan .FDIC set up just like the bank's to protect our money.You can steal from the people but steal one dollar from the goverment and go to prison. we need a law thou shalt not steal from the American people not just the govenment.

"Greater government" created "today's economic breakdown".

Read "A Plea for the Constitution of the United States - Wounded in the House of it's Guardians" by George Bancroft - 1884!

The Square Deal, The New Deal, the War on Poverty, Social Security, Medicare, Medicaid, Public Schooling, Community Reinvestment Act, 80,000 pages of Regulations........!

We've sold our souls to the Company Store (the beneficent government "safety net"). It doesn't work. Adam Smith's free market does. His 'Wealth of Nations" hasn't been tried yet. It certainly isn't being read or taught in schools.

"Greater government" created "today's economic breakdown". "The Fed, The Square Deal, The New Deal, the War on Poverty", The Community Reinvestment Act, Public Schooling, Social Security, Medicare, Medicade, 80,000 pages of Regulations!

Philip K. Howard's "The Death of Common Sense" captures the culture quite well!

We've sold our souls to the company store (government regulation).

It's the lying media and the corrupt Congress who are screwing this country up. I'm sick and tired of the dumbest people in America having so much power with their lies to the ignorant populace. Cancel your newspaper subscription. Don't watch the dumb networks, nobody watches NBC anyway. And send your incumbent politicians to jail.