Capitalism is dead and finance has become a 'poison'

[andrew_o]

What he calls 'capitalism' is actually 'financialism'.

and sure, it's toxic.

Getting back to basics: Capitalism is the economic system where individuals have the right to own their own labour and possessions. 

That's all.

Capitalism is the system where factors of production are privately owned.

That is part of the deal but it includes all forms of assets. Your house, land, car, your labour etc etc Etc

[aqua]

What he calls 'capitalism' is actually 'financialism'.

and sure, it's toxic.

Getting back to basics: Capitalism is the economic system where individuals have the right to own their own labour and possessions. 

That's all.

Capitalism is the system where factors of production are privately owned.

This cartoon explains what is happening to real estate.

[cbeatty]

What he calls 'capitalism' is actually 'financialism'.

and sure, it's toxic.

Getting back to basics: Capitalism is the economic system where individuals have the right to own their own labour and possessions. 

That's all.

Capitalism is the system where factors of production are privately owned.

This cartoon explains what is happening to real estate.

It does appear that the end game of American style capitalism is a Rentier class where a bunch of wage salves and renters pay the piper.

[andrew_o]

Just to add some facts to the conversation:



This is the long term chart or home ownership in the USA

[cbeatty]

Just to add some facts to the conversation:



This is the long term chart or home ownership in the USA

a good many of those "owners" aren't owners at all. They are renting "money" from banksters and have substantial mortgages hanging over their heads.
(also the home ownership rate has been declining since 2013)

[aqua]

Just to add some facts to the conversation:



This is the long term chart or home ownership in the USA

a good many of those "owners" aren't owners at all. They are renting "money" from banksters and have substantial mortgages hanging over their heads.
(also the home ownership rate has been declining since 2013)

Even worse.  He is oblivious to the downward trend.

[andrew_o]

a good many of those "owners" aren't owners at all. They are renting "money" from banksters and have substantial mortgages hanging over their heads.
(also the home ownership rate has been declining since 2013)

The loaning of money from banks is a constant across that time. Unless they were chopping down trees and making log cabins?

It's only been in decline since 2013 and that was only because it got ahead of itself when Clinton removed the 'red lining' on mortgages

[cbeatty]

a good many of those "owners" aren't owners at all. They are renting "money" from banksters and have substantial mortgages hanging over their heads.
(also the home ownership rate has been declining since 2013)

The loaning of money from banks is a constant across that time. Unless they were chopping down trees and making log cabins?

It's only been in decline since 2013 and that was only because it got ahead of itself when Clinton removed the 'red lining' on mortgages

are you equating banking with Capitalism?

[andrew_o]

Banking enabled a more efficient form of capitalism. So today banks are part of the capitalist system. They make transactions and asset ownership easier.

[cbeatty]

Corporations are claimed as part of Capitalism, but they are nothing more than a collective which provides limited liability, a limitless life-span, a method to concentrate wealth and buy the government, and cover for personal avarice.