Comments on: Updated: A Political Takeover Of The Entire Financial Sector? (CHINA)

By: Myron Pauli

Myron Pauli — Mon, 19 Apr 2010 18:49:01 +0000

Little did Benito know it but he turned out to be the true harbinger of modern statist economics – not FREE capitalism and not STATE-RUN totalitarianism but a state-manipulated crony capitalism – e.g. fascism, the New Deal, Deng’s “socialist market economy” – same packages but different labels.

Freedom does not serve the authoritarians who wish to control things; however, totalitarianism results in impoverishment and inflexibility (see USSR, Cuba, North Korea) – so the US, China, Europe all merge into a mixed state-managed nominally market-based melange.

I might be skeptical of the “70% is in the private sector” since that could be counting Chinese equivalents of Fannie Mae, Blackwater, Lockheed Martin, Blue Cross, as “private” firms. But their limited freedoms have been a godsend for their people – while America’s growing statism has created deficits and stagnation.

By: Robert Glisson

Robert Glisson — Mon, 19 Apr 2010 16:06:43 +0000

“Can someone tell me how America’s economic system is much different than China or Russia or Sweden?” Simple Myron- their systems work. Not necessarily great but practical, like for example, military budget for China-Russia 67 Billion, US 700 Billion. We don’t even want to compare Social Services do we?

By: james huggins

james huggins — Mon, 19 Apr 2010 12:20:27 +0000

I don’t know about Russia or Sweden but China’s economic system seems to be working. Of course I don’t want us to try the same system, even though it seems like we are trying our best to become “junior economiic commies” Of course we lack two things: 1)we don’t have the complete ruthlessness of a true communist society and: ( We lack an international mega-customer to buy billions of dollars of our products each year. The Chinese have gotten rich off American dollars while the stupid Americans continue to spend their lives away on vote-getting social programs.

By: Myron Pauli

Myron Pauli — Mon, 19 Apr 2010 02:59:45 +0000

For a guy with only 2 years in the Senate and just 53% of the popular vote, Obama seems to be able to an awful lot of damage. Of course, some credit has to go to his advance man, Dubya, and HIS Goldman-Sachs Bailout Buddies as well. Sadly, we have a 2-sided one-party (statist) system which wins 99% of the vote that oscillates between secular and religious overtones while the Welfare-Warfare Leviathan grows and grows and grows.

Can someone tell me how America’s economic system is much different than China or Russia or Sweden??? It seems America of 2010 has more in common with them than with America of 1890.

By: George Pal

George Pal — Sun, 18 Apr 2010 16:08:12 +0000

I’m not sure our representatives would find this…

“this will give unfair market advantages to big, politically connected corporations over smaller, politically unfavored competitors”

… anything but “a consummation devoutly to be wished”.