The End of Capitalism

[rasg]

This may be a little late, for the topic had been debated for more than a month now, but after listening to the thoughts of politicians and analysts, I'm curious of what the people of the world actually think ..., and perhaps the members of AA can represent them.

So, with the current global economic crisis, are we seeing the end of capitalistic economy system?--and along with it, the capitalism itself?
I remember watching George W. Bush tried to defend the capitalism by saying that it had allowed small country like Singapore to become a global market player; what he failed to mentioned, however, was that the same capitalism had allowed country like Iceland to go bankrupt, other European countries to fall into recession, and even more countries in the whole world to feel the effect of the crisis that was originally started in US.

Will the economy rise again? Yes, I'm sure of it, but to avoid the same crisis from happening again in the future, more and more voices suggested that governments should take more control of the market in their countries, which by itself would bring them away from capitalism.

So, once again, are we seeing the end of capitalism?

[MUNA-SAMA]

i hope so coz capitalism stands on the poor people bodies.
do u know that to over come this economical crises they had to cut the amount of profits too much and that's what made the situation getting better.
another information;in Islamic economy profits are forbidden and in this crises the islamic banks wasn't affected at all but the media didn't say that.

[skullreken]

@Muna I was aware of that in Irish schools we learn about all faiths so we can promote tollerance friendship and understanding between all of our citizens no matter what they beileve, unfortunatly The news is only interested in painting things in a bad light it's human nature to only be interested in things they can complain about. I check out Al Jazeera to get the other side of the story in the middle east over all I find it to be a very ballanced media sorce.

I'm sorry to say this but I dont think that the end of capitalism has come far from it the capitolists caused this problem and they are the ones coming out the better of it with their finances insured so they alread have a head start i the rebuild and they will be on top ready to exploit and cause another ecconomic disaster and why? Because people are brain washed by this so called American dream (not directed at the american people just people in general) for want of a better term to describe this phenominon.

The poor know they are being screwed they know they get over taxed while the rich get over taxed and they do nothing about it because they dream of one day being rich and wont give up on that hope of achieving it despite the fact that they wont wiithout excepptional circumstance. This drives an apathetic attitude the poverty gap people wont dammage the status quo because they think one say that could be me in the rich camp they have it so good I dont want to ruin that for myself

[Deekle]

Capitalism is based off of the Invisible hand method. Your own greed helps other people by supply jobs. The Global Economy is failing right now because of the real estate market failed(Banks allowed TOO many bad loans and went bankrupt) Which leads to high unemployment rates.

I forget the man who said it but he said" All forms of Government are bad, but Capitalism is the best we got so far." Something like that.

@Muma, the middle east is loaded in Oil so I don't image their Economy going bad until recently since barrels of oil shot down under 50$

[MUNA-SAMA]

it's good to hear that someone is looking at the other side of the story.
if we look at the origin of the problem we see that all the money owned by the banks were frozen coz ppl couldn't pay their debts to the banks and the profits kept on raising untill they had to give their houses they bought or the small companies they made for those banks so now they dont have running money between their hands.

and as being loaded with oil, the three major oil countries are KSA, Kwait and UAE and they lost billions in the last crises coz there economy is based on capitalisim like the others and Kwait froze all the buisness in the stock market coz they couldnt handle the crises until now.
as 4 the other arabic countries they dont have money to lose.
and by the way dont think that this oil belongs to them it has been drained by USA and israel .

i'm not saying capitalism will end but it will be the start of the end for the biggest forces in the world for now "America" and who will get the previllage? Russia and china and those middle east countries.

in the past they used to say communism is the best but it failed within 10 years and now they say the same about capitalism and i'm sure one day it will fail badly.
some states in America now applies economic system without profits.

[Deekle]

Capitalism is not the cause... The banks and people are the cause. Capitalism promotes FREE enterprise. The problem was that banks screening processes for loans was so crappy that anyone could get a million dollar loan to buy a house.Obama wants to regulate that now, which has its ups and downs. But that won't happen again. Blame banks.

Also I don't see the U.S. ending anytime soon. They are the only country to hold a Military while being in such a bad economic position. There are no signs of revolt since no one is suffering in the U.S. Russia is getting it's imperialistic attitude back and the European nations just may go to war with them again. China, their economy is booming right now but what happens when the people want more rights? Tiananmen square happens with more people?

[skullreken]

To be honest I would back America any day over Russia the only probem I had with
America was the Bush administration aside from that no problem what so ever
I think if kept in check capitolism can be a useful tool but as of late capitolists have
held too much political influence In Ireland thoes who were involved in realestate
kept artificially driving the prices of houses up economists kept warning that what
they were doing was unsustainable hell even I could see that and I only studied
economics for a year in high school!

The prices kept rising forcing people to take 100% loans eventually the prices got so
high that people couldt afford to buy houses any more. They stopped buying so
building projects ceased and builders lost their jobs the house priecs dropped so people
are left paying off loans worth more than the value of their homes now to top it off
with economic hardship people cant pay these loans and are loosing their homes and
due to the lack of revinue the banks are sufferig promoting uncertainty in the econmoy
well at least some confidence has been re introduced to the banks thanks to an
intervention scheme our govvernment has thought up which the British adn another
country or two have coppied

[Deekle]

Speaking of skull. What kind of system of Government does Ireland have? Also do you have vocational high schools like all of Europe do(I wrote my local congressman and ask him to propose such)

[skullreken]

we are a parliamentary representitive democratic republic
we have a president elected every 7 years who can serve no more than 2 terms
the president is mainly a figurehead carying out constitutional duties and holds
special reserve powers. The main leadership role is caried out by the taoiseach
(pronounced Tee-shock) who is the equvilant of the British prime minister.

Normally the taoiseach is the leader of the political party which gains the most
seats in the parlaiment during the national ellections his/ her nomination is aproved
and sanctioned by the president a majority is need to form a Government and it is
not uncommon for 2 or more parties to form a ruling coalition were a compromise on
political aims is reached in order to for them to rule effectively

The taoiseach forms a cabinet which consists of ministers apointed to run the varous
depatments of the state there are two houses of parlaiment the Dail and the Seanad
the dail is the main house were the government meets with the oposition to debate
and make new legislation the Seanad is the Senate it works in an advisory capacity
and ratifies new legislation. It doesnt hold any real power only being able to delay bills
in order to have amendements added to them.

As for your second question we used to have vocational schools but but during the 80's
all the second level schools were amalgamated so now our corriculum provides wood work,
metal work technical drawing, and engineering as options for the three choice subjects
we have to taake with the compulsory subjects of English, Irish, Math, and German or French

[Deekle]

Interesting, I always liked European Governments.

Also I opened a bank account today(But can't get paypal set up.) I had a long talk with a experienced banker explaining the United State's economic state. He told me that they had a ration of 7.5 dollars to 1 dollar(in dept) Key bank did not actually need the bailout but the Government gave them about 3 billion dollars to pay off some dept. He also stated to me that the Economy is not as bad as the media portrays it, on the contrare, it is the best time to buy in the stock market.