Vulture Capitalism or Populist Demagoguery?

Part of the problem of the debate over government and capitalism is based on a misunderstanding of "free enterprise." Let's be clear on the fact there never has been true free enterprise in America and business and government have always been partners.

The American Revolution came about in part because American merchants and shippers were shut out of lucrative markets by Britain's trading monopoly. Also westward expansion was blocked because of Britain's desire to avoid trouble with the western Native-American tribes. The Revolution was as much about trade as civil liberties.

From the outset the country worked with the nascent capitalist class to expand trade, open the West, build roads and generally foster a friendly business environment sometimes to the detriment of the working class but not to the degree what would come later as the population grew and opportunities lessened.

Government's role in helping create the American capitalist system reached a high point with the building of the transcontinental railroad which became a case study in entrepreneurship, greed, corruption and ideals. The progressive movement of the late 19th century and populism came about to address the very real evils created by excesses of the industrial revolution and was an American response to the growing socialist and communist movements in Europe.

The progressive movement probably peaked in the 1950s which saw a working fusion of capitalism and liberal social policies that resulted in a strong growing middle class thanks to unions, government policies and a vibrant postwar economy. Overlooking the obvious social ills of discrimination, racism and sexism 1950s America in economic terms was probably the best era in American history thanks largely not to government indifference but government activism in creating opportunities through education, public works and support of unions and worker protections.

Now we come to today. What is different? One big problem is opportunities have decreased for the average workers while at the same time an enormous income gap has become obvious. Workers see school costs going up, tuition costs rising, the infrastructure falling apart, fees rising and the middle class being asked to take on more and more while the elite seem to be getting all the benefits. It's not class envy or class warfare but just the American sense of fair play being violated. It's a visceral reaction that sometimes has little to do with economic reality or facts but instead relies on perception but perception is reality to many. Bottom line if these perceptions and grievances aren't dealt with we may be in for a social upheaval comparable to the 1960s peace movement, the 1900s populist movement and a resurgence of the fascist/communist/socialist movements of the 1930s The sad thing about history is it keeps repeating itself.

Call it what you want. It is often predation, but not always. Sometimes venture capitalists work as business EMTs. Occassionally. However, Wall Street is a bit like Casino Capitalism, where they play with everyone else's money. That's a formula for rack and ruin in the long run.

Welcome to the crazy world of Super PACS (Political Action Committees). A super PAC is the direct result of the Supremes Courts ruling on Citizens United. This ruling grants personhood to corporations and big moneyed interests and equates free speech for the corporation to money. Therefore it allows people like Vega casino billionaire Sheldon Adelson to give 5 million dollars, not to Newt Gingrich, but to some ad agency to create attack ads against Mitt Romney.

This is done without the approval of the person they are supporting, because that money is considered free speech. The reason they do this is because they want that candidate to be beholden to their interests In this case it has to do with deregulation of the gaming industry. You can recognize a Super PAC ad because it does not have to say "That I'm (insert politicians name) and I approve this ad."

This ruling by the Supreme Court is a travesty to our democracy. And what you are seeing now is just the tip of the iceberg. Wait until the Republicans nominate their candidate and he runs against Obama. Citizens United is unconstitutional and must be overturned. It gives the right to corporations and people with megabucks to attack anybody they want without out disclosure of amount of money and sources. This means that a foriegn multi-national corporation can control our politics for thier interests.

Yep with 50% of the population considered poor; I'd say there is a real problem.

Only when average Americans, not businessmen, not politicians, take back our country can we really see change. Middle class America has the right to prosper and grow for the hard work we do. We have the right to take back what is ours. Buy American made products, if your congressmen suck at their job fire them. It can be done. I wonder what they would do if middle class America stopped paying their fed and state taxes, do you think they would listen then?

When anyone wants to do something that improves the lives of the lower and lower middle classes, they are called liberals, as if it was a curse word. When someone wants to do something to benefit the upper middle and upper classes it's called conservativism, as if it was a blessing. The people with money help others with money and assert that the benefit accrues to those without. That assertion is often without merit on such simplistic terms. Even David Stockman-- the Godfather of Reaganomics and trickle down-- repudiated the notion. It is becoming apparent that the economy is moving on without increased employment. That's a situation which cannot be lain at the feet of any administration. Essentially it's the evolution of production efficiencies and a new level of stable economic activity. The real problem is how we deal with a higher number of chronically unemployed. This group will be a political disaster for either part and both radical ends of the political spectrum. This higher number will likely be very long term, if not permanent. Giving money to the wealthy won't make it go away-- they are not creating the jobs these people might once have expected. Government support-- welfare, workfare, whatever-- is costly and drains from the lower end of the employed population. (You can't expect the wealthy to give upany of their perks to buy food and medical care for the chronically unemployed, because they don't and won't.) So, whatcha gonna do? I think we're finding that more TV sitcoms, Nascar, Football, and beer isn't going to work. You can give the multitudes all the entertainment they want, but when they get tired of being amused and cozzened, they'll either tear Rome apart, or let it fall.

I love the quote above that "economic Darwinism, is neither conservatism nor Americanism." I wish more republicans, especially congress, recognized this. For them to fight against consumer protectionism, middle class tax cuts and EPA while big business rapes us and our environment is an issue left and right should be able to agree on.

Without jumping to ideology, ask yourself: what kind of society do you want to live in? The middle class is shrinking. The gap between rich and poor grows. We have career politicians. The process for selecting candidates does not give all voters a chance to participate, and money often determines the outcome. Is this the kind of society you want?

Newt, why do minorities have be janitors? Will you encourage or allow your grandchildren to be janitors?

Just as Rome fell, America will too. The similarities between the two are almost uncanny.

A publicly held corporation has no conscious, no soul, no morals and is not patriotic. It only has one goal in mind, make money and report profit to Wall Street. Mitt as CEO of Bain had to do what was necessary to stay employed, no matter the cost to someone else, knowing that he would just be replaced by someone who would, if he failed to do so.

Now Mitt may have not have been directly responsible for all the jobs shipped overseas in the last 3 decades, but he sure participated in it.

Does that excuse him? Nope. And good luck explaining that to voters when the unemployment rate is over 8%.

No way a millionaire feels what America is experiencing or can do anything about it. I'll keep my hope and change. YOU can wish for a millionaire to share.

I don't always agree with Pat Buchanan, but he is always interesting to read. I agree that decent Americans, and that's most of us, expect the wealthy and all to conduct their business with a conscience. The Republicans are not going to beat the president with "vulture capitalism" and tax cuts for the rich.

The rich and mega-corporations as "job creators" is a narrative on its deathbed. We can bury its corpse next to the "trickle down" and "supply side" canards.
A robust and thriving middle class is essential both to an economic recovery and to a healthy economy. It's the working class and small businesses that are job creators.

"Let-the-devil-take-the-hindmost capitalism, economic Darwinism, is neither conservatism nor Americanism."

Now review the GOP's evolving agenda over the past 3 decades, Pat - focus on the changing actions, while ignoring the identical rhetoric. Afterward, I dare you to call the GOP of today conservative, or american.

What nobody seems to understand is that the holders of great wealth are, morally, no better and no worse than anyone else. Take a typical laborer or middle manager, put him in the position of a J. P. Morgan or a George Soros, and before long he will begin behaving the same way. Maybe not always. But mostly. As Abraham Lincoln said to his Union countrymen about the defeated Confederates, ". . . they are what we would be under the same circumstances."Or, as my grandfather used to say, "people are just no #$%$ good."

'It is difficult to get a man to understand something when his salary depends on his not understanding it."

By Upton Sinclair's lights, Pat Buchanan is paid handsomely.

Suicide by greed.

To Windriver - stop your lunacy.

The ideal political environment for the modern day venture capitalists is anarchy. Then we can see Darwin's theory play in real time, as we attempt to survive in the dog eat dog world that emerges!

Instead of Republican Darwinian "Vulture" capitalism, what's wrong with the Democrats' capitalism with a conscious? How about we tax the wealthy at a higher rate? It worked in the last century to to assure all productive Americans shared in the bounty, rather than like the present day when the wealthy eat like pigs at a trough while the rest of us have hard times?