Monday, January 17, 2011

From a centrist point of view: Capitalism: Neither Love Nor Hatred

A few thoughts after watching Michael Moore's "Capitalism: A Love Story":

IMO corporate short termism imposed by the financial markets & credit based consumption the main system faults.

From my centrist POV:
It's not the job of the state to subsidize private-for-profit companies
It's not the job of private companies to do a state's job eg collect taxes, provide health insurance, run prisons, police or military "services", own or operate highways, etc.

How come no side foresaw the effect of the rise of the Fed interest rate by some 400 basis points on the retail i rates after the fixed rate period?

Who drove the demand for the vast expansion for subprime mortgage based investment instruments?

Michael Moore is right about the effect of students' debt on their career choices & priorities.

IMO the whole structure and the foundations of the "financial world" need a major rethink, way beyond the recent reforms in the US and in the EU, but Capitalism per se, in its original "release" is the best system available. But it needs a fundamental rethink. And a soul.

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