Is Capitalism on it's way out?

[msc545]

American workers are allergic to socialism because they view themselves as “temporarily embarrassed millionaires,” who throw their lot in with their bosses because they want to join their ranks.

In reality, America has virtually no upward social mobility; an American who changes class is generally a middle class person who becomes poor, or a poor person who becomes homeless.

[RealMarek]

I think a lot of people remember the excesses of welfare queens back in the 70s and early 80s. A lot of people also refuse to reckon with the stagnant real median income vs. real cost of staples, housing, medical care, transportation, and education (i. e., the things people need, not the low inflation of discretionary products that dominate the heavily gamed CPI-U), the glut of workers due to immigration, and for certain demographics the extreme difficulty with school admission and career growth due to DEI quotas imposed by ESG.

[RealMarek]

Not that socialism works. It doesn’t. But oligarchy and globalist neoliberalism sucks too, but convinces most people that it is the only alternative to socialism.

[msc545]

Democratic Socialism seems to be working in several Nordic countries as well as Cuba, Vietnam, China, and Laos.

[RealMarek]

I wouldn’t call these places democratic, although that doesn’t mean the governments don’t have support from their people. In the case of China it’s actually easier to start up a private business there than here. I’ve met many young American men who learned the language and did that. In any case, that isn’t socialist even though the Chinese government exercises influence and intervention to meet its objectives and prevent a concentration of power in the merchant or capitalist class. Basically, it is private ownership and government control, which is more akin to the economic model of fascist states during the 1930s than to socialism (note, this does not make it fascist, as there is a lot more to fascism than an economic model).

[Drewtate]

Yes. It's slowly being replaced by Oligarchy.

Capitalism built the middle classes and provided a very decent living for working class people but now the Oligarchs are sqeezing them out.

[exitseven]

I became upper middle class and i started out as poor. I think that maybe it is not as easy as it used to be, I think that people whine too much and pay too much attention to social media. All you see are millionaires and how they live. People think that they are poor if they cannot afford a Ferrari. My wife and I did not have more than a thousand dollars between us when we got married. When we passed papers on the purchase of our first house we went to lunch afterwards on the 20 bucks we had left in the bank. We had to work hard but we were able t oraise a family, send them to college and still end up with a couple of pieces of pretty expensive property. The US has the best standard of living anywhere in the world. It is true we have taken a big step backwards over the last 3 years. Partly because of covid but the lions share of the blame should be delivered right on the front lawn of the White house.

[JustMeQ2]

Yes. It has reached it's peak.
Now it can only go downwards, and take civilization with it if we don't transition to something else.


Will be back to feudalism if we don't evolve our systems.

[Anonymous]

Ask the Venezuelans who are coming here.
Ask the Cubans that are coming here.

[Anonymous]

One place I read that Capitalist economy must survive, or the economy would collapse.