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Have you ever noticed how the left always claims...

Discussion in 'Economics, Business, and Taxes' started by Lukey, Mar 11, 2015.

  1. Lukey

    Lukey Senator

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    That the Republican Presidents all have to own the economic conditions that occur on their watch but FDR and Obama get a pass for the economic depressions that their (anti-capitalist) policies produced?
     
  2. georgephillip

    georgephillip Governor

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    Does Obama qualify as a competent proponent of state capitalism?
    http://www.chomsky.info/interviews/1991----02.htm
     
  3. Lukey

    Lukey Senator

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    • Funny Funny x 1
  4. georgephillip

    georgephillip Governor

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    If Chomsky is correct about state capitalism in this brief interview published in 1991 Detroit, capitalism underwent a huge "murderously destructive catastrophe" between 1975-1990 that much of the world has yet to recover from.
    "There was a serious international crisis around 1980. Of the three major sectors of state capitalism -- the German-led European community, the Japan-based sector and the U.S.-based sector -- the German- and Japan-based sectors pulled out of the decline, but without regaining their previous rate of growth.

    "The United States also pulled out, but in a very distorted fashion, with huge borrowing and very extensive state intervention....

    "The rest of the world didn't pull out, especially in the Third World.

    "...That's what's called the crisis of the South, and it's a catastrophe of capitalism."

    If I understand Noam's argument, the Pentagon is our "guaranteed market" for the tech industry's latest killing toys which turns the US into a welfare state for the rich, pouring public resources into high-tech industry and distributing resources away from the poorest citizens of this country.

    http://www.chomsky.info/interviews/1991----02.htm
     

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