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To: illiac

Of course he would say that; for the same reasons the oligarchs of the old Soviet Union supported the system that kept them in financial and political power. Buffett and his butt-boys have little to do with or desire for capitalism and are primarily concerned with payoffs and contributions to politicians who enable them to make large profits from the economic destruction of this country and true capitalism.


3 posted on 02/29/2012 11:02:33 AM PST by RJS1950 (The democrats are the "enemies foreign and domestic" cited in the federal oath)
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To: RJS1950
If that's what you believe, then Grantham agrees with you. He believes that capitalist societies will tend to degrade into crony capitalist ones. But then it's been said before and even has a name: The Iron Law of Oligarchy.

Russia wasn't ever truly communist. It was just a succession of oligarchs: the czars, the commisars, and now the "oligarchs".

We had a long run of a relatively free market, but it appears that the oligarchs are finally getting their hands around our throats as well.

The large corporations are not our friends. They owe it to their shareholders to make as much profit as possible. We have passed a threshold where it makes more sense for businesses to spend money on managing the government than on managing their businesses. Schumpeter talked about this. As businesses become very large they become almost indistinguishable from large government bureaucracies. They being to think and act like large bureaucracies. They become kindred spirits with governments.

The little guy is left to fend for himself.

5 posted on 02/29/2012 11:36:42 AM PST by who_would_fardels_bear
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