Skip to comments.The 'Third Way' Bubbles Are Bursting
Posted on 10/15/2011 4:10:07 PM PDT by jobim
When the financial crisis hit three years ago, many gleeful leftists assumed that the long-anticipated failure of the free-market system had finally come and that this crisis would do for capitalism what the fall of the Berlin Wall did for communism. In fact, it is not capitalism that is failing.
We are beginning to see this in Europe, where the debt crisis is a crisis of the welfare state. I think we are also about to see it, possibly in a more spectacular way, in another leading example of a capitalism-socialism hybrid: the so-called "state capitalism" of China.
As the global recession began, the government of China chose to weather the economic storm by followed the same rotten advice we were getting back here: the Keynesian idea of "stimulating" the economy with borrowed government money. They just took that idea more seriously.
(Excerpt) Read more at realclearmarkets.com ...
Bump for Morning Coffee. Thanks! :)
IMHO, one of the main objectives of the “Occupations” is to provide an alternative explanation for the collapse of the economies in debt-ridden “Third Way” socialist states. Don’t blame spendthrift, regulation-happy governments — blame the fat-cats. It’s also a way of energizing Obama’s base.
The Capitalists are beating the Socialists like baby seals. Socialism ALWAYS FAILS, ALWAYS. Useful idiots.
Great. A gigantic blame game with the stakes being the future of the world. Pass the tequila...
Quite right. And yes, they always collapse. But that brings no solace, because a Constitutional Republic such as ours is history’s rarest creation, and when it falls, it may never arise, whereas the zombie fascist entities always arise anew.
>>Pass the tequila...
The American Reformation begins by accepting responsibility.
Which candidate has the character and integrity to do so?
None so far evidently... so still looking.