From: video61atarisales@gmail.com   
      
   going back hundreds of years capitalism has collapsed on average every 7.5   
   years, requiring a social bailout, CAPITALISM SIMPLY CANNOT WORK WITHOUT   
   SOCIALISTS OVER SITE, WE TRIED IT BEFORE, ITS FAILED EVERY SINGLE TIME, IT   
   SIMPLY CANNOT WORK   
      
   "Hyman Minsky contended that financial instability and crises emerge out of   
   the logic of capitalist market activity itself.   
      
   This is why, in Minsky’s view, economic upswings without regulations   
   inevitably encourage speculative excesses, which cause financial bubbles. In   
   an unregulated environment, Minsky explained, the only way to eliminate   
   bubbles is to let them burst.    
   Financial markets then fall into a crisis, resulting in a recession or   
   depression.   
      
   "Minsky saw this system of regulations and bailout operations as largely   
   successful. From the end of World War II to the mid-1970s, markets in the   
   United States and abroad were much more stable than in any previous historical   
   period. But even during the    
   New Deal years and the initial post-World War II period, financial market   
   titans around the world fought vehemently to eliminate, or at least defang,   
   the regulations. By the 1970s almost all politicians—Democrats and   
   Republicans alike—had become    
   compliant. The regulations were initially weakened, then abolished altogether   
   in 1999 under President Bill Clinton and the guidance of his top economic   
   advisors—Alan Greenspan, Robert Rubin, and Lawrence Summers."   
      
   "As bailouts have prevented full-scale market crashes—and thereby allowed   
   market speculators to escape the full consequences of their exce   
   ses—financial institutions and market trading have, accordingly, grown   
   exponentially under neoliberalism. For    
   example, as of 1980, stock market trading in U.S. markets was double what   
   corporations spent on productive investments, such as machines, buildings,   
   land, and R&D. As of 2019 U.S. stock market trading had ballooned to 30 times   
   the amount spent on    
   productive investments. In other words, the ratio of stock market trading to   
   productive investments has increased fifteen-fold in the neoliberal era."   
      
   "The problem with practice what you preach capitalism is that it has been   
   tried, and the results are well-documented. It was under this approach that   
   financial markets collapsed regularly throughout most of the history of   
   capitalism. Charles Kindleberger    
   described this pattern in his classic 1978 work Manias, Panics, and Crashes,   
   in which he framed his historical analysis within Minsky’s Wall Street   
   Paradigm. Kindleberger’s discussion begins with the notorious South Sea   
   Bubble in 1720, during which    
   the South Sea Company, a failing British slave-trading firm, managed to   
   massively, if briefly, profit from obtaining inside information on how the   
   British government was managing its debt. Kindleberger reveals that between   
   this 1720 South Sea bubble    
   fiasco and the 1929 Wall Street crash, financial crises occurred in the United   
   States and Europe an average of approximately every 7.5 years (a pattern   
   recognized 100 years earlier by Karl Marx). The press reports of the crises   
   that spanned the roughly    
   200 years include: “One of the fiercest financial storms of the century,”   
   in Britain in 1772; in Germany in 1857, “So complete and classic a panic has   
   never been seen before”; and in 1929 in the United States, “The greatest   
   cycle of speculative    
   boom and collapse in modern times—since, in fact, the South Sea Bubble.”   
      
   "Through allowing firms to fail, we would return to a self-regulating variant   
   of capitalism. The problem is we have tried this, and financial markets   
   collapsed regularly.   
      
   At our present historical juncture, it would require a huge leap of faith to   
   assume that the self-regulating properties of free markets could deliver a   
   stable version of capitalism on their own. They have never succeeded in doing   
   so in the past. Moreover,   
    the extent to which contemporary capitalism has become financialized would   
   make any such experiment in market self-regulation far riskier than it ever   
   was in the 200 years that Kindleberger describes."...   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)