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Thread: Is U.S. Capitalism On The Brink Of Collapse?

  1. #171
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    In the late 1920's rich individuals like FDR staved off revolution by instituting social programs. That could happen again. At times even Trump has supported single payer. Capitalism will not collapse in the near term and is not on the brink. In the long run our destruction of the environment may do it in though.

  2. #172
    Senior Member Williamsmith's Avatar
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    I guess it could depend on how you define “brink” or “near term”. At least for some. Some feel capitalism is sacrosanct or immune. I view it as endangered or exposed. I see a possibility of a political revolution much like occurred when Reagan was elected by baby boomers. I see millennials coming into their own and becoming a political force to reckon with. And the Republican Party it seems to me is basically embracing the older generation that put them in control of government and are turning their backs on millennials or at least ignoring them.

    Millenials will turn to the Democratic Party for a source of empowerment. That means capitalism could take quite a hit when a coalition of millenials and perhaps baby boomers who have become disenchanted with Trumps administration and are looking nostalgically at the 60s and thinking maybe it’s time our theory can be put in action. I think the Republican Party might fade soon. If not 2018 , perhaps 2020. Someone in he mold of Bernie Sanders could appeal to enough millenials and retired baby boomers to put a socialist mindset into office.

    And I should add, millenials that I know are turning away from consumption, they aren’t buying houses or furniture or any of the stuff capitalists would like to see hem buying at the rate needed to keep the economy producing profit. Millenials are shunning houses, kids, fancy shiny things. They are adopting minimalist attitudes, living within their means and staying away from borrowing and they are looking at this as a social lifestyle which can be an answer to our debt. I think American capitalism sees this and has moved offshore to other emerging economies looking for consumers who can borrow and will spend like crazy.

  3. #173
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    WS, you are so right about the millennials. None of my 3 kids intend to ever buy a house. They want to be mobile for jobs when needed. None have children. They don’t collect anything and spend their money on travel. My 2 stepsons have modest homes and in other regards are like my kids. Almost everyone in our social circle would vote for a Bernie like candidate. They all have kids or grandkids and are worried about their futures. It doesn’t matter anymore if you are highly educated or not. People are struggling at all levels. Many law colleges only have a 50% employment rate after graduation. Professors are worse. By 50 many white collar people are laid off and never get a professional job again. Teachers in many states are so low paid that they are driving Uber at nights and weekends. People in the trades can do well providing they don’t get hurt on the job. The book “Squeezed” is a eye opener on what is happening. Of course spending my life in human services I have been aware all along what is happening to people. It’s easy to blame the poor when you don’t know them. Much harder when it is your 55 yo professional neighbor.

  4. #174
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    Quote Originally Posted by Teacher Terry View Post
    WS, you are so right about the millennials. None of my 3 kids intend to ever buy a house. They want to be mobile for jobs when needed. None have children. They don’t collect anything and spend their money on travel. My 2 stepsons have modest homes and in other regards are like my kids. Almost everyone in our social circle would vote for a Bernie like candidate. They all have kids or grandkids and are worried about their futures. It doesn’t matter anymore if you are highly educated or not. People are struggling at all levels. Many law colleges only have a 50% employment rate after graduation. Professors are worse. By 50 many white collar people are laid off and never get a professional job again. Teachers in many states are so low paid that they are driving Uber at nights and weekends. People in the trades can do well providing they don’t get hurt on the job. The book “Squeezed” is a eye opener on what is happening. Of course spending my life in human services I have been aware all along what is happening to people. It’s easy to blame the poor when you don’t know them. Much harder when it is your 55 yo professional neighbor.
    Anecdotally, I just had dinner on the weekend at a bar in Ohio and was waited on by a girl who is a school teacher! She moonlights on the weekend because her teachers salary isn’t enough for her family. Huh.

  5. #175
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    Very common. Although Minneapolis pays their teachers well which is rare. Some expensive cities have to provide housing because teachers can’t afford to rent in their location.

  6. #176
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    Quote Originally Posted by jp1 View Post
    The French Revolution comes pretty close. At the very least the poor can get mighty assertive if they get oppressed enough.
    They managed to replace a king with an emperor.

  7. #177
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    Quote Originally Posted by LDAHL View Post
    They managed to replace a king with an emperor.
    I suppose that makes more sense than replacing a King with a blowhard.

  8. #178
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    Quote Originally Posted by Williamsmith View Post
    I suppose that makes more sense than replacing a King with a blowhard.
    Oh I don’t know. Calling Napoleon names probably required more in the way of courage than insulting our president does today.

  9. #179
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    I think millenials will have something to say about the next Presidential Election. I know their history has been that they are very vocal about issues but then fail to show up at the voting booth. I think the leaders of the Democratic and Republican Party are smart enough to have looked at the demographics and determined that if millenials ever start to vote on a consistent basis, they will turn this country into something that looks more like the European Union than their parents America.

    Which is why the Democratic Party fixed the primary for Hillary Clinton. I know the common theme is that they fixed it because Hillary said it was “her turn” and that it was time a “woman” was President. Bull crap. The leaders of the Democratic Party could not afford to allow millenials to light fire over Bernie Sanders. It would have structurally changed the US in a dramatic way. He was the real outsider. With Bernie in office, Democrats would have been forced to rewrite the entire playbook and that wasn’t going to happen on their watch this time around. They chose to roll the dice with Hillary in order to keep the millenials in apathy.

    If millenials begin to vote, their liberal ideas brought about by the failings of prior administrations will be front and center. Free college, universal health care, campaign finance reform, lobbying reform, corporate taxing and just go down the list of Bernie’s favorite themes.

    The only defense the two current parties have against the millenial wave is to keep them skeptical of the system itself. Which requires undermining it, casting doubt on the veracity of the voting process and keeping candidates that reflect their socialist leanings.....off the ballots. The war on progressives is in progress now.

  10. #180
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    Change is constant. The “millennial generation” (why do generations need brand names?) will outnumber the “baby boomers” after another three million funerals. Does it necessarily follow from that that millennials will change the world?

    Why do we expect them to vote in a block, assuming they can be induced to vote in large numbers at all? Why don’t we expect them to get “mugged by reality” and leave aside childish things as they mature? If they are so famously skeptical and mistrustful, why are we so sure that they will succumb to the blandishments of a new wave of “democratic socialists”?

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