Capitalism: Why capitalism is doomed

Vitaliy_Kiselev

Share of $1 billion or larger companies in total US profits and assets.

Such companies are more than 91% in manufacturing, around 92% in retail (in online it is even worse), and more than 96% in IT (including software).

Number of banks (number will cross 1000 mark very soon):

Small business had been shrinking long before Corona

Since early 2020, small (<250 workers) companies lost from 25% to 90% of employed people (depending on state and sector).

Most of this firms will never be back to normal and good.

Vitaliy_Kiselev

A third of small businesses in New Jersey have closed down in 2020, according to a report from The Star-Ledger newspaper.

“It’s really bad… And without federal dollars coming into New Jersey, the Main Street stores and other establishments are not gonna make it through the winter.” said Eileen Kean, the state director of the National Federation of Independent Business.

Almost all of small business owners do not like government and seek for "proper old capitalism", yet as the issues come, they run to government with demands, and if it says "no, sorry" they are very upset and again blame wrong capitalism.

Vitaliy_Kiselev

Whole Foods founder and CEO John Mackey:

"We have to recognize that some of the progressive insights are important and they shouldn't go away, but we can't throw out capitalism and replace it with socialism, that will be a disaster," he said. "Socialism has been tried 42 times in the last 100 years, and 42 failures, it doesn't work, it's the wrong way. We have to keep capitalism, I would argue, we need conscious capitalism."

This guy needs noose around his neck, good quality one so it won't snap, in other words - socialist made noose.

Vitaliy_Kiselev

Prime storefronts left empty by failed businesses. Cheaper or even flexible rents. Landlords willing to add drive-thru lanes.

As the coronavirus permanently shutters some small businesses, big fast-food brands like Domino’s Pizza, Chipotle and Wendy’s that were doing well before the crisis want to grow - or continue pre-existing expansion plans - after the pandemic subsides.

Who could have though.

stoney

Socialism and capitalism coexist like two sides of a same coin.

Vitaliy_Kiselev

@stonebat

Socialism and capitalism coexist like two sides of a same coin.

You mean it is some mess in your head for now and this require some ordering? :-) I agree with it.

stoney

They are like siamese. One’s demise would lead to the other’s demise. And I guess something more ugly would rear its head out of their ash.

Vitaliy_Kiselev

@stonebat

You keep playing with words without attaching meanings. Are you ok?

Vitaliy_Kiselev

Symbol of modern capitalism

stoney

That's a symbol for socialism and communism as well :)

Vitaliy_Kiselev

@stonebat

Sometimes if you don't have anything to post you must just not post instead of this last urge of pointless comments.

Vitaliy_Kiselev

By the end of this year, more than 50 million people could experience food insecurity, according to Feeding America, the country’s largest hunger-relief organization. That’s one in six Americans and one in four children—nearly a 50 percent increase from 2019. A Northwestern University study in June found that food needs had doubled nationally, and tripled for households with children. The pandemic has laid bare how many people are one paycheck or medical bill away from hunger.

Prosperity.

stoney

@vitaliy You know "one man's trash is another man's treasure."

Capitalism, socialism, communism all are just full of human greed. Nothing is perfect. But clearly there are differences among them, and I usually pay attention to such things because of better objective interpretation. But when I see something that applies to all of them, I gotta say "hey that applies to all, not just capitalism."

stoney

At least in US, the food insecurity data is known. In Mordor (R mentioning prohibited on PV, VK), no such data whatsoever. Again I wanna compare multiple things just to see obvious differences. And deeper discussion about their differences is more meaningful.

Vitaliy_Kiselev

@stonebat

Juggling words do not add anything useful.

Vitaliy_Kiselev

The massive famine that gripped the eastern territories of the Indonesian island of Bali began to intensify due to the coronavirus pandemic

Due to the sharp decline in tourist flow to the region due to restrictive measures against the background of COVID-19, and impoverishment, the problem of malnutrition has now also spread to certain urban areas.

In particular, a particularly sharp increase in the number of hungry people was recorded in Karangasem district, where local residents lived on the funds of relatives who worked in the service sector in other parts of the island.

But capitalism is nice, just kill millions right now. Yes, and defending it is not major crime, yet.

Vitaliy_Kiselev

Vitaliy_Kiselev

Only 14.9% of global bonds have a yield above 2% and only 9.9% above 3%

Vitaliy_Kiselev

Puerto Rican Governor Wanda Vazquez Garced has signed an executive order to restore the giant telescope. In particular, the government of the country talks about the possibility of reconstruction of the telescope with a simultaneous improvement: the effective aperture will be increased, and the field of view will be expanded.

But only $ 8 million is allocated for this in Puerto Rico, which is clearly not enough. This money will go primarily to dismantle the current structures, clean up the area and restore the environment. According to unofficial data, the entire project will require several hundred million dollars.

In the document signed by Garced private investments are indicated as mains sources of financing.

Ruling class felt that it is too soon and too dangerous to show anti scientific and reactionary nature. Now want to hide their unwilling to restore under the dismantling work.

Vitaliy_Kiselev

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