Ball o’ spiders » « When I used to debate creationists This. Is. Capitalism. A good summary in cartoon form: Tom the Dancing Bug We’ll never get reform as long as the capitalists get to buy their way into positions of political power. Share this:PrintEmailShare on TumblrTweet Ball o’ spiders » « When I used to debate creationists
After 23 years in this country, it is still mind-boggling to me that someone can (LEGALLY) buy a company and saddle that company with the debt they used to buy that company. That’s stealing and it should be as illegal as perpetual motion machine!
Of course, this would only work if Mr. Pencil had already incorporated, and sold off at least 51% of the company’s shares. As a sole proprietor, he’d have to actually give his permission for someone to buy in. Apart from that… yeah, this is private equity.
Private equity like that is not permitted within EU.
Which may be one of the reasons the tories hate it.
Toys’R Us and a lot of other businesses have been looted and bankrupted by private equity firms. They do not invest in the future they just drain the company like a vampire.
They are statistically not better than other companies. They are only good at sending the loot upwards to the bosses.
@1, perpetual motion machines are perfectly legal. If one could find one that actually worked. ;)
@PZ, if you don’t like the democracy that we have, you’re perfectly welcome to go out and buy your own.
I’ll just get my hat…
The headline today is relevant.
The output of our society is pre-allocated by our tax laws, corporate rules and regulations, and other government programs to siphon money and resources upward to the ultra-rich oligarchies.
This is because they were written by our governments, largely controlled by…the ultra-rich oligarchies.
To take one obvious example, tuition at public universities was once heavily subsidized by the states. This was so long ago that I was one of those who benefited, up into the 1970s and gradually the state support for higher education was cut back.
Today, instead of low cost tuition, students graduate with huge student loans and spend much of their life trying to pay them back.**
I graduated debt free and this was common at the time.
Today, my old university says to expect a 4 year degree to cost over $100,000.
And, this is low cost compared to others in the USA.
**Then the USA wonders why the birth rate is below replacement and still falling.
Who wants to have children when you are not only broke but owe huge quantities of money in student loans that you can’t even get rid of in bankruptcy.
Wasn’t Mitt Romney part of one of those outfits? Bain, something like that?
I remember thinking what a charming origin legend it would have made had he been elected president.
“I cannot tell a lie. I sold that cherry tree, along with the rest of the farm’s assets.”
I totally agree with the main point of this thread, but I refuse to call our current oligarchy “capitalism”. As near as I can tell, we”re moving away from what Adam Smith had in mind in The Wealth of Nations.
Our current batch of feudal lord wannabees are most definitely not capitalists as I understand the term.
Dennis K says
Reminds me of my quiet walk around the neighborhood early this morning being interrupted by a Learjet booming overhead from the south. I’m not a violent guy by nature but my first thought was “stinger missile bait” and “I wonder where the debris would land?” This. Is. Capitalism.
Pierce R. Butler says
billseymour @ # 7: …we”re moving away from what Adam Smith had in mind…
But right in the center of what Karl Marx predicted.
Except for the worldwide revolution/happily ever after part he parroted from christianism.
billseymour, @ #7:
Smith never used the term, so that’s not really an issue. While it doesn’t come solely from Marx (there are a handful of earlier uses), his critique of what we now call capitalism is certainly what popularised it, so I’d say it’s fairly apt.
The attempt to associate modern industrial or post-industrial capitalism with Smith’s ideas seems to me to be largely a PR effort, as actually-existing capitalism has never had much to do with his ideals. (Except perhaps arguably by being inimically hostile to them…)
Seems to me that capitalism is very much like a perpetual motion machine, in that it pretends to be an ingenious system for never-ending wealth, but it’s really just a scam where the energy is being leached off from somewhere else and by the time you realize what’s happening the other guy has run off with all the money.
@6. feralboy12 : “Wasn’t Mitt Romney part of one of those outfits? Bain, something like that?”
Yeah, the good ole daze of Mittens Rmoney the dog on the hot car roof abuser who is now .. way to the relative “left” of the Repugliklans.
Source : https://en.wikipedia.org/wiki/Mitt_Romney
Back before the bat guano flinging extremest reichwing weren’t in charge of one side of politics over in the US of A..
As we say in our publications: ‘we live in a world controlled by “vulture crapitallists” where their only goal is to increase the wealth of the already obscenely wealthy at the expense of the populace.’ I can’t even begin to count/name all the businesses they have looted and destroyed. Welcome to the apocalypse.
Can they be vulture capitalists? Vultures are scavengers, the venture capitalists are parasites.
Ada Christine says
i know the term vampire capital, but maybe it’s a different idea?
@14 wzrd1 and @15 Ada Christine using the terms ‘venture capitalists are parasites’ and ‘vampire capital’.
I reply: you are both correct. The way these predator/scavengers work is often in any of the three modes: vulture (finding and gobbling up sick/dying companies) venture (an adventure in looting and pillaging) and vampire (sucking the life blood out of companies and leaving them dying) The results are so similar that we can see the devastation to our social fabric, destroying businesses, reducing the options we have, putting massive numbers of people out of work, destroying competition so they can drive up prices, etc. “CRAPITALLISM” at its worst.
shermanj, the shame of it is, venture capitalists used to be investors only, largely funding those in need, some specializing in startups, others in helping either expand or adjust to new market conditions in existing companies.
Then, the flipping fad began, starting in business investment, now well into real estate and branching into health care systems as a whole.