A Quote by Jim Rogers
If you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich
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As a matter of fact 25% of our U.S. investment banking business comes out of our commercial bank. So it's a competitive advantage for both the investment bank - which gets a huge volume of business - and the commercial bank because the commercial bank can walk into a company and say, "Oh, if you need X, Y and Z in Japan or China, we can do that for you."
We have an economy that tells us it is cheaper to destroy earth in real time rather than renew, restore, and sustain it. You can print money to bail out a bank but you can't print life to bail out a planet.
You can print money to bail out a bank, but you can't print life to bail out a planet.
I was guilty of judging capitalism by its operations and socialism by its hopes and aspirations; capitalism by its works and socialism by its literature.
Instead of poor America on socialism becoming more like rich America on capitalism, rich America on capitalism is becoming like poor America on socialism.
Socialism for rich bankers and capitalism for everyone else.
Everyday I become more convinced, there is no doubt in my mind, and as many intellectuals have said, that it is necessary to transcend capitalism. But capitalism can't be transcended from with capitalism itself, but through socialism, true socialism, with equality and justice. I'm also convinced that it is possible to do it under democracy, but not in the type of democracy being imposed by Washington.
I want to say something, and it may sound harsh, not to you, but to the American people. In a sense, in my view, the business model of Wall Street is fraud. It's fraud. I believe that corruption is rampant, and the fact that major bank after major bank has reached multi billion dollar settlements with the United States government when we have a weak regulator system tells me that not only did we have to bail them out once, if we don't start breaking them up, we're going to have to bail them out again, and I do not want to see that happen.
I think the thing about capitalism is it's an evil necessity, capitalism. Communism has been tried and failed, and socialism, that doesn't work very well. Capitalism works, but the problem about capitalism is it does mean that a few individuals become very wealthy. Therefore, I think those individuals have enormous responsibility to redistribute that wealth either by creating new businesses or creating new jobs and making sure that money just doesn't lie in a bank account for future generations.
[C]apitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.
We all too often have socialism for the rich and rugged free market capitalism for the poor.
In the course of history periods of capitalism and socialism alternate with one another; capitalism is the unnatural, socialism the natural economic system... The National Socialists and the Red Front have the same aspirations. The Jews falsified the Revolution in the form of Marxism and that failed to bring fulfilment.
The major western democracies are moving towards corporatism. Democracy has become a business plan, with a bottom line for every human activity, every dream, every decency, every hope. The main parliamentary parties are now devoted to the same economic policies - socialism for the rich, capitalism for the poor - and the same foreign policy of servility to endless war. This is not democracy. It is to politics what McDonalds is to food.
If bankers can push the loans and make more profits for the bank, they get paid higher bonuses. They often also get stock options. If the bank goes under, they get to keep all of these salaries and options - and the government will bail out the bank. These guys will take their money and run, which is pretty much what they're doing now.
Capitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory notions and not merely contrary notions. There is no such thing as a mixed economy, a system that would stand midway between capitalism and socialism.
You don’t fight fire with fire. You fight fire with water. We’re gonna fight racism with solidarity. We're not gonna fight capitalism with Black capitalism. We’re gonna fight capitalism with socialism. Socialism is the people. If you’re afraid of socialism, you’re afraid of yourself.
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