are we bankrupt or just morally bankrupt

Is it fair to suggest that because Barbados’s economic growth is 0.5% we are doing poorly. Is it possible that we have maxed-out. I expect that Guyana can have 7-10% based on its vast untapped potential were as Barbados may have over extended or exhausted it capacity and is in need of review.
On the other hand. What is of amusing is that we did not put aside in the time of plenty for the time of need. OSA and gang failed to restructure the fundamentals and FJS and company need to step up to the wicked and be a Chris Gayle at his best.
Just thinking out loud

The problem is the greed and ignorance of the so called Political “leadership.”
Pols jump into bed with very greedy bankers/ financial types who have big $$$$$ to pay for “favours”. Pure Corruption!

On the other hand Pols also pander to those lazyasses in society that want free handouts and have absolutely no intention of working. The combination of these 2 critical factors will eventually ruin any economy especially when there is a demographic bulge in the retirement age group as in Japan, Europe and the USA. Throw in the fact that in the last 25 years China, India and Russia switched from FAILED Leftist Policies to Incentive based systems and the Western World, including Japan, is DOOOMED! It is not the failure of Capitalism it is a massive failure of Socialist/ Leftist Policy in the East and much of the West.

Read as : Nature is SIMPLY

@david
When you have a moment ,drop by the mental in Blackrock.
Have a little chat with some of those on the railings.
Seemingly surpisingly Lucid.
Follow some of the thought patterns.Can take you off on some amazing tracks.

“Capitalism’s Last Gasps”, the title of the above thread, does sound like a title Dr Rodney Worrell, Dr Tennyson Joseph and Mr Edwin Cobham can so easily identify with.

For years these and many other people have been talking and writing about either the demise or the possible demise or the collapse of Capitalism. Some of these people have even been wishing for those things to happen to capitalism across the world.

But, like how the contents of thread gives no support to its title, these people provide no supporting evidence whatsoever for capitalism entering its last or dying stages of existence, or of what will take over from it. What they mainly do is to look at, say, the 2008 financial crisis in the USA and the ongoing Eurozone debt crisis, and point to this so-called demise or such like in Capitalism.

Ever since Karl Marx’s false predictions in the 19th Century about Socialism and then Communism taking over from Capitalism, vast numbers of anti-capitalist socialists and communists worldwide have been swearing for the ending of Capitalism. And like many religious fanatics who would have long been, not prophesing, but wishing for the destructive, fire and brimstone, ending of the world, but either did not live to see it, or though living still have not yet been able to see it, many political fanatics – dead like Lenin and Stalin, or alive like Fidel Castro – would also have been wishing for what they believe would have been, or would be, violent revolutionary endings to Capitalism.

Were Mao, who was one of the founders of Communist China in 1949, and who would have led the Great Cultural Revolution against the counter-revolutionaries in the 1960s, alive today he too would have been shocked to see the great extent to which Capitalism – aided and abetted by Chinese leaders like Deng Xiapeng, Jiang Zemin, have too taken over China. The truth is that China would not have become the number 2 political economy in the world today without many of those capitalist reforms that have been put in place since the 1980s.

And what about the Communist North of Vietnam, who the American military fought against and lost for control of the South Vietnam in the 1960s and 70s, but, who having taken control of the entire Vietnamese society thereafter, are now more capitalist than ever?

And how about the Cuban political leadership that has been for some time, since the collapse of communism in the west, introducing more and more capitalist reforms? and the Nicaraguans that have long done so?

And last but surely not least, the lands the Communist Reds, who greatly symbolised the hammer and the sickle and the bear, ruled over from the 1917 Revolution to the 1990s, from Poland to Hungary and from East Germany to Russia itself, that have long become so capitalist.

For sure, capitalism would not have been dying or have been in its last stages and so many countries and peoples across the world have been becoming more capitalist over the last twenty years or so.

Moreover, such capitalist trends have not only been developing across the world but there have also been the realisation of greater political freedoms and liberties and rights for millions of human beings across the world. Indeed, these sweeping changes are and have become part of the fundamental bases ushering in these material and financial changes in the particular regions.

With such ideological political legal constitutional changes too there will also be ideological political legal and constitutional changes within the capitalist mode of production itself eventually and which the PDC hopes will lead to more citizens worldwide being the owners of the enterprises environments frameworkings in which they currently operate and being the owners of greater properties.

PDC

Dr. Love have you forgotten that there are more mentally unstable ones outside than inside? The patients got there complained of hearing voices and were deemed mentally unstable. On the outside many who are hearing voices call it God’s voice so they are deemed mentally stable. These people occupy the highest office, lead thousands called the congregation and yet none one will commit them.

The Anglican church in Barbados through its Bishop and Archbishop came out swinging, in defence of the banking community and the masonic brethren in complete contrast to the demential and alzheimeric diatribe of one charlatan called Holmes Williams.People like him should be committed.
Many years ago an anglican priest in an address to some youngsters in his congregation told us that most of those mentally unbalanced folk in Jenkinsville,aka jinkins in bajan parlance,were there on account of religion.That was and is a profound statement coming from a trained clergyman and in my opinion a very honest opinion.Some will say a clergyman should not say that.I wish we had more outspoken but intelligent contributors to the ills which are perpertrated by the dog-collared criminals in our midst calling themselves pastors,evangelists,apostles and prophets while daily stealing peoples money and real estate.Is not the catholic church one of the biggest owners of real estate in the world?So said one Garner ‘Ted’Armstrong himself a wacky personality.

Gabriel……………religion was a scam from day one, check it out under the rule of Constantine…………..it was and always will be a scam to brainwash the masses of asses for money, wars, ethnic cleansing and all other evils that greatly affect the naturalness of human life.

Enjoy the following snippets:

Why should you worry? Capitalism breeds corruption and inequality

But the 2008 crash challenged our faith in free-market capitalism: “The financial crisis did more than cast doubt on the ability of markets to allocate risk efficiently. It also prompted a widespread sense that markets have become detached from morals.”

Then comes the big question: So what? “Why worry that we are moving toward a society in which everything is up for sale?” Two big reasons concern Sandel:

First, inequality: “Where everything is for sale, life is harder for those of modest means.” If wealth just bought things, yachts, sports cars, and fancy vacations, inequalities wouldn’t matter much. “But as money comes to buy more and more, the distribution of income and wealth looms larger.”

Second, corruption: “Putting a price on the good things in life can corrupt them … markets don’t only allocate goods, they express and promote certain attitudes toward the goods being exchanged.” Also “corrupt the meaning of citizenship. Economists often assume that markets … do not affect the goods being exchanged. But this is untrue. Markets leave their mark.”

@DR Love
If this subject has “occupied your life” as your ramblings pertain to Capitalism then it has been an abject waste in that respect. U say capitalism has failed and yet the FACT is that Leftist ideologies in China, Russia, India, Vietnam and Cuba to name just half of mankind has been a ABSOLUTE PROVEN FAILURE and those Nations have turned to an INCENTIVE Based Economy.

You did NOT establish what your definition or the definitionS of Capitalism are. You equate Capitalism with greed, corruption etc which fails to observe that these traits are found in all political systems as those systems are practiced. Why? These are human traits! Dont you appreciate how ironic it is that the former Commies leaders in Russia and China are now the oligarchs and they are exceedingly rich. So these Commies are hardly any less Corrupt or less greedy than so called Capitalists. These Leftist leaders were always living “high on the hogg” compared to more than 99% of their population BUT eventually relised that a new Incentive Based System would grow the Economic Pie at a much higher rate and therefore make the leaders even much richer. They certainly got that right!

You totally misunderstand the “lemming” analogy since it applies to ALL of Mankind following over the cliff. This would be due to human psychology NOT any particular political system. In religion we have witnessed the “lemming effect” with many denomitions ie Hellsgate, Davidians, Jim Jones, Jihadist Muslims….they have all rushed over the cliff following some lead lemming. It is a human frailty.

You proceed to discuss Natural Selection which actually supports Capitalism/ Incentive Systems! The concept is clear that those who are cleverer or more hardworking deserve more rewards than those who I call Lazyasses who have absolutely no intention of working if some idiot Pol will ensure they are fed, clothed etc without effort on their part. This Lazyass Syndrome” is precisely why Leftist concepts FAIL MISERABLY! There were Medical Doctors in Russia who had to supplement their income by offering Taxi Service as they drove to work. How can a DR and Garbage Collector deserve the identical pay? Obviously can NOT work!

Your “cancer of Capitalism” must be a very benign variety that leads to the vast majority improving their longevity and standard of living. Rice production in Cuba has jumped markedly since Entrepreneurs were permitted to hire peeps to make $$$$. Do you think that a poor rakey place like Cuba could use more food??? The reality is that some Capitalists become very wealthy because they deserve to. Case in point is Frank Stronach here in Canada.
Immigrated from Hungary with nothing to escape Leftist BS. He became a Toll and Dye maker and eventually decided to start his own Auto Parts business. Today he employs 117,000 people globally. He believes in Profit sharing and his employees are very pleased with that and to have a job.

Dysfunctional politicians pushing Americans past point of no return

Can we change? “The appeal of using markets to put a price on public values, is that there’s no judgment on the preferences they satisfy.” Debate is unnecessary. Markets don’t “ask whether some ways of valuing goods are higher, or worthier, than others. If someone is willing to pay for sex, or a kidney … the only question the economist asks is ‘How much?’ Markets … don’t discriminate between worthy preferences and unworthy ones.” Markets may never draw the line, but do politicians, in secret?

What is certain: Capitalism is eliminating moral values, as Nobel economist Milton Friedman and capitalism’s philosopher Ayn Rand had been preaching to the generation. As Sandel puts it: “Each party to a deal decides for him- or herself what value to place on the things being exchanged. This nonjudgmental stance toward values lies at the heart of market reasoning, and explains much of its appeal.”

But unfortunately, market capitalism “has exacted a heavy price … drained public discourse of moral and civic energy.”

The good professor is a great teacher, with only one glaring flaw in his logic: he’s too idealistic, too quixotic. You don’t have to be a fatalist to know that without a total economic collapse, market capitalists — including 1,426 billionaires, Wall Street bankers, hedgers, lobbyists and every other special interest getting rich off the new market society — will never voluntarily surrender their control over the American political system.

Rather, they will blindly continue down their self-destructive path with an absolute conviction they are divinely guided by the Invisible Hand of Adam Smith, and perhaps even God.

Meanwhile, we have no choice but wait patiently till the collapse, anxiously aware that our bizarre political system will just keep degrading America’s moral values, pricing, buying, selling, trading morals like commodities, because in the final analysis everything has a price and everyone has a price in our hot new exciting Market Society.

Read the full article:

Capitalism is killing our morals, our future

Here in Ontario we have a Socialist Party in power for the last 10yrs BUT the corruption is rife. They agreed to build a new Gas/ Electricity Plant which was later stopped because the peeps living nearby protested. We learnt that it would cost $40mn when actually will cost $310mn. The really corrupt aspect is that $150mn is the result of a Loan financed in the US at 14% interest with userious penalties for early repayment. That loan could have been arranged in Canada for a cost of 4-5% not 14!

CORRUPT lil SOCIALISTS!

Capitalists do not have a monopoly on greed or corruption!

Meanwhile the Dow hit the 15K mark yesterday,S&P the 1600 mark,both historic achievements,165K jobs added in April and unemployment down to its lowest in 4 years at 7.5%;is the US on the way back?Pundits think so.

@Gabriel

The Fed stimulus will always create a bounce then what?

@Well Well,
It seems we are kindred spirits re “religion ..is a scam”. e-mail me and I will send you an excerpt from my latest book (not yet published, but in the process) for your thoughts. I fraid for the BU “thinkers” for now…didn’t Island Gal say I suffer from “verbal diarhoea? so for now I will only solicit your thoughts. But I agree with you.

@Alvin

Do you understand what spammers do to emails exposed on the world wide web? Any way BU fixed it.

What we have been discussing this morning has taken on a life of it’s own, and is now a worldwide debate………….the link below is a very practical indictment on capitalism and gives us a stark view on why the sheeple are they way they are…………………

Miller would love this……………………..

https://www.facebook.com/photo.php?fbid=422931081138854&set=a.228977060534258.47671.222983281133636&type=1

@Moneybrain.
MAKE UP YOUR MIND!!.
You recently said that all the Commies are really Capitalists anyway.
Want some cake??
You obviousliy eaten yours.
🙂 you are camera
Berating WellWell,Shame on you.
But there you go being RIGHT again.

@DR Love
U purposely would like to corrupt my point! The fact is that all these political systems have HUMANS BEHAVING BADLY!

Thanks for appreciating that I am RIGHT!

U guys just intend to denigrate Capitlism when it is really HUMANS to blame!

Why dont we just dedicate a part of each region to Capitalism and another part to Commie/ Leftists??? Excuse me we already have/ had that as in Nth and Sth Korea, Eastern and Western Europe, Guyana and Bdos et al and guess what the more capitalistic portion won everytime! Coincidence surely????

@DR Love
Yes U have a serious mental deformity and U live on this planet!

Chinese view of Communism is totally irrelevant because they failed to make it work. Therefore why would ant intelligent person care about there views on the subject! I dont permit losers to guide my thinking.

Given the utter nonsense U write why would I care whether or not U appreciate my excellent advice to my clients. However, if the next 100 years or so U can accumulate $1MN+ I may consider enhancing it on your behalf. I will not be losing any sleep waiting.

You do not seem to have the foggiest idea of the difference between Speculation and Investing.

The financial worlds problems were definitely not caused by people like me. Those problems were engendered by Pols in the US(Europe et al) who only had to read and understand financial history to know that they should not sell out to equally corrupt Wall St bastards. What has happened was the obvious result of excessive money creation, which was born due to Pols in the US wanting to use public markets to subsidise financing to the bottom 30% of the income spectrum in order to purchase homes without having to work hard and be disciplined in saving for many years. How come immigrants to Nth America come here with nothing and find away to succeed in buying their own home without Govt intervention?

I have absolutely no regrets being in the money business! Honest Medical Doctors in the USA do have regrets with the actions of the AMA sanctioning nonsense coming out of Pharma companies. Now there is an evil, despicable group.

@ David
You asserted that resource based economies are doing better that service economies, and you are half right. The other half of a truth is that even resource based economies are facing short-term and medium-term crises as well. We cite peak oil with no real new discoveries coming on stream in decades. In addition, environmental catastrophes or tipping points only exacerbates a foundational crisis of capitalism. As you know we have been talking about this for years, here and elsewhere. This subject is destined to be a fringe issue until the bottom falls out of the capitalist bucket or bubble/s. We don’t have much longer to wait now! Be guaranteed however that there will be massive dislocation, a drastic contraction in populations and a new world order the likes of which homonyms are yet to see.

@moneybrain
Jus jokin man
PLEASE Look after my 5$