Thursday, October 13, 2011

Stopped Clock Watch: Furiously Buried At REDDIT

Ace of Spades HQ: "You've people got it backwards. Capitalism calls for insolvent banks to fail. Socialism calls for them to be bailed out.
submitted 11 hours ago by r3compile

Edit: Some more complete thoughts:

The free market gets rid of risky, unstable businesses. Capitalism means if you don't have a viable product, you go away. People vote with their own money.

In Socialism, you vote with other people's money. You keep throwing good money after bad because you like the idea of a stable bank and you don't want to admit that it needs to go bankrupt.

All a businessman can do is try to sell you something that you think is worth the money.

But a government can take your wealth by force, and allocate it to an area that has no viable market, purely for the benefit of catering to voters and trying to get re-elected."
Bingo.