Killing Capitalism

In 1776 Adam Smith wrote his book on capitalism “The Wealth of Nations” in which he said government should not be involved in the markets. The only time government should be involved is to regulate the markets to protect people from cheaters.

The exact opposite is true today. For decades our government has reversed and eliminated any and all regulations that protect the public, and thanks to tax payer funding the government has now become the markets. We‘ve bailed out Wall Street, the banks, insurance companies, and now the Big Three auto makers want 34 billion up from the 25 billion two weeks ago.

Chrysler is a privately held company; GM and Chrysler have already been in merger talks. After we bail out the Big Three, GM and Chrysler will merge taking those tax dollars with them.

The CEO of Chrysler whined to the politicians on Capitol Hill to think of the ramifications of not bailing out the auto industry would have on this country, for instance think of all the jobs that will be lost. Even with a bail out they’ll still close dealerships and plants have been closing for decades in this country, jobs will still be lost.

The disdain these CEO’s have for us is evidenced by their showing up in luxury planes on their first trip to DC to ask for tax payer money. They get the jets and we get the debt. Do we the tax payer own a share in the proceeds Big Auto will make when they sell their fleets of jets as they said they would?

Since this government has staked the future of our capitalistic society on nationalizing debt to bail out the financial industry, we should nationalize the auto industry, jettison the CEO’s who failed miserably at producing a salable product and start back on the path towards economic equality.

What we have now is not capitalism, it’s oligarchy, control is in the hands of the moneyed few and the astronomical debt is forced on us all. That’s not America.