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A big problem with modern capitalism is that there is hardly any risk anymore. Risk is like a rocket ship that has left Earth, gone out of the solar system, and
by Top19 9y ago
A big problem with modern capitalism is that there is hardly any risk anymore. Risk is like a rocket ship that has left Earth, gone out of the solar system, and is not present on or near the planet anymore.
Your stock can drop 20% in a week, you can oversee the largest theft of valuable information ever recorded in history, and really the only thing that can happen to you is you make just as much money, perhaps more, if none of those things happened.
Can’t wait until the “Steve Bannon” of the corporate justice movement emerges to go after these individuals / the structure that creates them.
- Clubber 9y agoThere is risk, it's just transferred. We saw a lot of transferred risk around 2008.
- dogruck 9y agoHow do you define "modern capitalism?"
- FatherCadan 9y agoAnything pre-dating the fractional reserve system. Allowing entities to create value from no effort is not raising capital. Fractional Reserve systems lessen the skin-in-the-game spoken of earlier and transfer to societal decision making from the people doing the work and taking the risk to bureaucracies that are 'too big to fail'.
- dogruck 9y agoInteresting. Now I'm gunna go read up on those concepts. TIL.
- badosu 9y ago> Can’t wait until the “Steve Bannon” of the corporate justice movement emerges to go after these individuals / the structure that creates them. I'm sorry to sidetrack on this, but I was really puzzled by this sentence, that does it mean?
- Top19 9y agoSteve Bannon is kind of known for having a “hit list” within the political establishment. So first it was the Bush’s/Clinton’s, then it was the Koch Brothers, and now he is saying “the day of reckoning” is coming for Karl Rove and Mitch McConnell. Sometimes I think Steve Bannon is crazy, but other times I read his remarks and am shocked by how liberal some of them seem, e.g. his recent comment that Republican plan of tax cuts to the rich is “an economic hate crime” against the working class.
- lstyls 9y agoLiberal? Have you read Breitbart? Bannon has ideas about class and economy that support egalitarianism - if you're a Christian, support old-school western cultural values, and are white. Apart from a few populist notions I don't think there's anything about Bannon that could be called "liberal".
- personjerry 9y agoPeople can have different political leanings on different subjects
- nindalf 9y agoI force myself to read Breitbart now and then, to understand what people with different views are thinking. What you've said is accurate. At the same time, Bannon displays intelligence and straight talk at times. For example, when tensions with NK started to heat up, he called Trump's "fire and fury" threat toothless because any opening of hostilities with NK sees 4 million+ residents of Seoul die within 48 hours. He was "telling it like it is", and he was fired from the White House immediately after. Now I don't agree with most of what he says but I can see how his followers admire his plainspokenness.
- lstyls 9y agoTotally agree with you here, I think I could have made my point better. He has a consistent ideology and sticks to his guns to be sure. What I meant was he is not liberal in the classical economic sense, nor in the American social sense.
- pokemongoaway 9y agoThe term is "skin in the game" :)
- MrMember 9y agoI'm reminded of Howie Hubler, the man responsible for the single largest trading loss in history. His trade cost Morgan Stanley $9 billion. He resigned and was given $10 million in back pay.