Quote:
Originally Posted by ASU2003
It's not that all capitalism is bad, that's not it at all. But there needs to be checks and balances to make sure people aren't cheating to make a quick buck.
Some real estate speculating is ok, but it should be limited to buying old homes and fixing them up. Not buying new construction and selling it for tens of thousands over the base price before it is even finished using a 80/20 interest only loan with 0 down (and never having the intention of moving in).
|
This is where I tend to come down on the issue. It isn't about getting rid of capitalism per se. It is about regulating the wilder elements. Have a look at the sorts of policies and regulations that came about following the stock market crash of the 20s. These are the sorts of things that are required to keep balance.
The sorts of libertarian fantasies that are called for can result in greater profits for a small number of people. I favour a system that has the ability to benefit a greater number of people.