Re: the future long term financial apocalypse of the USA

On Sat, 18 May 2024, Dimensional Traveler wrote:

On 5/18/2024 5:56 PM, Titus G wrote:

On 19/05/24 01:34, Michael F. Stemper wrote:

On 17/05/2024 15.31, D wrote:
 

I was unaware

 Ignorance is bliss.
>
  we have anything resembling capitalism. What we have

today is a plan economy with government calling the shots, which is
far from capitalism. Many billionaires are the ones who are the most
cosy with politicians.
 As for who the wealth belongs to and the benefits for the population
at large, note that we are living at a high peak of civilization
compared with 100 years ago on all scales, infant mortality, wealth,
quality of life etc.

 The implication of what you're saying is that living at the peak of
civilization is strongly correlated with having a planned economy
rather than capitalism.
 

 Be careful. You might smear his rose tinted spectacles.

>
One suspects that D is of the opinion that any kind of regulation or legal restraint immediately makes a given economy "non-capitalist" and a "planned economy".

Yep, or if not, at least reduces the efficiency and produces worse results. On the other hand, I live in europe, so I get the "benefit" of studying socialism up close every day. I imagine living in the US or a more free country, that it is easier to come to the belief that government "fixes" all the problems of the market when you have not seen the horrors of socialism up close as in europe.
On that theme, I recommend this article in FT where Börje Ekholm, CEO of Ericsson says that overregulation is driving the EU to irrelevance (https://archive.is/XAISI).
I agree completely with him.