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Frank Lee's avatar

It it wasn't for f*cking China and f*cking Apple corporation and a few other greedy American corporations trained China to take over most industry and manufacturing, we would have absolute historical and current proof that the collectivist models that American liberals crave is a road is a shit model that will only lead to more collective misery.

Democratic capitalism, until it is corrupted to be more authoritarian corporatism like it is today - and we saw its ugly seven serpent head during the global pandemic - is by far the best design in terms of matching human nature. The core of human egoism... our craving of individual achievement and reward as our top psychological need of self actualization. Only the free playing field of merit competition supporting the creative destruction construct of the capitalist model do enough people have enough opportunity and income mobility to keep them satisfied at different socioeconomic levels. The guy with less will be less resentful because he knows that with hard work, some risk taking and a bit of luck... he too can rise to the upper classes. He might decide he does not want to do that... but the fact that the path is not blocked is all he needs to be satisfied with a lower socioeconomic class life.

But massive Wall Street-drive corporate consolidation and the move for big government to collude with these big corporations in more consolidation, regulations, taxes, fees, certifications, restrictions, etc... has eliminated much of competition and pitted the playing field. There is not enough economic opportunity and income mobility for the bottom 80%. The top 10% has managed to horde and lock the income and wealth-making machine. So the guy with less is now resentful because his path is blocked.

Our government failed to protect the very things about our democratic capitalist system the greatest on God's green earth. Even today, the Trump Administration is wringing their hands over corporate merger and buy-outs that we should absolutely deny.

So the resentful guy looks at China and says "hey, communism works well!". And liberals exploit the ignorance to lie that there is a collectivist utopian model that can work, because, hey, look at China with all their gleaming cities and bullet trains!

But China is only China today because they looted everything that the American democratic capitalist system first developed. China sucked the lifeblood from the American system that previously gave the lower class guy comfort that he path was not blocked. Our politicians and government not only allowed it to happen, but encouraged it. Wall Street has done very well. The lower 80% of Americans have falling further and further behind.

And now those falling behind are trashing capitalism as the cause... ignorantly missing the point that is the corruption of capitalism that is the cause. It is the already existing drift of the system to be a Chinese corporatist model that has led to such lopsided rewards for only the upper class. And the dopes that now think Chinese style governance is their savior really ignore the fact that most of the Chinese people still live way below the socioeconomic circumstances as the people of Mississippi... the American state with the lowest family income and wealth.

What the US needs is a bill to enhance antitrust actions against large corporations where there are few of them that dominate more than 50% of a given market. We also need new legislation that restricts Wall Street ownership concentration in corporations and markets when firms own shares of each other. Together Blackrock, Vanguard and State Street might own 30% of many major corporations, but they also each own a large number of shares of each other. That cross-ownership makes them a single entity that should never own 30% of a corporation, and should be restricted to a lower percentage. Also, Wall Street firms should be restricted from having directors on the boards of these corporations. The same should be for public pension funds and foreign sovereign funds. Wall Street is for equity funding, not control. Pension funds are for investing in member pensions, not control.

If we look at the number of small business starts that hire (not the government lie that small business starts have increased, because the bulk of that increase is SOHO operations or people having to join the gig economy), it crashed beginning with Obama and never recovered. THAT is the measure we need to focus on. Breaking up big corporations. Preventing more corporate consolidation. Re-shoring. Basically exploding our small business economy again. THAT will give the guy currently seething about his blocked path and renewed vision that he can rise up with effort.

That is how we save the system from liberal destruction.

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