The reason for this so called failure of capitalism is very simple and its not the fault of Capitalism itself.
If you say it does then you dont understand the bigger picture.
It the end product of a corrupt political system and an elite of Criminal bankster Mafioso who own and control the financial system and investment and money markets.i am of the mind that the current financial crisis was planned and prepared for from the outset by the aforementioned Bankster Mafioso to reach a preconceived outcome which is what we have now.
The money markets and derivatives markets are artificially inflated and deflated and interest rates are artificially low,the financial system has been de-regulated OR has been allowed to be self regulate allowing every possible criminal activity to take place within it not to mention fraudulent and toxic financial products and debt leverage and unprecedented borrowing.
Its a debt based economy and if there is no borrowing then it collapses.
If you want to blame something else in addition to that then blame the ideology of Globalism.
Do your research into that .Read books or go online and read up on it.You could also try looking around yourself to see the evidence that is all around you .
For example the Federal Reserve now holds and controls 96 percent of bank reserves of banks that were recently bailed out using funds that were produced out of nothing by the FED and allocated to Govt bailout plans that are charged to taxpayers.
The Fed give loans to govt to bail out failing institutions and the govt in turn charges YOU the taxpayer for this while at the same time ownership of these institutions is transferred over to the FED because the FED prints the money and the govt is the middleman who just handles the transaction because that is what it is.Its a transaction and its a transfer of ownership .
Ignore all that Crap about about you the taxpayer now owning a stake in these state owned institutions with which you earn a dividend or return on your investment because its fucking bullshit.You will not see a penny in return for your investment of tax dollar or pound because these institutions are now in private hands.
This has to be the case because the FED and the BOE are privately owned institutions.
Get It ??
Its transfer of ownership except you have been charged for it yet it has not cost the FED a cent or at most the cost of printing the hypothetical virtual money that never existed in the first place.
They win and you lose.
Before certain individuals tell me that i dont know what i am talking about they ought to educate themselves insted of parroting "Its the end of Capitalism !" while clutching their copies of Das Kapital and start to understand *exactly* why the financial system of unregulated or self regulating free market Capitalism *within* the banking/investment sector which has in turn affected the outside marketplace.
Spare your explanations about definitions of Socialism for the next SWP meeting no matter how correct they may be because they do not address the problem that is at hand.
Its Capitalism that puts food on your table ultimately wether its state controlled or privatised because its self defeating to argue against it and goes nowhere.
Refine your argument .
Be more specific.
Start talking about the issues i am talking about here.If you want to bash the rich start bashing international banking cartels and corporate elitists.Start bashing your corrupt self serving non representative representatives who kow to tow to big money and who have collectivly sold you all out in return for a Buck.
Politicians for hire.
Politicians for hire to the highest bidder.
Career Politicians who take bribes who are of weak moral fibre who collectivly did nothing or allowed you and i to completely fucked over by Corporate/financial elitists.
Politicians who have aided and abbetted criminals which makes them criminals themselves.
Dont bash me as i am trying to help but to a certain extent i can forgive because the stupid and uneducated know not what they do.
You might or do have a much better understanding of it in academia or textbook [theory] level than i do but you seem to have little or no understanding of current events or the practical.
Cause and effect.
Understand and be very clear that this is not indicative of a failure of Capitalism as a whole but that it has happened because of the mismangement of the financial sector by Govt who failed in their duty to act in our collective best interests and sold us out.
Wall St has been bailed out at the expense of Main St.
Its quite simple.
Corruption has destabilised Capitalism but it hasnt killed it because its not going away wether you like it or not.
Its not the end result of a failed ideology like Communism/Marxism/Socialism or Fascism.
You could also say that these ideologies also failed because of corruption and greed and the actions of mentally ill psychopathic Tyrants and their regime.That is a subject that is open to debate but ultimately they are all flawed and will never succeed.
Nazism or Communism should not be allowed to succeed under any circumstance.
Socialism could easily work with Capitalism in principle.Like i said before there needs to be a fairer system of taxation that involves taxing the super rich to make them pay into and contribute to the system that makes them rich.The problem is is that socialists have no economic sense and think that they can spend and borrow their way out of anything.Its like letting children run the treasury.
There is proof of this with New Liebour monumental mismangement of the economy that has very nearly bankrupted the UK.
We used to live in a meritocracy that was controlled by Oligarchs but now that has changed into a Kleptocracy and when you live in a Kleptocracy you will find that you also live in a Thugocracy with a fake Democracy.
I feel we are heading towards or are already witnessing the beginning of Totalitarianism and another ugly chapter in human history as we see the golden age of freedom and representative democracy under a Capitalist system fast coming to an end if it hasnt done so already.
Do you see anything *changing* within the banking sector because i dont .
However this is in the short term but bear in mind you might be seeing some changes by the end of Sept with a collapse of the US economy that has been widely predicted by many respected individuals.
The economy in the UK and the US is a fake economy that is based on credit and debt and a service industry with very little or no manufacturing base as it has all been moved overseas because of GLOBALISM Get it ?
Globalism moves poverty and economic prosperity around to different places and it the end the only winners are big money men,politicians and big business.
You personally and everyone else gains very little apart from cheaper bits of consumer crap that you buy in shops.
Its about centralisation and consolidation of economic and political power over into the hands of a criminal Corporate/Financial Elite Stupid.
Its all about transfer of ownership to Banksters the same as it is in every depression or downturn.
Work it out for yourself.
If you cant work it out and dont understand what is happening then you are talking about something that is way over your head.
Just spare me the student level politics .