This morning on a radio show, I heard someone ask the question; How can I explain to my child that capitalism is the best system in the world when we owe China, the largest communist country in the world, tons of money?
That's an incredible question. I'm not saying I agree with communism in any sense, but the question is an interesting thought.
Just how broken is America financially?
I've just spent 10 minutes trying to figure out an answer to this question, but couldn't.
Because we buy so much stuff that they manufacture they have a lot of our money.Now since we don' t manufacture anymore we must borrow to buy stuff and we borrow the money from them.True wealth comes from things that are created. Not paper profits from Wall St.
Capitalism IS NOT the best system in the world. If that was the case, the world be would be capitalists. A capitalist/socialist economic system goes hand in hand. China is a capitalist/socialist country, along with the US and 3/4 of European countries. This country experienced 90% capitaism from the Industrial Revolution till about 100 years ago and it was a disaster for the working class.
The answer is easy: The US isn't a Free-Market.
Every time the governments a penny, we're one penny further away from Capitalism and one penny closer to communism.
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