Dispatches From the Revolution

[Yonadav]

From Robert Reich:

"This story epitomizes exactly what is wrong with the American economy. Billionaire hedge-fund manager Ken Griffin just paid $238 million for a New York City penthouse, shattering the record for the most expensive home ever sold in America.
Griffin is also one of the biggest donors in American politics. However, Griffin changed his political affiliation from Democrat to Republican after President Obama tried to crack down on tax breaks for hedge funds. Since then, he has made more than a million dollars in contributions to conservative causes. Oh and by the way, Griffin also received a $200 million government bailout during the financial collapse of 2008.
America has generous socialism for the rich, and cold, hard capitalism for everyone else. We must end this vicious cycle of money, power, and greed."

https://www.businessinsider.com/ken-griffin-most-expensive-home-ever-sold-us-nyc-penthouse-2019-1?fbclid=IwAR1bZZI0gJw66dUYGGyswZSOofBzZnEUa1pVR7vJacAjtdolkDi_-G-HoGY

I really hate the misuse of the word "capitalism". "Socialism" is a form of government, "Capitalism" is not.

China allows the private sector. And despite what many think, Hitler did not outlaw the private sector, that still existed under his rule. But what he did with the private sector was to steal it from society and reward his cronies. 

I agree with ending this type of greed though. The more you jack up prices like this guy paid, without raising wages for the rest of society, the more people get priced out of the ability to make ends meet and save money.

There is socialism already in America. The billionaires socialize the wins between themselves and shareholders when they win and socialize the losses on the tax payers when they lose. Bush's great recession is a prime example of that. 

The problem isn't getting rid of the private sector. The problem is that we need to get back to pre Reagan regulations that enforce regulations on Wall Street and enforce anti monopoly concepts.

You really hate everything, and usually because you misunderstand it. That's textbook hatred from ignorance. Reich didn't misuse the words capitalism or socialism. He didn't say that capitalism is a form of government. You just ignorantly think that he did, so you hate it. And incidentally, socialism isn't a 'form of government'. Socialism is more of a form of economics in which a governing body owns the means of production. And capitalism is a form of economics in which income is derived from ostensibly private capital. 

Socialism and capitalism are not mutually exclusive. Capitalism can't exist without a certain amount of socialism. Reich is an expert, and his complaints are about socialized costs that benefit the wealthy almost exclusively. It's this little thing called corporate welfare. Griffin is a welfare queen.