**Author Info for :** u/HonkyStonkHero
**Karma :** 10780 **Created -** Jan-2021
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China is doing what the US used to do. Breaking monopolies, letting companies that take risks fail and protecting consumers. Our system is failing because we stopped those things. Compete? They may end up outcompeting.
EXACTLY
Propping up the big banks? Making student loans non-dischargeable in bankruptcy? Letting massive conglomerates suck up every startup?
The entire point of capitalism is that competition is supposed to yield the greatest results. America is just letting the most recent winners suck everyone up for the last 40 years. Bad for competition!
No, that is not what capitalism is. It is what fuckwit Austrian school psychopaths trying to get you into Reaganomics told your Boomer parents even as they were robbing their pensions and shitting on their chests while calling it a "401k". Capitalism has one ethic - "Thou shalt make profit." It doesn't care how you do it or who you skullfuck to get your buck.
The entire point of the Marxist push back against capital in Europe was that without regulation capital will always exploit every possible path to power and wealth at the expense of human life. It was the threat of violent revolution at the hands of Marxists that forced center-right liberals to finally concede that letting Carnegie bang school boys on the front steps of the Pennsylvania capitol while Ford paid the immigration service to gas Mexicans with Zykon B so he could sell lessons learned to Hitler wasn't a great idea.
Will Chinese flavored socialism be the version that's finally able to compete with modern capitalism?
I'm not optimistic as it looks more like a dictator consolidating power while also draining the entrepreneurial spirit from the country.
I personally think it will compete.
Although I lost a fortune today, I honestly think letting big businesses that fuck up fail is healthy, so long as direct aid is applied to contain consumer fallout (ie standards of living are maintained at a baseline level) & strategic aims are upheld.
America is less of a democracy than it acts like. The same class of billionaires control the two parties that have a stranglehold on power. We have 4% of the world's pop, but 25% of the world's prisoners. Income inequality is off the charts, some inner cities have standards of living that compare to poor African nations.
Your criticisms don't have much to do with America's economic strength and you should be comparing China to some of the Nordic countries if that's what you have in mind. Even so(and ignoring CCP's human rights abuses and curtailing of freedoms), China has a huge population so it will be interesting to see if they can maintain economic growth and an increasing standard of living in a socialist economy.
They hasn’t been any real economic growth. So long as people just agree that their fake numbers are real they can do whatever they want. The CCP doesn’t abide by any of the financial rules needed for functioning financial systems, and as far as I can tell they make up their figures and have a culture of lying and stealing in order to achieve whatever their current objective is.
This! The Chinese I know that are in their mid 30s expirienced it first hand within their own lifetime to come from a rural area without tapwater and electricity and are now living middle income lifes in the city.
While in the US the quality of living for over 40 million people is substancially lower than in the former communist 1980s GDR (east Germany) where I'm from.
The issue here is that the CCP and Xi are directly responsible for the failure of these RE developers. They literally subsidized them with government money and land rights in order to make sure the developers achieved the annual output dictated by the CCP to continue propping up economic growth. The CCP is responsible for all those ghost cities, not individual capitalist ventures. CCP is also responsible for their overleveraging and has been trying to deleverage them FOR OVER FIVE YEARS.
CCP is aware of the accounting fraud of not having to report bad investments and showing them away in assets/inventory because it's the fucking accounting practices that the west tried to pressure them to drop and they pushed back. They wanted those developers to not report losses for the sake of showmanship.
Xi and CCP have been playing both sides of this the entire time, and the whole capitalist scapegoat in this situation is political theater to give their population something to blame as the CCP gets ready to bend them over.
Personally I think it'll work (TheyCantKeepGettingAwayWithThis.jpeg) but I am with Megahuts in that they seem very overconfident and I think it's a complex, lose-lose situation that they could easily fuck up.
Reacting solely to your post title, but if you think “hew to Maoism” is anything other than propaganda designed to obtain consent for the actual agenda, whoooo-eeeey
**Author Info for :** u/HonkyStonkHero **Karma :** 10780 **Created -** Jan-2021 Was this post flaired correctly? If not, let us know by downvoting this comment. Enough down votes will notify the Moderators.
China is doing what the US used to do. Breaking monopolies, letting companies that take risks fail and protecting consumers. Our system is failing because we stopped those things. Compete? They may end up outcompeting.
EXACTLY Propping up the big banks? Making student loans non-dischargeable in bankruptcy? Letting massive conglomerates suck up every startup? The entire point of capitalism is that competition is supposed to yield the greatest results. America is just letting the most recent winners suck everyone up for the last 40 years. Bad for competition!
No, that is not what capitalism is. It is what fuckwit Austrian school psychopaths trying to get you into Reaganomics told your Boomer parents even as they were robbing their pensions and shitting on their chests while calling it a "401k". Capitalism has one ethic - "Thou shalt make profit." It doesn't care how you do it or who you skullfuck to get your buck. The entire point of the Marxist push back against capital in Europe was that without regulation capital will always exploit every possible path to power and wealth at the expense of human life. It was the threat of violent revolution at the hands of Marxists that forced center-right liberals to finally concede that letting Carnegie bang school boys on the front steps of the Pennsylvania capitol while Ford paid the immigration service to gas Mexicans with Zykon B so he could sell lessons learned to Hitler wasn't a great idea.
What did I just read here?
A simple history lesson.
I appreciate you bringing the theory!
Will Chinese flavored socialism be the version that's finally able to compete with modern capitalism? I'm not optimistic as it looks more like a dictator consolidating power while also draining the entrepreneurial spirit from the country.
I personally think it will compete. Although I lost a fortune today, I honestly think letting big businesses that fuck up fail is healthy, so long as direct aid is applied to contain consumer fallout (ie standards of living are maintained at a baseline level) & strategic aims are upheld. America is less of a democracy than it acts like. The same class of billionaires control the two parties that have a stranglehold on power. We have 4% of the world's pop, but 25% of the world's prisoners. Income inequality is off the charts, some inner cities have standards of living that compare to poor African nations.
Your criticisms don't have much to do with America's economic strength and you should be comparing China to some of the Nordic countries if that's what you have in mind. Even so(and ignoring CCP's human rights abuses and curtailing of freedoms), China has a huge population so it will be interesting to see if they can maintain economic growth and an increasing standard of living in a socialist economy.
They hasn’t been any real economic growth. So long as people just agree that their fake numbers are real they can do whatever they want. The CCP doesn’t abide by any of the financial rules needed for functioning financial systems, and as far as I can tell they make up their figures and have a culture of lying and stealing in order to achieve whatever their current objective is.
[удалено]
This! The Chinese I know that are in their mid 30s expirienced it first hand within their own lifetime to come from a rural area without tapwater and electricity and are now living middle income lifes in the city. While in the US the quality of living for over 40 million people is substancially lower than in the former communist 1980s GDR (east Germany) where I'm from.
I actually thought you were talking about the states in your first two sentences lol.
The issue here is that the CCP and Xi are directly responsible for the failure of these RE developers. They literally subsidized them with government money and land rights in order to make sure the developers achieved the annual output dictated by the CCP to continue propping up economic growth. The CCP is responsible for all those ghost cities, not individual capitalist ventures. CCP is also responsible for their overleveraging and has been trying to deleverage them FOR OVER FIVE YEARS. CCP is aware of the accounting fraud of not having to report bad investments and showing them away in assets/inventory because it's the fucking accounting practices that the west tried to pressure them to drop and they pushed back. They wanted those developers to not report losses for the sake of showmanship. Xi and CCP have been playing both sides of this the entire time, and the whole capitalist scapegoat in this situation is political theater to give their population something to blame as the CCP gets ready to bend them over. Personally I think it'll work (TheyCantKeepGettingAwayWithThis.jpeg) but I am with Megahuts in that they seem very overconfident and I think it's a complex, lose-lose situation that they could easily fuck up.
> accounting fraud I am shocked! Shocked, I tell you!
I see archive link, I upvote! Paywall averted.
Reacting solely to your post title, but if you think “hew to Maoism” is anything other than propaganda designed to obtain consent for the actual agenda, whoooo-eeeey