Dumb CEOs? I don't agree. We have the smartest CEOs in the world. They engaged in stock buybacks because they have accumulated so many hundreds of billions of dollars in cash, that they are struggling to deploy it in assets with a return greater than their cost of capital. They are simply returning that cash to investors, which is their duty as CEOs, when they can't invest it to make more money.
Having said that, I agree that US Capitalism is very very sick. I don't actually believe we have a majority capitalist system anymore. I think we have a very socialistic system overlaid with crony capitalism. We even have it all flavored with Fascism. Look no further than Citizens United and the rampant lobbying that goes on. Look no further than the centrally planned economy by the Fed or the rotating door between the big wall street banks and the Fed and Treasury. Look no further than the financialization of our economy, where some of the biggest gains are made by the skimmers on wall street. Look at our career politicians (like Hillary), who've never done an honest days work outside politics.
Capitalism? We had it once, but not really anymore. I think my generation will be the last one to have enjoyed the fruits of Capitalism. Future generations will become increasingly Socialist and then most probably will eventually succumb to Dictatorship as in Cuba, North Korea, China, Venezuela, and all other Socialist Utopias. Why do I think this? Absolute ignorance and idiocy among the future generations. Read this article to find out more about the Millenials.
Millennials: Communism sounds pretty chill
Shawn Langlois
marketwatch.com
 Getty
Anti-aircraft missiles on parade as they are led past Lenin's Tomb en route to the saluting base in Red Square to celebrate the anniversary of the Bolshevik Revolution.In a Halloween tweet that’s since gone viral, Donald Trump Jr. jokingly (although who really knows these days?) took the opportunity to impart an important political lesson to his cute little daughter.
Perhaps he should share his wisdom with millennials.
According to the latest survey from the Victims of Communism Memorial Foundation, a D.C.-based nonprofit, one in two U.S. millennials say they would rather live in a socialist or communist country than a capitalist democracy.
What’s more, 22% of them have a favorable view of Karl Marx and a surprising number see Joseph Stalin and Kim Jong Un as “heroes.”
Really, that’s what the numbers show.
“Millennials now make up the largest generation in America, and we’re seeing some deeply worrisome trends,” said Marion Smith, executive director of the organization. “Millennials are increasingly turning away from capitalism and toward socialism and even communism as a viable alternative.”
But do they even know what it is?
The survey, which was conducted by research and data firm YouGov, found that millennials are the least knowledgable generation on the subject, with 71% failing to identify the proper definition of communism.
Smith explained that this “troubling turn” highlights pervasive historical illiteracy across the country and “the systemic failure of our education system to teach students about the genocide, destruction, and misery caused by communism since the Bolshevik Revolution one hundred years ago.”
Other findings include the belief held by 53% of millennials that America’s economic system works against them, which is the same percentage in the prior study. Meanwhile, 66% of Gen Z, ages 16-20, say the system works for them.
When it comes to the wealth divide, Americans seem to be on the same page, with 80% saying it’s a serious issue, up from 78% a year ago. They also mostly agree (68%) that the highest earners don’t pay their fair share in taxes.
“This report clearly reveals a need for educating our youth on the dangerous implications of socialist ideals.” Smith said. “We will continue to work with educators to build curriculum to address this important need.” |
