Merit based economies and capitalism

Because there are millions of people hoping to strike it rich without the slightest regard for anyone else. Many of them equally have zero regard for law and order. The only thing that keeps them from committing outright crimes is the fear of incarceration or getting kicked out right back to where they came from. A large percentage of those would kill their grandma for a million bucks if offered without legal repercussions.

Here you have your simple answer. Stupid people think they are the lucky one to make it. The tiny intelligent, honest, and hardworking percentage strike it rich and buy themselves and their families what most others can't and raise high fences around everything they accumulate in fear of having it stolen by the mob. The exact same way the existing wealthy already isolate themselves from the rest of society. It is a deliberate system that was built to favor the few powerful and connected while maintaining a huge lie about chances and opportunities for the masses. This might have been different a long time ago but is not the case today.

Still none of my guess invalidates the facts on the table which is that the US scores shockingly low on most metrics that measure quality of life and happiness. Must Americans (and for that matter a majority of Canadians) can't even survive for 2 or 3 months without paycheck and over 50 percent of the entire population reported that they will operate at a loss if their paycheck decreased by just 200 dollars. Speaking of living on the edge. We are not speaking of a fringe minority or the lazy, we speak here of half of your entire nation.

If we are “ lagging in almost every metric” then why the hell are millions of people trying to come into our country every day ?? Why arent millions of Americans moving to finland, china, england, canada, africa and mexico???
Your statement is a bunch of nonsense.
 
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Again, your statement is complete and utter nonsense. Why do millions of people try to come to our country on a daily basis? Why arent people flooding into africa, canada, finland, france, mexico, and china?
Why? Because America is the best country in the world regardless of how you try and spin it.
 
I just answered that. Read. It works.

In fact more people migrated to Canada than the US for the past couple years as measured per capita. Get your facts straight, idiot.

Nobody spins anything. The metrics are well defined and measured professionally and the sample size is large. Read, don't just believe me, before you make yourself look stupid.

Again, your statement is complete and utter nonsense. Why do millions of people try to come to our country on a daily basis? Why arent people flooding into africa, canada, finland, france, mexico, and china?
Why? Because America is the best country in the world regardless of how you try and spin it.
 
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Canada ??? Yeah, those that cant get into America go to Canada. Canada has always been America’s red headed step child.
Even Canadian geese stay in America.
 
We used to have a Capitalistic country, before the FED.
But since the inception of the FED (1913), we have morphed into a new system:
"Creditism"
Capital is not so important now.
And capital can become scarce, which translates into lower tax receipts to the Treasury.
The expansion of credit by the banking system is all that matters.
(Fractional Reserve Banking)
***
Capitalism is very robust. Similar to trading in a cash account.
Creditism is not very robust. Similar to trading on margin.
The recent three bank failures are examples of creditism.
Is that so? In this case Americans caught the creditism flu a long time ago...
https://www.stlouisfed.org/open-vault/2020/april/snapshot-record-high-household-debt
 
...Why do millions of people try to come to our country on a daily basis?...

I think many of them do it because they want to get the free stuff we offer though our liberal expenditure policies. Many others really do think they can live the American dream, and become the next "Hot Cheetos" guy. They just want the chance!
 
I think many of them do it because they want to get the free stuff we offer though our liberal expenditure policies. Many others really do think they can live the American dream, and become the next "Hot Cheetos" guy. They just want the chance!
I agree plus all the freedoms and great medical technology.
 
Is it a capitalist economy if banks are not allowed to go bust? Bankers can take risk and get bonuses but there is no downside.
Banks do go bust, and when they do, bankers lose their jobs and common share holders lose the money they have invested. That's all very much consistent with Capitalism! But you as a depositor are not an investor, and you won't go bust when your bank does, because you are protected by a strong federalized central bank and other associated protections. If you wanted to reduce your risk of losing your deposited money, the federal protections we enjoy in the United States free you from having to examine your bank's books before you make a deposit, which would be an impractical and intolerable burden on depositors.
 
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