Capitalism FAIL in The USA: Socialism To The Rescue!: open discussion.

[Into the Night]

Since the kiddie pool has decided to have a discussion about socialism and capitalism along with so-called 'climate change'. I am opening a parallel thread where discussion is open to all.

Again, selected posts from the other thread will be copied over to here.

[Into the Night]

Climate Change has poured out storm after storm, and caused billions in damage.

Define 'climate change'.

For-Profit insurance companies have not been saving up the money they get in payments for home owners insurance all these decades, have not been preparing for the worst case with a lot of storms.

No, they were stupid enough to insure properties that they shouldn't have insured, and that shouldn't have been built on in the first place.

(Instead, they used too much of the money to make their executives and investors RICH)

It failed. They were losing money.

So, after a bad year for storms (gee, what caused THAT?)

Nothing.

for-profit insurers decided to minimize their risk in storm-prone areas.

They should never have insured them to begin with.

They began mailing out notices to home owners and businesses that their insurance would be DROPPED.

Of course. The properties were unwise things to insure in the first place. People were idiots to buy them.

Doesn't matter if they can pay or not.

They already paid. They bought bad property. Oh well.

Selected names are not accepted, no matter how much they can afford to pay. Black-listed from buying insurance.

WRONG. They can buy insurance for any property that's insurable.

How could capitalism be so cruel?

Capitalism doesn't protect you from your own stupidity.

How did they select who to drop?

By how stupid the location the property was.

They held a LOTTERY.

No. They did not.

They just picked names at random and announced that these people would no longer be insured. Whether they ever had a claim or NOT.

No, they did not.

And other insurance companies followed suit. (It seems they only want to offer flood insurance for people who live on mountains.) People were left hanging, and mortgage companies were NOT HAPPY. People got foreclosure notices - not because they were behind on their payments - because they couldn't get insurance.

Banks foreclose because people don't pay their loans. When these people lost their houses they built in stupid places, they stopped paying for the property and just walked away.

Something had to be done.

Why? The banks were stupid enough to make those loans. They lost the money. Satisfied?

Capitalism failed, so Socialism had to pick up the slack (Ain't it always the story?)

WRONG. The properties are uninhabitable.

Two US States had to create government-run insurance companies. (REPUBLICAN States, no less!) Florida and Louisiana.

WRONG. Most States have similar insurance. There is nothing special about Florida or Louisiana.

That fixed it!

WRONG. The properties were uninhabitable.

And guess what they called them?

Citizens Insurance.

Yup. That's the name of the government insurance.

Ya can't make this stuff up.

You made a lot of stuff up. Guess you can.

Jim Dandy? Forget that. SOCIALISM to the Rescue...

Nothing to rescue. Government insurance isn't even socialism. You really have no idea what socialism is, do you?

[Into the Night]

the founders wrote some socialism right into the constitution
capitalism works GREAT when properly fettered

No, they didn't. Capitalism does not need to be fettered. It requires no government at all to function.

[Gonzomin]

No, they didn't. Capitalism does not need to be fettered. It requires no government at all to function.

Capitalism naturally goes from competition to oligopoly to a monopoly. Teddy Roosevelt was shocked by what monopolies, (actually some oligopolies too) would do to the American experiment. They were very dangerous because money is power and the wealthy were changing the country to make them richer and more powerful.

The only power that can stand up to that force is the government. We need the strong and involved government to keep American looking at all like it was intended to be. The founders chartered corporations. If a corporation did things that were against the public good, its charter could be revoked. How many corporations could survive with that as a standard?

[Into the Night]

Capitalism naturally goes from competition to oligopoly to a monopoly.

Nope. There's always someone to shoot the kneecaps off a monopoly. New competition is more maneuverable than an old dinosaur like that.

Teddy Roosevelt was shocked by what monopolies, (actually some oligopolies too) would do to the American experiment.

They do nothing. Monopolies don't last long. They are self destructive.

They were very dangerous because money is power and the wealthy were changing the country to make them richer and more powerful.

They are not dangerous at all. Monopolies tend to be self destructive. The only way a monopoly can stay around for long is by the government helping them to do so.

The only power that can stand up to that force is the government.

WRONG. Monopolies are self destructive. You can see it happening to Microsoft today. It happened to IBM before that and will happen to Google in the future (it's already started).

We need the strong and involved government to keep American looking at all like it was intended to be.

WRONG. Capitalism needs no government at all. It is the only system that creates wealth. It brings civilization out of the wilderness.

The founders chartered corporations.

so? I have too. Big hairy deal.

If a corporation did things that were against the public good, its charter could be revoked.

No need. The corporation will cease to turn a profit. It will go out of business.

How many corporations could survive with that as a standard?

Irrelevant question based on a void 'what if'.