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Saturday, October 4, 2008

Here is what it is like.

The economic crisis of capitalism in the 1930's forced the capitalists themselves at that time to bring in some regulations to try and give some stability to their system and to make a few very meagre concessions to the working class to keep it from becoming too radical. Since the early 1970's these concessions and regulations have all been eroded. Self regulation has been the big buzz word. What is self regulation? This is like a mugger saying to the legislators and the legal system: "Do not pass or enforce any laws to stop me mugging. I will regulate myself." And this is what happened. Capitalism was allowed to regulate itself. The result is the present threatened collapse of the entire capitalist system. 

Now these muggers who have been demanding self regulation are running for a bail out. Look at what happened. Because of the pressure of the working class and the contradictions of their own political system they could not get the $700 billion bail out passed at the first try. So they came back a second time and this time they added on $140 billion in bribes to the politicians to get it through. 

Capitalism is a totally corrupt system. It does not work. Every few decades it has to be bailed out. It leaves billions of people starving for all of their short lives. It can only exist through a policy of continual war. It has to be condemned and overthrown. 

All the financial institutions should be taken over, nationalized, taken into public ownership under workers control and management. This would allow the capital to be used for productive purposes and to build a good life for all. Letting these swindlers in Wall Street and their bought and paid for politicians in Washington control things must end. They have brought their own system to a state of collapse. They have forfeited all right to rule. 

Sean

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