Sioux City Journal

Don't sacrifice 'relevancy of capitalism'

Posted: Wednesday, January 07, 2009

SIOUX CITY -- Millions have lost their jobs and their homes. People are packing their belongings and with hope and with hugs and kisses they are saying good-bye to their friends and neighbors. They must now leave and go somewhere else to seek another home. In their desperation they want to cry as confusion reigns and they ponder the words, "Why did it all happen?" My only response is that capitalism misfired.

And there are others, some well-healed, who often call the shots on Wall Street and Main Street who also are confused, sometimes begging for that life raft . The law of supply and demand, the invisible hand and the principle of self-interest are supposed to weather the storms of capitalism. The question remains: Why did it all misfire?

Confusion occurs when politicians seem perplexed in this time of need. Many now turn to the vision of a new leader with plans to liberate us all from this misery. A promise exists that we must all join hands in our quest for solutions and we must hope as we listen to the voices of the past: An FDR admonishing his people that the only thing we have to fear is fear itself.

Surely hope still remains as we help those in need and we now know that change must take place. Hopefully the relevancy of capitalism as a freedom-loving nation will not be sacrificed because it has misfired. -- John Hejhal

Story Comments

To Keith wrote on Jan 8, 2009 10:27 AM:

" There is a Congressional Committee investigating Madoff. Yes, power, influence, and money always
impact law enforcement results. But, this is true whether capitalism is involved, or not. You can find "the best justice that money can buy" in any
U.S. city. "

TO BlueBlood wrote on Jan 7, 2009 10:09 PM:

" You should practice what you preach BlueBlood! "

Keith wrote on Jan 7, 2009 7:17 PM:

" You "conservative" financial experts are hilarious. A corporate CEO can bankrupt the entire world's economy with traitorous criminal intent and get no punishment, but let some ghetto dweller take $20 from someone to feed his kids and you would probably want to warm up the electric chair.

If the carcasses of Bernie Madhoff and about 10 of his counterparts were used to decorate the lightposts outside the stock exchange there would be far less risk on Wall St. We have somehow placed the corporation in a position of immunity to retribution. The message for future generations is to study hard to become a crook. The pay is about 100,000 times what a teacher or cop makes and the risk exposure is nil.

We can have thriving capitalism with rules that everyone must play by. As far as I have seen there are no investigations or plans for any in this "crisis". That is all too indicative of how American capitalism works. I bet those responsible aren't planning any trips out of the country soon. Some other nations might feel they have enough skin in the game to give them jurisdiction. "

BlueBlood wrote on Jan 7, 2009 10:46 AM:

" "Capitalism Misfires" What is your solution John, Communism? You could talk all day and never say a word. The next time you get a feeling like you had when you posted this comment, just type it, if it will make you feel good, and then hit "DELETE". Do not hit Send. "

Good Old Buddy wrote on Jan 6, 2009 8:13 PM:

" I would attribute our economic problems less to our mixed economic system (pure capitalism hasn't existed in the USA since the 1890s.), and more to large-scale ignorance, incompetence and greed in our private and public leadership. Is there any social, economic, political, or governmental institution that has not declined in the last two decades? You need good people to make any system work. "