mnottertail
Posts: 60698
Joined: 11/3/2004 Status: offline
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quote:
ORIGINAL: DesideriScuri quote:
ORIGINAL: Musicmystery Nothing had a bigger impact than this: - gee, it's double digit inflation. Let's put all our investment into short term cash. People will buy the cars we make -- they have to. Meanwhile, in Japan, Sweden, Germany, Korea, they were saying this: - let's plan for the long term. We'll live with 6% return now, even though others are getting double digits. We'll build the cars people want that right now aren't being made -- especially fuel efficient cars. Now, Detroit always could have made those cars. But they didn't want to retool. By the time they did, their market share had shrunk dramatically, and they had serious competition from that day on. Blaming the UAW or blacks (as another poster did) isn't the primary reason. It was a one industry town, and that industry made an arrogant business mistake. And, what happened to that one industry? Free Market Capitalism has 2 things that are absolutely vital to it working properly: ability to profit, and ability to lose. Take away one, and you no longer have Free Market Capitalism. And, it doesn't matter which one you take away. there has never been any free market capitalism on the face of this earth. past; present; future, you have had and to a great degree in this country now, laissze faire capitalism, but one is real the other one is hallucination.
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Have they not divided the prey; to every man a damsel or two? Judges 5:30
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