Bloomberg has conducted a global poll, and the results are not surprising. Uncontrolled capitalism is dividing the world into the 99% and the 1%. Just what the questions were we are not told, but the results indicate that a majority believe that income disparity is a major problem and should be solved by government. To Americans’ credit we were not so quick to recommend government action, where the rest of the world strongly supported that.
It is ironic that government action is considered necessary to fix capitalism, when it is government that has caused the problem. What we are being told is capitalism is just a variant of socialism, or crony capitalism. Economic bubbles are created by government in collusion with the Federal Reserve, failed banks are given preferential treatment and saved with taxpayer money, trillions of dollars are pumped into the economy, interest rates are kept artificially low, and the federal debt is ballooning out of control. This has nothing to do with free market capitalism. Too much government intervention is the problem.
““It requires government intervention on an enormous scale, because an economy cannot survive if it does not invest in the younger generation,” Derks said.” [Michael Derks, London broker]
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