Crisis of Capitalism

[30ashopper]

RSA Animate ? Crises of Capitalism | The Mess That Greenspan Made

Fascinating way to present things. I learned a few new things from this, for example I had no idea the deduction on housing was originally designed to prevent union strikes. Anyway, anti-capitalist progressives will love his arguments! Enjoy.

 

[futurebeachbum]

Fascinating way to present things. I learned a few new things from this, for example I had no idea the deduction on housing was originally designed to prevent union strikes.

I was talking to my Dad (who is 87) the other day and he said that his father purchased a house in Richmond, Va in 1916 for $1800. $300 down and $25/month for 5 years. That was a no interest loan. I guess mortgage interest wasn't a big thing back then. Having the fully paid for house helped them a lot during the depression.

In the U.S, Credit Unions were supported by companies for similar reasons. An employee in debt to the credit union is a lot more stable employee and in many cases credit unions would make loans to them when local banks would not.

 

[DuneAHH]

Thx! Very interesting presentation.

I am not (nor do I desire to become) a Marxist. However, "Changing Our Mode of Thinking" is a worthy challenge.