Capitalism has failed

The US has always been the leader of the free market system until the words "too big to fail" became a common saying. According to Jim Rogers there is no such thing as too big to fail. If a company fails, the competent takes over from the incompetent. This is how the system has always been designed to be. Unfortunately the elite has created these" too big to fail" monsters. They know that they can pretty much do anything including very risky investments since they know they are going to get bailed out.
If not, the entire financial system will collapse with them.

After the 2008/2009 financial crisis that shocked the world with many banks as well as AIG the world's biggest insurance company going bankrupt, the US government decided to bail them out with taxpayers money despite major protests from the public. Many economists like Marc Faber to name but one, believes that if the government allowed these companies to fail, the financial pain would have been severe at the time and possibly for the following three years, but the US would have been on its way to recovery by 2012/2013. Instead they decided to go into more debt. All the economic data suggests poor job creation, higher inflation with indefinate QE 3, future hyper inflation, the greatest depression and ultimately the inevitable collapse of the US dollar. Back in 2009 corporations were bailed out. Now in 2012, countries are being bailed out in Europe including the US. This is exactly what QE3 is all about. The global financial situation can only go down hill from here. Currently US debt has crossed the 16 trillion dollar mark and it is increasing with at least 40 billion dollars every month. This debt is not going to disappear. Unfortunately the next generation will have to pay. For the first time in US history, parents are better educated than their children. Sadly those fortunate enough to graduate from college have a less than 60% chance of finding a job for which they are qualified.

One can no longer term western economies as Capitalist since this is not what Capitalism is supposed to be. This is definitely not the free market system as it was meant to be and the noble intentions of the founding fathers of the US.

There was a believe that Capitalism was compatible with the teachings of the bible. I wonder what Jesus would say if he would return to earth today and see the current state of capitalism with all the scandals and corruption going on. What is needed is an honest money system based on some commodity which cannot be produced out of thin air, ideally gold and silver.

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