As a record number of heads of state gather with business moguls in Davos, WSJ’s Andy Jordan wonders whether the World Economic Forum’s focus will be on finger-pointing or collaboration to halt the current global financial-markets slide.

1/27/2009

Category: Bailouts, Credit, Economy, Psychology, Regulation, Video

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4 Responses to “Davos: Is Capitalism, as We Know It, Dead?”

  1. km4 says:

    Yes and allow me to take this post from Angry Saver over at Calculated Risk that tells you why in clear and concise fashion….

    The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability.

    We certainly have had neither sustainable economic growth NOR price stability over the past ten years.

    We’ve had:

    Two stock bubbles & busts, a housing bubble & bust, a commodity bubble & bust, a private equity bubble & bust, a commercial real estate bubble & bust, a finance bubble & bust, a consumer credit bubble & bust and a wildly fluctuating currency.

    This is no way to manage an economy.
    The fed has failed. Utterly so.

    The fed’s concept of economic growth = asset inflation via debt expansion. Our financial system has become systemically corrupt. Our political system is now hostage to the financial system.

    What a sham(e)!
    Angry Saver | 01.28.09 – 3:19 pm |

  2. wunsacon says:

    Don’t overlook rampant fraud in the creation of both those bubbles. And the fact that voters voted the foxes into the hen house.

    What killed capitalism? The capitalists.

  3. wunsacon says:

    In any event, you can’t really kill capitalism. It’s been a part of every civilization, to greater or lesser degrees.

  4. davossherman@gmail.com says:

    Is there another link to this video? (I couldn’t view it) Thanks!