Skip to main content


Image/Photo

#Texas grocery stores are empty. Does this mean that #capitalism doesn't work?


Imagine how it would have been if they were under #sanctions for the past 2 decades.
It sure means that JIT doesn’t work very well.
Capitalism works great for those with capital to deploy.
On average...
It depends on which "average" you're taking about. The distribution is heavily skewed. When we add someone like Jeff Bezos, whose net worth is north of a trillion dollars, to the mean wealth under capitalism is fabulous. Unfortunately, that mean wealth is concentrated in very few hands. If we look at the median or the mode as the "average", then capitalism fares much less well.
@John Hummel I didn't try to defend capitalism, just trying to be sarcastic. I know very well that the average (the mean) is one of the worst way to measure the level of wealth of a community, when the distribution is not symmetrical.
I'm sorry for misreading you, @Jean-Noël Avila. As you know, it can be hard to know when sarcasm is in play until one knows the person making the comment.
Damned straight, @Farhad. Texas is a between-the-eyes object lesson, and one that the capitalists are doing their level best to ensure that we don't learn.
Texas is the example of libertarian disaster capitalism.

The heaven for corporations and hell for citizens.

The polar vortex and the snow storm just uncovered the total failure of this system in taking care of all citizens and great exposure of market based de-regulation when people end up paying 2000 dollars per kWh of electricity.
@John Hummel my bad, Internet is too limited for permitting sarcasm in public.
Well, yea. The insurance companies are basically going to pick up the tab.
The insurance companies are basically going to pick up the tab.
Insurance companies NEVER pick up the tab. It ALL gets passed on to the buyer of future insurance and the increased rates for existing insured.

The 2005 Hurricane season in Florida caused my homeowner's insurance to go from about $210/year with a $500 deductible to $2,500/year with a $5000 deductible. This happened less than three months after the '05 Hurricane season ended.

Fortunately for me, my home is paid for and I was not required to have homeowner's insurance. I told the insurance company to get fucked.
I just got in my first at fault auto collision which only resulted in $1200 damage (after 25 years) with AAA. They raised my premium by $300 per year.
So I will be paying for the bumper.
Then they send me a bill telling me what a revered customer I am for paying up for 25 years.
LOL.
Insurance companies NEVER lose. They are "the House.