Uk and some other countries have nationalised banks.uncle sam is going to do same.what is going to happen to good old capitalism?
by 
bagheera
ANSWERS: 5
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Its going bust! The problem with the banks that need nationalisation is GREED! They got greedy, too greedy. Instead of only helping those who could prove they could pay them back what they borrowed, they started loaning to everyone. Now Mr T no longer has a job and can not make his repayments, what happens? The bank reposes his house, but no one has the money to buy it!
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I think it's going to evolve into a semi-capitalist/socialist mix with governments holding the purse strings. We'll become more like China economically & they'll edge closer to us. I'm pretty sure we've seen the death throws of Regan/Thatcher style economics.
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Capitalism is dead. The only reason America can CLAIM to be Capitalist is because the mega-rich special interests are not internationally recognized as a government, nor do they bother with such things as the welfare of the people who work for them, the conditions of the roads, etcetera. They enjoy all of the benefits of being a government, such as the ability to dictate policy, with none of the drawbacks, like having to spend their money on things other than golden parachutes. As a result, the economic system is *technically* privately owned, but is in *actually* a government unto itself. The romanticized notion of Capitalism, that anybody with a good idea and a good work ethic can even make a living, is now a fiction. A delusion. "Good old" Capitalism is DEAD, and has been for almost thirty years.
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The banking system as a whole is not going to be nationalised. The banks that have failed due to poor management will be. Thus far the plan is to move the then national bank back into the private saector. Hopefully with a good lesson about capitalism learned.
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"Good old" capitalism was slain by the British East India company in the 1700s. The final nail in the coffin of "good old" capitalism in the US was driven by the headnotes of the Supreme Court case "Santa Clara County v. Southern Pacific Railroad".
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