Comments by "Harry Mills" (@harrymills2770) on "China Dumps US Debt, Fearing a Capitalist Armageddon|Richard Wolff" video.

@aneurindavies5943 Runaway government spending is not a feature of capitalism. It's a feature of socialism and its fascist cousin.
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I understand everything you're saying, but nobody listens to me. They all want their free stuff, and think this sort of nonsense can go on forever.
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@danielhutchinson6604 The USA is pretty self-sufficient in resources. So is Russia. We don't NEED to be imperialists and our people don't WANT to be imperialists.
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I'll have to listen to the end, but it sounds like he's proposing socialism as economically superior to free-market capitalism. The failures of the U.S. system are not due to free-market capitalism. They're due to crony capitalism, which is just another way of saying fascist economics.
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@DragonYang01 The U.S. hasn't yet started just printing money. It sells bonds, which are basically promissory notes, which keep the illusion going a bit longer.
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@kko-punch7059 China is rife with corruption. The only thing that makes China even a little bit competitive with the USA is the USA's departure from free markets and limited government.
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@GlobalDrifter1000 Ronald Reagan actually put us on a trajectory to balance budget 7 or 8 years after he left office. He understood that the only way out was to revitalize the economy. The Laffer Curve is real. You don't tax your way out of debt. Unfortunately, after maybe a year or two of balanced budgets, spending started accelerating far beyond the growth of revenues. Wars abroad, but also the welfare state. Before you think I'm a Reagan fan, I'm not. He was an FDR Democrat, who was just as in love with the power of government as FDR was.
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