Thinking About Capitalism

Sometimes one actually thinks, I know that is a surprise. This quote from Charles Smith's blog led me to think. 

There are two real-time examples of these dynamics we can profitably study: "capitalist" Greece and "socialist" Venezuela. Both nations have impoverished their citizenry to preserve an oligarchy and its cronies.

I hope it won't be too great a shock that crony-capitalism and crony-socialism function in much the same fashion and generate the same result: the wealth of the nation is funneled (or expropriated) into the ruling Elites, impoverishing the non-elites.

But the meme is socialism bad, capitalism good, and the proof is Venezuela. Nah, not so much. Something is going to have to be done about the huge debt of the Western World. Greece is a good example of that debt. Almost no one is talking about this. They will, soon.