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which style of socialism.. national socialism or international socialism?
socialism as a economic model where the state controls all resources and production. it's failed every time. it failed in the former USSR. the only reason the CCP didn't also fail is that they realized by watching the USSR fail economically they were going to fail also and became "closet capitalists" in the late 70's.
"Following the receiverships of Silicon Valley Bank and Signature Bank, there were outflows of uninsured deposits at a small number of banks. America’s financial system is among the best in the world, and America’s banks – large, midsize and community banks – do an extraordinary job serving the banking needs of their unique customers and communities. The banking system has strong credit, plenty of liquidity, strong capital and strong profitability. Recent events did nothing to change this"
SVB failed because it was a venture capitol investment bank. it was not a typical commercial bank where John Smith opens a checking account. the average banking customer wasn't affected. their "customers" were investment firms and some high net worth individuals.
Signature Bank got involved in crypto and a large factor in their collapse is a ripple effect from FTX failing. it caused their account holders to panic and withdraw their funds while their crypto assets had lost a lot of value. Signature bank it was reported didn't have a chief risk officer for 9 months prior to their failing.
very few commercial banks will touch crypto for this reason, too volatile. as the above statement says, the vast majority of banks especially commercial banks are well run with solid assets. these two banks were poorly run and had bad investment models.
also the rise in interest rates was a huge factor in these two banks, given their investments were far riskier than almost all other types of banks.
socialism as a economic model where the state controls all resources and production. it's failed every time. it failed in the former USSR. the only reason the CCP didn't also fail is that they realized by watching the USSR fail economically they were going to fail also and became "closet capitalists" in the late 70's.
wait... CCP closet capitalists or closet fascists? in the late 70s?
they only liberalized their economy in the mid 1990's after USSR collapsed.
wait... CCP closet capitalists or closet fascists? in the late 70s?
they only liberalized their economy in the mid 1990's after USSR collapsed.
the seeds were planted in the late 1970's in Shenzhen and Shanghai.by the late 80's they already had opened some markets up to western style investment and companies.
Shenzhen was declared a special economic zone in 1980, a decade before the USSR finally collapsed. China saw the failures of pure socialism coming long before the USSR failed.
Billboards of high-rise construction in Shenzhen, 1982
In May 1980, the Central Committee designated Shenzhen as the first SEZ in China,[17][34] which was promoted by then-paramount leaderDeng Xiaoping as part of China's "reform and opening-up" reforms which were set up a year previously.[35] Its objective is to be an experimental ground for the practice of market capitalism within a community guided by the ideals of "socialism with Chinese characteristics".[36][37][38] On 26 August, the Standing Committee of the National People's Congress (NPC) approved the "Regulations of the Guangdong Special Economic Zone."[39] Under these regulations, Shenzhen formulated a series of preferential policies to attract foreign investment, including business autonomy, taxation, land use, foreign exchange management, product sales, and entry and exit management. Through the processing of incoming materials, compensation trade, joint ventures, cooperative operations, sole proprietorship, and leasing, the city has attracted a large amount of foreign investment and helped popularize and enable rapid development of the SEZ concept.
the seeds were planted in the late 1970's in Shenzhen and Shanghai.by the late 80's they already had opened some markets up to western style investment and companies.
Shenzhen was declared a special economic zone in 1980, a decade before the USSR finally collapsed. China saw the failures of pure socialism coming long before the USSR failed.
URL="https://en.wikipedia.org/wiki/File:Shenchen_in_1982.jpg"]IMG]https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Shenchen_in_1982.jpg/220px-Shenchen_in_1982.jpg[/IMG][/URL]
Billboards of high-rise construction in Shenzhen, 1982
In May 1980, the Central Committee designated Shenzhen as the first SEZ in China,URL="https://en.wikipedia.org/wiki/Shenzhen#cite_note-szmc2-17"][17][/URL]URL="https://en.wikipedia.org/wiki/Shenzhen#cite_note-Newsweek_IS_Fish-34"][34][/URL] which was promoted by then-URL="https://en.wikipedia.org/wiki/Paramount_leader"]paramount leader[/URL] URL="https://en.wikipedia.org/wiki/Deng_Xiaoping"]Deng Xiaoping[/URL] as part of China's "URL="https://en.wikipedia.org/wiki/Chinese_economic_reform"]reform and opening-up[/URL]" reforms which were set up a year previously.URL="https://en.wikipedia.org/wiki/Shenzhen#cite_note-35"][35][/URL] Its objective is to be an experimental ground for the practice of URL="https://en.wikipedia.org/wiki/Market_capitalism"]market capitalism[/URL] within a community guided by the ideals of "URL="https://en.wikipedia.org/wiki/Socialist_market_economy"]socialism with Chinese characteristics[/URL]".URL="https://en.wikipedia.org/wiki/Shenzhen#cite_note-36"][36][/URL]URL="https://en.wikipedia.org/wiki/Shenzhen#cite_note-37"][37][/URL]URL="https://en.wikipedia.org/wiki/Shenzhen#cite_note-Economist-38"][38][/URL] On 26 August, the URL="https://en.wikipedia.org/wiki/Standing_Committee_of_the_Nati onal_People%27s_Congress"]Standing Committee of the National People's Congress[/URL] (NPC) approved the "Regulations of the Guangdong Special Economic Zone."URL="https://en.wikipedia.org/wiki/Shenzhen#cite_note-39"][39][/URL] Under these regulations, Shenzhen formulated a series of preferential policies to attract foreign investment, including business autonomy, taxation, land use, foreign exchange management, product sales, and entry and exit management. Through the processing of incoming materials, compensation trade, joint ventures, cooperative operations, sole proprietorship, and leasing, the city has attracted a large amount of foreign investment and helped popularize and enable rapid development of the SEZ concept.
i'm sure we all know how much ecky9.5k wants to believe the "Socialist Utopia" dream. and it is a dream, for the lowest common denominator to be "equal" to the highest earners. his dream is for everyone to make next to nothing, have nothing, live in Government housing, get their Government bread, cheese and bologna and call that "equality" while no one has any incentive to do anything more than exist and the dream collapses in the face of pure unadulterated capitalist greed of the West.
your beloved socialist utopia is a failed concept.
i'm sure we all know how much ecky9.5k wants to believe the "Socialist Utopia" dream. and it is a dream, for the lowest common denominator to be "equal" to the highest earners. his dream is for everyone to make next to nothing, have nothing, live in Government housing, get their Government bread, cheese and bologna and call that "equality" while no one has any incentive to do anything more than exist and the dream collapses in the face of pure unadulterated capitalist greed of the West.
your beloved socialist utopia is a failed concept.
VitaMan states it fails every time. He's not the one you're after. Greed and stupidity are why it's okay to be angry at Capitalism.
VitaMan states it fails every time. He's not the one your after. Greed and stupidity are why it's okay to be angry at Capitalism.
you do know VM claims to be ... "independently wealthy" from trading on the market, yeah? i'm pretty sure he's not against capitalism .. if you believe his story.
and everyone should be against stupidity .. especially socialist stupidity.
you do know VM claims to be ... "independently wealthy" from trading on the market, yeah? i'm pretty sure he's not against capitalism ..if
you believe his story.
You seem to be stuck in the past also Waco.
And you are on this site non stop, stuck in a cartoon world. A very odd individual.
