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June 1st, 2009
06:00 PM ET

Is American capitalism dead?

FROM CNN's Jack Cafferty:

American capitalism is disappearing with "barely a whimper" from the public - according to the online edition of the Russian news agency Pravda. They write that the U.S. descent into Marxism is happening with breathtaking speed.

First they say the population was dumbed down through a substandard education system based on pop culture - instead of the classics. They write Americans' faith in God was destroyed until its churches became little more than "Sunday circuses."

And, Pravda says the final collapse came with the election of President Obama - who has been spending and printing money at a record pace. They also mention the president's desire to redesign the tax system and cap executive salaries; and note how he forced the former CEO of General Motors to step down.

Speaking of GM, President Obama announced today that the government will become a "reluctant shareholder" when it assumes a 60-percent stake in the new auto company. President Obama insists he has no interest in running GM.

Nonetheless, the government's stake in GM comes after a much smaller ownership of Chrysler - along with significant federal equity in banks, the insurance giant AIG and two mortgage industry giants. Not exactly old-school capitalism.

Republicans say the government is "firmly in the business of running companies using taxpayer dollars," and question how Washington bureaucrats can make a huge corporation profitable. They want the administration to explain its exit strategy.

Here’s my question to you: Is American capitalism dead?

Interested to know which ones made it on air?

Lou writes:
Walmart is an American company and it's kicking butt right now. So is McDonald's – another USA kid. While other companies are struggling, the demand for lower cost goods rised and these companies thrive. At different times in our history, different companies rise and fall, depending on the needs and greeds of the times. That's called capitalism.

Patrick writes:
Hysteria. Hyperbole. The fearful twins of a population unsure of our economic future. I'll wait patiently and listen to calmer minds than Pravda, thank you very much.

Thomas writes:
Yes, Jack, capitalism is dying quickly. To paraphrase Kruschev, our grandchildren will indeed live under socialism. We have tiptoed our way through diminishing standards – of learning, of behavior, of speech – and now it's time to pay the piper.

Sam from Chicago writes:
This is a silly claim. American capitalism is alive and well, and Barack Obama's monetary and fiscal policy is only ensuring that capitalism's heart is still beating strong. Printing more money is nothing new, and is simply a tool to help expedite the recovery. As long as there is competition and people still strive for the "American Dream," American capitalism is very much alive.

Ray from Danville, Virginia writes:
With his Royal Highness in charge, a willing Congress and a mute news media, who is going to stop the march to Marxism? The people have been properly indoctrinated by our liberal public schools and colleges of higher learning so the time seems to be right. I fear what the results will be but the people have found their messiah and they are willing to follow his voice into the wilderness.

Dale writes:
No, Jack. It is in the shop being repaired. The former driver pushed it too hard, for too long, and without changing the oil or getting a tune-up.


Filed under: Economy
soundoff (300 Responses)
  1. Remo .............. Austin, Texas

    Sadly, Pravda is right. How's that for you, getting the straight news, from a Russian paper.

    June 1, 2009 at 3:42 pm |
  2. Pete (St. Louis, MO)

    No it's not dead it just needs to go to rehab. A little adult supervision might not hurt either.

    June 1, 2009 at 3:45 pm |
  3. Hubert Bertrand Oberlin La.

    OUR Politicians are so jealous of the CEO's making big money.They want to run the companys themselfs.They buy auto parts from overseas. Then expect the american people to buy the autos.Taking away the jobs from the american and giving the jobs to chine will not help us. Why can't they see that, Keep the jobs here and we can buy american,goods

    June 1, 2009 at 3:45 pm |
  4. Cheryl

    Since when do we take our news from Pravda? We know it is the Russian propaganda arm.
    If a companies biggest shareholders are the US taxpayers, we have every right to have a voice in the form of our President. In fact, he would be negliable if he didn't.
    The Republicans want to question the ability of the government to make these companies profitable? Well, it's sure been proven that the prior CEOs couldn't!

    Cheryl
    Houston

    June 1, 2009 at 3:48 pm |
  5. Katiec Pekin, IL

    It may be for now as what we are in is a survival mode.
    Since when do we listen to or give Russia the headlines on what
    they think about our country? And the republicans after what they have done to us these last eight years?
    There are many more CEO's that should step down due to greed and mismanagement. If they lived in Russia and pulled what our financial institutions have done, they would all be in Siberia.
    Must be a very slow news day, Jack. No one is filling in for you,
    are they??

    June 1, 2009 at 3:52 pm |
  6. John in LA

    Does Pravda think the stock market has disappeared, Jack? There is nothing that says "capitalism" than the U.S. stock market.

    And what about the oil companies? Are the nationalized so that I only pay $.50 a gallon? And hospitals are all non-profit, working only in the public interest at prices everyone can easily afford, right?

    Pravda may think Americans are dumb, Jack. And we may be. But at least we're not as dumb as the authors of that drivel. The answer to your question, in one word: "Nyet".

    June 1, 2009 at 3:52 pm |
  7. Michael "C" Lorton, Virginia

    Jack: Capitalism will never die--it is just reorganizing--when you can cure "greed"--then capitalism will die-–and right now--I don't see that in the future-–it is the nature of who we are.

    June 1, 2009 at 3:53 pm |
  8. K

    Dumb question. There is no such thing called "made in America by Americans" anymore. All of our jobs are being outsourced, Try calling about a credit card, computer, TV, appliance and practically anything else in your home and you are connercted to someone in India, the Phillipines, malaysia and who knows where else.plus Chrysler is being sold to the Italians, etc etc and no one is doing anything to stop this train wreck.

    June 1, 2009 at 3:54 pm |
  9. Chuck

    The notion of capitalism cannot truly exist without a free market.
    One cannot have a free market with monopolies (see Intel & Microsoft),
    price fixing and collusion (see big oil and Dick Cheney), bribery
    (see Duke Cunningham and Rod Blagojevich), and outright thievery
    (see Madoff and Stanford).
    If they represent capitalism, then I say good riddance.

    June 1, 2009 at 3:54 pm |
  10. Melissa

    I doubt it. Too many Americans still idolize and idealize the Republican mindset for it to be dead. But it may have changed a bit. I hope.

    June 1, 2009 at 3:55 pm |
  11. Wanda Faye Carter

    Big Business killed capitalism with greed and selfness

    June 1, 2009 at 3:56 pm |
  12. Tomasz

    Greetings Senior Cafferty:

    The ideology of American Capitalism makes it so that it will collapse.

    The ideology is such that there must always be growth and consumption. What will happen if there is no more raw material to furnish the consumption? The system fails.

    June 1, 2009 at 3:56 pm |
  13. Dennis, Columbus, Ohio

    Not even close.
    Some reporters in other countries are taking the comments from the far right conseratives as reality.
    In back rooms and off the record those on the right would admit that these are only talking points to generate fear.

    June 1, 2009 at 3:56 pm |
  14. Dioganise in a greek restraunt in Reno

    It may not be dead, .....but..... it sure needs
    to be hospitalized.

    June 1, 2009 at 3:57 pm |
  15. happy girl

    It's not dead yet, but it's dying and there are no efforts to save it.

    June 1, 2009 at 3:58 pm |
  16. Paul S. Columbia, SC

    So far the Russians have it dead on. Stand by Ivan. The coming revolution by a fed up citizenry is going to be a thing of Constitutional beauty.

    June 1, 2009 at 3:59 pm |
  17. Lou

    Walmart's an American company and it's kicking butt right now. So is McDonald's...another USA kid. While other companies are struggling, the demand for lower cost goods rise, and these companies thrive. At different times in our history, different companies rise and fall, depending on the needs and greeds of the times. That's called capitalism.

    June 1, 2009 at 3:59 pm |
  18. Darren

    Bush sure got the socialism ball rolling with the Fannie MarFreddie Mac and Wallstreet banker bailouts.

    June 1, 2009 at 4:00 pm |
  19. David Bebeau,Springfield Missouri

    No its not dead.However it would be helpful if our do nothing serve self first congress had the courage to stand up to the criminals
    on Wall Street.But so sorry they can not do that because the lobby lines their pockets and Chris Dodd proved that.And ALL of those MILLIONS in bonus got paid...............you bet'cha.
    David

    June 1, 2009 at 4:00 pm |
  20. john

    Capitalism isnt dead yet, but well on its way out the door. Many people in America, myself included, still believe in success and working for yourself. As long as this is the case capitalism will still be here, contrary to the wishes of our communist president and slanted propaganda machines such as CNN, etc.
    BTW our government pressing such unwanted agenda onto the public is transforming our democracy into a tyranny, and how could anyone want to live in such a state? Sometimes i wonder what you guys at CNN, Fox and the rest of them are getting out of it. Whats your reward for spreading such devious deliberations upon the dumbest masses in our great land?
    Thats the real question i have for this "news organization".

    June 1, 2009 at 4:02 pm |
  21. Mike, from Florida

    If American capitalism dies, America dies...and American certainly ain't dead yet.

    June 1, 2009 at 4:02 pm |
  22. Don (Ottawa)

    Is American Capitalism dead – hell no! What may be dying though is favoritism, cronyism, and corporate riches for the favored few, all paid for by the consumer.

    June 1, 2009 at 4:06 pm |
  23. keenoma

    It is worrisome when other countries are scared the USA is moving towards socialism.

    Who is John Galt?

    June 1, 2009 at 4:07 pm |
  24. Gabriel from Hartford, CT

    Rest in Peace and good riddance!

    June 1, 2009 at 4:07 pm |
  25. Tony from Torrignton

    American capitalism has suffered a devastating blow, but if Americans are smart in 2010 and 2012, we can revive it with a change of administration and balance of power. For those who have a problem with capitalism, remember that as a capitalistic society, we are one of the most generous and giving countries in the world because we have the wealth to do it. Without the wealth, many other countries and needy organizations will suffer, especially when the president takes away the tax benefit for donations.

    June 1, 2009 at 4:08 pm |
  26. Alex (CT)

    Jack, apparently you've never seen "The Princess Bride." If you had, you'd probably remember Billy Crystal's famous conversation with Mandy Patinkin:
    -"It just so happens that your friend here is mostly dead. There's a big difference between mostly dead and completely dead. Mostly dead is slightly alive. With all dead, well, with all dead there's usually only one thing you can do.
    -What's that?
    -Go through his clothes and look for loose change.

    June 1, 2009 at 4:09 pm |
  27. Dan Schaffer

    If it isn't dead, it certainly is pretty sick right now. The problem is that the government, and sadly much of society, refuse to accept that some type of risk is required to be successful. Nobody ever has to pay for their mistakes – from Wall St. brokerage houses that over-leveraged themselves on risky sub-prime financial instruments to GM and Chrysler who negotiated bad labor deals and put forth inferior vehicles. We should have let the banks/brokerage houses go under (really, is anyone saying we have too FEW banks out there) and let the Big 3 fight to compete like everyone else.

    June 1, 2009 at 4:09 pm |
  28. Chris in Philadelphia

    Yes. But this isn't because of Obama's actions. For years, companies have had little regulation (AIG, Lehman Bros), made dreadful business decisions (automakers) and spent more money than they made (average consumer with huge debt). This was unsustainable. Just like bluffing in poker... you do it enough you will get called on it and lose. The capitalism of the last 10 to 20 years lost and is gone.

    June 1, 2009 at 4:12 pm |
  29. Linda in Arizona

    I hope we are heading more toward democratic socialism. Real capitalism is based on greed. What does any of it have to do with "Marxism"? That's crazy.

    June 1, 2009 at 4:12 pm |
  30. Lance Schumacher

    Maybe not "dead" yet, however, I agree with Pravda. The nation is on a downward spiral, possibly a death spiral, into the pit of a Socialist economy run totally by the Government. At this point, I cannot see how this spiral can be stopped as long as Obama remains popular and the Congress continues to fund his insanity. Printing money to cover bad decisions, taking government control of private companies because "they are too big to fail" and riding a wave of irrational popular support looks, feels, and acts like Lenin and Red October. Marxism, socialism, whatever it is, it definitely is NOT American Captialism.
    Lance, Ridgecrest, Ca

    June 1, 2009 at 4:13 pm |
  31. Brad Tinkham

    If American Capitalism is dead it wasn't murdered – it commited suicide. I spent over thirty years in or near the auto industry and can state that without a doubt, it suffered from mangerial atrophy for most of that time. If Henry Ford, Walter Chrysler, and their contemporaries "didn't do it we won't do it now" New ideas were not welcome. Lee Iacocca tried but even he couldn't budge their refusal to accept change. GM & Chrysler got what they deserved. Ford woke up a couple of years ago and might make it. At least they won't have to sell a "congressionally" designed car which will be a certain failure.

    Brad Tinkham – Hershey, Pa.

    June 1, 2009 at 4:14 pm |
  32. Trueman, Ontario, Canada

    Oh dear God I hope so.
    Bobby Jindal, GOP hopeful, said "In America, you can do ANYTHING"
    Yep, anything...
    Go bankrupt from medical bills.
    Lose your savings to greedy Wall Street fatcats.
    Buy a house you can't afford, getting evicted months leater.
    Go to war with an innocent, if annoying, middle eastern oil producer.
    Own assault weapons to keep England from taking over.

    Maybe it's time for something new that benefits everybody, not just those who stand on the backs of the minimum-wage poor.

    June 1, 2009 at 4:16 pm |
  33. Pugas-AZ

    I have to agree with much of what Pravda had to say. If they can see the problems why can't we. Have we become so lazy and disinfranchized that we no longer have the will to move forward as a country? I'm afraid it is going to take drastic events to change things around. It could get real nasty. Do we have the resources to once again lead on the world stage? That's highly problematical.

    June 1, 2009 at 4:18 pm |
  34. Mike of Hot Springs.

    American Capitalism is dead as we have know it and that is not so bad. We really screwed it up. Perhaps it is time to take a look and refine our entire system.

    June 1, 2009 at 4:20 pm |
  35. KarenB, centralFlorida

    the descent is happening at "breathtaking speed" .- you betcha – .. socialism, etc...and to all of those who voted for someone that they "knew would not be planning that"
    well, guess what folks – welcome to the real world..."can you hear me now?"

    June 1, 2009 at 4:21 pm |
  36. Kevin in CA

    American capitalism is not dead, but unfettered globalization and disproportionate trade are.

    June 1, 2009 at 4:21 pm |
  37. Geri - Mead, OK

    Yes Jack it is. The Marxist's dissidents of the sixties are running the show now and it looks like the so-called participants in the organization called The Students for a Democratic Society that was so popular back in the sixties and seventies have finally ended their long sit-in or has it been a march? Kruschev predicted what Pravda said. You have to applaud them for their patience. What a mess.

    June 1, 2009 at 4:22 pm |
  38. Pam

    We should pray that Capitalism is NOT dead, because if it is, so is this nation. This nation ONLY survives on Capitalism and the revenues and taxes which come from business and industry. We need entreprenuers, we need to move industry back into this country, we need to slow down imports and raise import taxes, and of course, start charging a higher export fee on the products and services we send to oil producing nations-trade dollar for dollar, food for oil. Let's take care of the store here, instead of giving it away abroad.

    June 1, 2009 at 4:24 pm |
  39. Border City Canadian, Windsor, ON

    Yes, Jack, American capitalism is dead. Government support and intervension smacks of socialism. Not that I think socialism is bad/wrong...hey, we've been living with it for years in Canada. Sure is a comfortable feeling knowing that if all else fails the government (taxpayers) will take care of us.

    June 1, 2009 at 4:25 pm |
  40. James in TN

    It's not dead just nobody has that kind of money. When Donld Trump starts cutting back then, you know people are broke.

    June 1, 2009 at 4:26 pm |
  41. D. in NH

    No, it's not dead but it's certainly heavily limping. This started decades ago when greed started "ruling" many corporations and even the existing financial laws were not enforced. The SEC really dropped the ball on that one. On top of that, many people spent more than they could afford on everything from clothes to houses. Many in the American public got complacent and really thought we were entitled to basically anything we wanted without consequences. Just goes to show you what happens when the wallet strokes the ego.

    June 1, 2009 at 4:26 pm |
  42. dave

    Jack, no but it's on life support.

    June 1, 2009 at 4:26 pm |
  43. BJ, Columbus, GA

    As we know it, probably. But, then, they are lots of forms of mixes of capitalism and socialism that may fare better for our country in the long run.

    June 1, 2009 at 4:27 pm |
  44. Andy in Vancouver, BC

    The unchecked American Capitalism is dead, but not American Capitalism altogether. I think we'll have capitalism for a while, but with more government oversight, which is the smart way to do it. The old days of letting CEOs do as they please and rewarding them with tax breaks is what got us into this mess, its time they have someone looking over their shoulders.

    June 1, 2009 at 4:28 pm |
  45. DON IN WESTPORT, MASS.

    Who would know better than Russia? Of cousre that is where we are heading. The termites, the goverment that it, is eating slowly at the very foundation of our freedoms. They are doing it so slowly that we will not be aware of it until the house falls.
    Maybe the next thing that goverment can do is build row houses just outside the GM plants for the GM workers to live in and impound thier pay for rent.
    I think American capitalism will end when the American goverment wrenches our weapons from our hands. That might be right around the corner if we don't smarten up.

    June 1, 2009 at 4:29 pm |
  46. george

    I sure hope so !! It is time for the country to realize that Capitalism is the cause of the situation we are in today. Does anyone really know what a Capitalist is? A Capitalist is someone who gets up in the morning, has his breakfast, and coffee, and then sends his money off to work for him, unlike us who get up in the mornings, have our breakfast, and coffee, an send out poor butts off to work for this Capitalist. Sounds about right don't you think?

    June 1, 2009 at 4:30 pm |
  47. Will C., New Orleans

    I'd rather the taxpayer's money be used to save major American companies such as GM than to have taxpayer monies fund undeclared wars for the benefit of corporations such as Halliburton.
    The Republicans have no long term memory.

    June 1, 2009 at 4:30 pm |
  48. andyz Lynn, MA

    Jack, American Capitalism is on life support with Republican NeoCons demanding the plug be pulled so that they can infuse 'we lessers beings' with their version of the Rape of the U.S.A. The Democratic Party is trying to save the Union by leading us all down the road to socialism. Starting with America's Greatest Generation and all subsequent generations, our lack of interest, our non-caring as long as its not me attitude, our refusal to get involved, our persuit of wealth and personal satisfaction/gratification rather than an interest in "the common good' have brought us to where we are today. I'll go say a rosary. Only devine interventiion can save capitalism.

    June 1, 2009 at 4:31 pm |
  49. bob from Cleveland

    In the darkest times of our country capitalism begins to thrive. In the 20"s more new invative businesses and inventions were born. Now in this ressesion people are getting back to basics and many are taking the plunge into starting their own businesses. I myself along with my wife and step-daughter are in the beginning stages of combining our resourses to offer cake baking,photograhy and ministorial services all wrapped up in one.
    We are American's that makes us surviors and we will rise from this a more stronger and united country.

    June 1, 2009 at 4:32 pm |
  50. Thom Richer

    Nah. Its just run out of ways to corrupt without being discovered. Once we, the people, again accept what corporations and its croney Congress has done to ruin the American way of life, it will continue to serve the few and pacify the many as it has for so many decades. Corporate and government greed went just a little too far and will tone it down for awhile with false promises again, adjust their methods of deception and lull the public back to a quiet acceptance of their control.

    Thom Richer
    Negaunee, MI

    June 1, 2009 at 4:32 pm |
  51. Mark

    Depends. Pure free market capitalism has been dead a long, long time. Quasi-capitalism (the type where companies go to bed with governments to pass regulations that prevent competition) collapsed when the Federal government put taxpayers money into the banks and refused repayment offers by many of them. The Federal governments 70% ownership in GM is the final nail in the coffin for what Truman's vision was. The government picking and choosing what resource (company or industry) they deemed most important and nationalizing it. In that case, yes capitalism is dead. And that isn't a good thing.

    June 1, 2009 at 4:33 pm |
  52. Jerry Jacksonville, Fl.

    No Jack but the employees of GM need to quit whining about losing their jobs, They've lived the good life for a long time, had vacations, insurance, high wages and retirements paid for them, now that is coming to an end and they can join the rest of the working men and women in the country and pay for most of those benefits themselves. They are acting like they are the only ones that has lost their jobs, they had better get used to an entirely different life style and join the five or six million workers that have lost their jobs the past year and a half.

    June 1, 2009 at 4:33 pm |
  53. Jay in Texas

    The free enterprise system is dead, Jack, but corporate fascism is alive and well in the United States.
    Brownwood, Texas

    June 1, 2009 at 4:35 pm |
  54. oz Gig Harbor WA

    Capitalism allows ANYONE to fail. So, where does that leave us?

    June 1, 2009 at 4:37 pm |
  55. Scott Stodden

    No Jack I dont think American capitalism is dead, its just on hold or in a down period right now. Yes President spends lots of money but we have to remember who got our nation into this mess in first place and it was not President Obama. I beleive eventually soon because I love my country and my President that we will rebound from this recession but capitalism is not dead by a long shot.,

    Scott Stodden (Freeport, IL)

    June 1, 2009 at 4:38 pm |
  56. Ronald Holst

    It Died along time ago when the Neo cons deregulated every thing .Up To and including any over site if the Executive branch it all died when Greed took over .
    Ron Holst
    San Antonio,TX.

    June 1, 2009 at 4:40 pm |
  57. Dennis North Carolina

    no, it needs a guiding hand.

    June 1, 2009 at 4:41 pm |
  58. bobwhite in Kansas

    God, I hope so! I'm not opposed to Capitalism in the textbook, but I'm definitely opposed to "American" Capitalism. "American" Capitalism is the basic reason our country was attack on September 11. Basically, it is totally corrupt; and always has been from the days of slavery through the contenental expansion, the monopolies, and right on up to and including today. An essential element for public protection and common good is the necessary comprehensive governmental regulation of American Capitalism. American Capitalism has no tolerance for fair and balanced interests. American Capitalism is concerned only with huge profits. Buyer Beware!

    June 1, 2009 at 4:41 pm |
  59. Michael Sullivan from Lafayette, California

    Jack - Unfortunately, American capitalism, the mechanism used by greedy capitalists to take for themselves without the thought of others, is
    not dead, since the big money and power still resides in the hands of the
    few - and what does Pravda have to brag about, since the Russian mechanism is much worse than ours - Lenin is probably rolling over in his grave as we speak.

    June 1, 2009 at 4:42 pm |
  60. Derek Wayne, NJ

    unfortunately it is. into the mouths of socialism we march.

    June 1, 2009 at 4:44 pm |
  61. Jim from Chicago

    American capitalism is on its death bed, but not for the reasons that Pravda cites. Over the past 20 years, capitalism has secummed to the greed of an oligarchy of mega-corporations that are not the least bit interested or subject to real competition. Think about banks too big to fail, AIG, big oil, big pharma, big corporate agriculture, big media - the FTC has become a joke. Any company too big to fail should be broken up into companies that aren't.

    June 1, 2009 at 4:44 pm |
  62. Pat from Michigan

    No capitalism isn't dead........but doing business as usual is. This unfortunately is one big wake up call to all Americans that you need to be responsible and make wise decisions in business matters or the business will fail. The auto industry got out of control years ago with big union contracts that included healthcare to it's retirees. The rising costs of healthcare played a major role in bringing down the auto industry among other industries as well. Once we tackle the healthcare problem a lot of the pieces will fall in place. Capitalism is not dead and ten years from now this country will be much better off because of the decisions President Obama makes now.

    June 1, 2009 at 4:45 pm |
  63. Lucy

    Yes, our only hope is the Democrates loose elections in 2010, to make the government more balanced for all of us.

    June 1, 2009 at 4:49 pm |
  64. Regan

    American Capitalism is not dead; the notion that such an integrated part of our society could collapse so quietly and completely in less than 2-3 years is a true testament to the short attention span of the modern American.

    We are experiencing a Recession. They happen every once in a while; and have for centuries. The fact that this one is worse is a testament to the power of the media to enduce mass panic.

    Honest Americans have absolute faith in the Federal Government's ability to prove that it is NOT the answer to our problems.

    One side makes a mess, the other side comes in to clean it up. Then they make a mess, and so on and so forth. So it has been since long before our grandparents were born.

    People just love 'living in interesting times'....

    June 1, 2009 at 4:51 pm |
  65. Kirk Williams

    The problem is people seem to look at capitalism and socialism in terms of black and white, which is quite naïve. They need to be looked at in shades of gray. Each one of these two systems has their evil extremist cousins, socialism has Marxism, and capitalism has it anarchism, those are extremist systems. Erroneously, many Americans equate socialism with its extremist cousin Marxism. We need to be open minded enough to use the best of both systems.

    The United States has been embracing certain tenants of Socialism since the New Deal. Anyone ever collect unemployment, or social security, well that’s socialism. How about state disability, public education, public health initiatives, or any other government entitlement? That is socialism too, this nothing new.

    Kirk
    Peoria, AZ

    June 1, 2009 at 4:51 pm |
  66. Christine from Edmeston, New York

    Pravda makes some excellent points. In fact, much of what they observe is the absolute truth. But it would seem that post-Cold War Russia is still looking through the same clouded spectacles as the Soviet Union when it comes to the real heart of the matter. Capitalism, like every other principle and practice in the United States, is not without its flaws and weaknesses. But the sum total of everything American is still, and always will be, perched upon an unshakeable system of democracy. Our capitalism is part of that system, and it may get bruised and battered now and again, but it will never collapse.

    June 1, 2009 at 4:51 pm |
  67. Josh from Chicago

    I think American greed and self-center-ness is dead.

    June 1, 2009 at 4:52 pm |
  68. steve in florida

    No. It's getting a much needed makeover. What we need to see an end too is corporate gluttony. They've been like a kid in a candy store for 8 years. Time for a more sensible diet.

    June 1, 2009 at 4:53 pm |
  69. Jason, Koloa, HI

    It was dead long before Obama. We've been practicing corporate welfare for decades. Privatizing profits and socializing losses for the corporations that were and are still controlling our supposed leaders. The Russian view is meant to embarrass us by pointing out the hypocracy of our capitalist propaganda that we spread across the planet, but it is not a completely accurate view. All we need to change about our country is socializing benefits for citizens instead of socializing losses for corporations and we will be a better country than Russia has ever been.

    June 1, 2009 at 4:54 pm |
  70. JIM CALIFORNIA

    Capitalism is not dead yet. I am sure that our socialist president Barack Hussein Obama will make every effort to insure of its demise.

    June 1, 2009 at 4:57 pm |
  71. A. Bickle

    The evolution of politics and humanity are bringing down capitalsim, which isn't a bad thing. Karl Marx stated that socialism is a transitional stage between capitalism and communism. Through capitalism a country builds up its value, then when capitalism crests you take your GDP to take care of your citizens basic needs(transportation, health care, energy, etc.). Over the years are basic needs have expnded with the integration of technology. There are service industries that SHOULD be non-profit organizations, so if need be they SHOULD be govt. ran. The only people complaining are the wealthy, whether they made their money or were given it by their wealthy families.

    June 1, 2009 at 4:58 pm |
  72. Charles in Lawrence, NJ

    Capitalism is an experiment and so is democracy. If you want them to work they have to be tuned-up occasionally. We police our streets because people aren’t trustworthy and our banks, insurance and stock markets warrant the same scrutiny. The middlemen of these industries, brokers and CEOs who produce nothing, should live within our means instead of theirs. Marxism and capitalism = China today, the next top dog.

    June 1, 2009 at 4:59 pm |
  73. Ben in Maryland

    Nah. Somewhere there is a smart person, even as we speak, figuring out how he or she can screw the most people out of the most money.

    June 1, 2009 at 5:02 pm |
  74. LDR in Central Texas

    Dead? What happened? Did McDonald's close down? Did Wal-Mart go bust? Come on, Jack. Its just on a fat-free diet because us fatso Americans can't keep consuming without evenually having to take an economic dump. Get real.

    June 1, 2009 at 5:06 pm |
  75. Jim, IL

    Not quite dead, but very ill. For over 300 years, America has been a land of idealists, inventors, and pioneers who took risks in return for discovery, wealth, the greater good. The consequences were wild success, failure or something in between. We accepted the consequences, stepped forward and always played hard. This is the spirit that must be found again. Does either party get this?

    June 1, 2009 at 5:06 pm |
  76. frankie

    "We have nothing to fear but fear itself." We'll be fine if everyone (including Republicans ,even including Rush Limbaugh) would just act positive and do our part.

    June 1, 2009 at 5:06 pm |
  77. Steve of Hohenwald TN.

    I hope so ! I had much rather have the government running big companies than big companies running our government. I`m sick and tired of our elected taking care of the big guy and selling us short.

    June 1, 2009 at 5:12 pm |
  78. JF

    Capitalism is not just an american thing, the word is just a word
    game. The only thing with the power to chang this world is GOD"
    This world is rocking around trying not to change like a baby
    winging from it's binky.

    Atlanta, GA.

    June 1, 2009 at 5:13 pm |
  79. Rodrigo Saldaña

    The US is not heading for communism/socialism, it's heading for "slightly right of center" which to the people on the far, far, far right (who think it's okay to kill a doctor on a church because he performed long-term abortions) is too far to the left. Can we trust Pravda? Certainly not more than the people who promised to help cut down costs on health care and turned around to air (already prepared ads) about the 'horrors' of state run health care. I think we can all agree that HMO run health care has even worse horror stories, but all we see is health-care sponsored ads about how much worse off (yeah, right!) you'd be under the same plan federal govt employees enjoy.

    Of course the 'substandard education system' bit is true, though I doubt anyone on the left made the conscious decision of basing the education upon pop culture. That's one of the things the GOP does hoping to foster a culture where killings in a church get cheers. (As anti-abortion movements appear to be doing).

    June 1, 2009 at 5:14 pm |
  80. Rory Murray, San Bernardino, CA

    Jack,
    When I was a kid in the 1960's products made in America were among the finest in the world, especially our automobiles! By contrast, products made in Japan and China were considered cheap and inferior. Less than 50 years later, thanks to outsourcing, unfair trade practices and a hands-off approach to border security, the paradigm has reversed.
    We can only succeed by creating products that the WORLD wants to buy again and making sure that the jobs that are created go to American workers...and ONLY American workers!
    Rory Murray
    San Bernardino,CA

    June 1, 2009 at 5:14 pm |
  81. Mary Thayer

    I am afraid of what our country is becoming. We took God out of our schools, then out of the Court Houses it is unnerving the things that the people are letting happen. I have a 17year old grandaughter and am afraid for her. She has seen her collage fund go to nothing after we have told her all her little life to a save and save and now she has nothing left what do you tell her. Our new President has not helped by spending and spending and not putting a stop to some of the things that are going on. Are we Americans just laying down and quiting?

    June 1, 2009 at 5:16 pm |
  82. Kevin

    GM = Government Motors

    June 1, 2009 at 5:17 pm |
  83. Kerry Florida

    Absolutely not! Especially if you can borrow money from China or a foreign country who "has money."

    June 1, 2009 at 5:19 pm |
  84. Barb from Hazel Crest, IL

    No, it not dead. It is being redefined with checks and balances that were dissolved in previous administrations. You just can’t allow banks, and other large companies that affect our economy have free reign. Otherwise, we will become dependent on them just as we are dependent on oil. It a new day and a new generation with new ideas and that will propel us into the next decade

    June 1, 2009 at 5:19 pm |
  85. Jim K

    American's predominance in capitalism is dead, given that we've allowed other countries to beat us at our own game and that our government is rescuing companies that did not adapt to the changing market. If we want it back, we must be willing to pray to God for wisdom and strength and then work like He's not listening.

    June 1, 2009 at 5:19 pm |
  86. Joe in VA

    As Mark Twain said, "The rumor of my death is highly exaggerated. " So it goes with capitalism. And after all, what do the Russians know? We're going through a rough patch, a very rough one, and it has called from some extraordinary government action. When things improve, the government will back out , if for no other reason than to sell the stock they own and put the money back into the treasury. Capitalism will come back but this time let's hope it returns with some degree of a conscience and better motives than pure greed.

    Chatham, VA

    June 1, 2009 at 5:19 pm |
  87. Miles in Allentown

    Capitalism is alive and strong in the USA. It is merely undergoing imposition of a regulatory environment that will reduce the excesses of greed that offset Adam Smith's "...enlightened self-interest...". Enlightened self-interest allows for profits and long term growth. Greed is short term and ultimately destructive.

    June 1, 2009 at 5:20 pm |
  88. MariaElena

    Well, maybe we're going to become a mini-capitalism state. Maybe it is way overdue that we are still trying to "live like the Jones' " from the 1950s until now. And maybe I should check the ingredients of that brownie I just ate!

    June 1, 2009 at 5:20 pm |
  89. Josh in Georgia

    It sounds like the Russians have the same problem our opinionators have, their judgement is clouded by wishful thinking.

    June 1, 2009 at 5:21 pm |
  90. Kevin

    Welcome to Obama motors!

    We give GM 50B $ and get 50+% of the company
    Union gives up 10B$ and gets 40% of GM
    Amazing how giving union money for the election of Obama helps them get 40% ownership. I love this administration Do you smell something bad.... I know I do: Long live the U.S.S.A.!!!

    June 1, 2009 at 5:22 pm |
  91. Jim, Shippensburg, PA

    Jack,

    The Republican Party is like a person struggling in quick-sand – they will grab at any strand of grass to save themselves. Once the Judge has an opportunity to address the quote in the context of the entire speech, this will become a non-issue. Hopefully the Senators that are judging Judge Sotomayor have the same level of intellectual prowess and move to really substantial inquiry.

    Jim, Shippensburg, PA

    June 1, 2009 at 5:22 pm |
  92. Roland(St George,UT)

    Is Michael Savage writing for Pravda now? I didn't know he spoke Russian.

    June 1, 2009 at 5:24 pm |
  93. Jeff C in CT

    Jack, Jack!! We know you are wishing this is fact, but it is not!! We have a half dozen reasons to think so, but look at the size of our economy!!

    It will take more than Pelosi and Obama to kill Capitalism!!!!

    Jeff C in New Britain, CT

    June 1, 2009 at 5:25 pm |
  94. Ken M . Millington MI

    Hello Jack. Yes i believe that the old american capitalism is dead. But remeber that the world also adopted americas formula for a revived capitalism. American capitalism was or is being consumed by global capitalism. As painful as it is to say that the russian press is not to far off the mark. I believe and i could be mistaken didn't Nikita Kruschev say the comunist would take over america without firing a shot or something to that affect.

    June 1, 2009 at 5:25 pm |
  95. Ken in NC

    No it isn't dead but Republicans and their deregulations and Democrats and Republicans with all their "FREE TRADE" have put a nice hole in the heart of American Capitalism.

    June 1, 2009 at 5:26 pm |
  96. Bruce

    Yes it died with the Federal Reserve Act. The mega-corporations run this operation through the centralized government. It is not only dead, it is now fascism by definition. Both parties are identical, and the power comes from the controllers of the Bilderberg families.

    June 1, 2009 at 5:27 pm |
  97. S.B.

    Jack, Do you mean by "capitalism" that bunch of suits which prohibits guys from referring to a confessing Rumsfeld as a war criminal on the air? God I hope so, this system of quasi-legalized slavery that we underpaid and over-manipulated working Americans now enjoy could use a complete upgrade. Thanks.

    June 1, 2009 at 5:27 pm |
  98. james sloan

    Jack, Capitalism will never die. But without some regulation it's not capitalism, but GREED. Jim Sloan/Phoenixville, Pa.

    June 1, 2009 at 5:27 pm |
  99. Natalia

    No, it is not dead, but it is currently on life-support. The public cannot be lead to believe, by Russia of all countries, that our system is dead because of Obama. Their resentment of what Obama is doing to salvage some of our countries most visible American-owned corporations is because they failed to stabilize their own failing economy, which was modeled after our system of captialism. There are numerous companies in our country that are doing well and attaining the American Dream without government intervention. In a true captialist economy, these Big Three should have been allowed to fail on their own, so that someone else's company could have come in and cashed in on the American Dream.

    June 1, 2009 at 5:29 pm |
  100. Matt from Ohio

    No, but some elements of it are under attack. Things like the government’s ability to fire a CEO and potential ability to cap executive salaries are a threat to American capitalism. The buying public can cap executive salaries themselves through boycotts or by becoming shareholders. American capitalism began as laissez-faire economics, but it has evolved over time, as has our country, and needs to keep evolving. We need increased structure, but we have to be careful not to go too far and plunge America into years of frivolous economic regulation and debate.

    June 1, 2009 at 5:29 pm |
  101. james_scranton@msn.com

    Look what capitalism has done to this country, the rich keep getting more richer and looking out for the special interests and the bottom dollar. Jobs are shipped over seas, and where was the outrage on that the politicians just let it happened and not one person that I know of complained about it in this country except me. No one wants to get involved today on things that matter to them. It use to be that companies would care for their workers that went out the door when the republicans took control back when Reagan was president. The republicans, and democrats, and I am a democrat let it all happen with some very bad legislation. COME ON AMERICAWAKE UP GET INVOLVED AND NOW, OR THIS WILL KEEP ON HAPPENING!!!

    June 1, 2009 at 5:30 pm |
  102. Kenny

    Yes Jack,
    Capitalism is dying at an enormously quick rate. There will be no middle class, our schools are now only teaching to the test, our teachers are so low paid that they have to have a second job. There is no reason for any of us to become small business owners and a lot of us have bought into O'bama's smile. The country is now being run by Hollywood who has killed California and has it's sights set on the country as a whole. This is the way Russia was before the communists took over for a 70 year run as a third world country. Just looked what happened when we became "one world" the rest of the world dragged us down to their level. I'd like to say thanks to all of our politicians-you all stink and snd should be ashamed of yourselves you thieves.

    June 1, 2009 at 5:31 pm |
  103. Ralph Nelson

    No. If you want to kill American Capitalism do what the Republicans do because their idea of "free markets" leads to monopoly, less competitiion, higher prices, consumer abuse, corruption (like we have now). You need to enforce anti-trust laws, foster small business and competion, give tax cuts to the middle class who are the consumers, understand taxes from the rich are just recycled to the middle class who spend it and make the rich even richer. Tax cuts to the rich is a waste. We are on the brink of revitalizing Capitalism and a bright future if we grab it. Energy independence is the future. Ralph, Yakima, Wa., MBA Business Management.

    June 1, 2009 at 5:31 pm |
  104. David, Tampa, Fl

    No, it is not Jack, but it could and should get a healthy restructuring. I believe in business school they call it a new business model. Our large companies can't compete because of a ridge structure and the toady system. Simply, we can no longer afford corporate America any more than we can afford the rabid spending needed to "fix the mess" that will haunt future generations.

    June 1, 2009 at 5:32 pm |
  105. Kin Wong

    Capitalism is not dead but from time to time, it need some guidance and/or correction. True free capitalism is capable of correcting itself only after prolong suffering by the have nots or the middle class. The role of government is to moderate the suffering by the middle class (you may call it socialism if you want to). Without such moderation, the end point of free capitalism will follow Darwinism – the extinction of certain species and that species may be the American society. If the Uncle Sam follow true free market, we will let the entire banking system fail and that will lead to total collapse of the US economy.
    Anyone who has some form of conscience will not let that happen. Most American do not understand what is "true" capitalism. I suggest all readers to pick up Adam Smith's book on "The Wealth of Nation" and then and see if how America has departed from "free" capitalism.

    June 1, 2009 at 5:33 pm |
  106. Pat Townsend Iowa

    Jack;

    Our Capitalism has started to circle the drain with the Free Trade agreements. Not one smart politician thought about the fact that Free Trade will pull us down to the least common denominator. Now as we fool around trying to prop up the economy we do nothing to change it to FAIR TRADE. I don’t know if it as bad as Pravda would imply but Capitalism has started down the drain and now we can only hope that somwthing comes alone to plug the pipe.

    Respectfully;
    P. Townsend

    June 1, 2009 at 5:35 pm |
  107. Steve

    American capitalism is currently in a triage, but not dead. American capitalism give birth to a selfish do anything for money society and we are in an emergency room right now being treated. The recession has been a blessing in disguise that will force us to reacquaint ourselves with the true vales this country was founded on.

    Steve
    Clifton, VA

    June 1, 2009 at 5:37 pm |
  108. Ricky, New Orleans, LA

    Welcome to Obamunism, Jack! It's not Marxism, but its darn close to it. Featuring Government owned companies in the private sector, Government Run Healthcare, and more is to come as we turn to a government run economy. The US Government will never dare call it Marxism, especially after the McCarthy Era. Too many people would cry foul.

    June 1, 2009 at 5:40 pm |
  109. Bryan Richards

    It looks like the Democrats have sold out labor, without tariffs our manufacturing cannot survive.
    Usually it is the Republicans that sell out labor, corperate america must have found out it was cheaper to bribe a Democrat, hence the Republican delima, no funding , no votes.
    Someone in the Country needs to support the workers, ssi is being replaced by 401K, few retirement plans remain, and wages are being driven down,while the country is being overrun with migration, this is a sad time for the American Worker.
    Los Angeles County, California, retired

    June 1, 2009 at 5:40 pm |
  110. Richard New Hampshire

    The problem can be summed up in three letters,CPA.
    Remember when merchants used to run retail stores?Remember when mechanics ,engineers,steel benders used to run auto manufacturers?Remember when farmers with dirty hands and boots would run farms/
    No longer.Accountants bend numbers,coperations have dirty secrets.
    It is all what have you done for me today.Short term profits,no long term planning.Lifo,fifo,depreciation,bend those numbers,forget the customer.Employees are a liability.
    Remember when?

    June 1, 2009 at 5:41 pm |
  111. sabrina royal oak MI

    It has been dead, it started when we let our governement force auto insurance on us by creating laws to protect the insurance industry profits. No other company has laws mandating citizens pay monthly payments for the benefit of profits for a single company.
    It also happened years ago-40 or so when we started permitting govt to start the trade imbalance for the profits of certain companies and goods while claims of capitalism and allowing large companies or corps to call the shots for taxpayers to foot the bills.

    June 1, 2009 at 5:42 pm |
  112. Antoine in Plant City, FL

    Not yet, but it needs to die a bit. This really has nothing to do with GM, but capitalism as a whole. It's the same system that drove slavery, keeps sweat shops up and running around the world, and creates the largest wealth gap the world's ever seen. Those who "have" have too much, and those who "have not" actually have less than what "have not" implies. Minimum wage and LIVABLE WAGE are 2 different things, far apart unfortunately. I know I said this in many posts, but it's worth repeating. I'm a sociolgy major, so I know what I'm talking about-

    Earners Amount of Wealth Owned in U.S.
    top 10% 70%
    top 20% 80%
    bottom 40% .2% (point-two)
    bottom 20% owe (negative %)

    We need an overhaul so people can get ahead, 'cause hard work just ain't cutting it anymore...

    June 1, 2009 at 5:45 pm |
  113. Dave (Leesburg, VA)

    I've read several debates about capitalism vs. socialism, Obamanism vs. Bushism and etc. As an Haitian-American, it doesn't make sense to me that the Obama administration embraces intervention before the apocalypse sets in and all the while sending a message that you can achieve anything and "be" anything you want but the govt will control that level of success. Why should I bother to push myself if I can't control my own level of success or wealth? Am I missing something? If I told my daughter that she can be anything or do anything she wanted in life but to a certain extent, she'd think that I'm in la-la land. Look...Not everyone can be philanthropists...no check that...the govt can, they just did with the taxpayers money with the recent bailouts. So yes, American Capitalism is dead by the very actions of the govt.

    June 1, 2009 at 5:49 pm |
  114. Jade

    You know what's funny about this, is democrats wanted to know the exit strategy from Iraq, which I'm not sure we even have under Obama yet.

    Now Republican's want to know an exit strategy from the economy, maybe Obama is just getting a little revenge while pretending to help us out.

    The two political parties remind me of two feuding enemies, I'm going to do this because you did...doesn't matter that what they are doing was wrong when the first person did it. Two wrong's don't make a right, and Obama and the Democrats hopefully will be able to realize that and live upto what all of us hope they will for those of us that voted for them, that they will fix this country and not leave it worse than when they started.

    If they leave it as it is, then we are fast on our way to socialism, not just from Obama but from Bush as well...and captialism as we know it is dead, now the question is...is that such a bad thing?

    June 1, 2009 at 5:51 pm |
  115. Cole

    This question is ridiculous!! It is American capitalism……..
    Has everyone forgotten Chrysler from the 80’s, and what about that
    “cluster -censored-” bailout of the airline industry?

    Too big to fail means old ideas never die and who needs new ones!

    June 1, 2009 at 5:52 pm |
  116. Antoine in Plant City, FL

    That is, the top 10% of earners own 70% of wealth in America; the top 20% own 70% of the wealth; the bottom 40% own .2% (point-two); and the bottom 20% just owe (a negative %).

    June 1, 2009 at 5:54 pm |
  117. keith in ky.

    Not yet,but give the fools in charge a little more time and it will soon be gone.Are there really so many stupid people out there that belive the crap that is happening now.

    June 1, 2009 at 5:54 pm |
  118. Al from SoCal

    Capitalism may not be dead in America but its surely on life-support. There's a lot of people saying that America is steering towards socialism but in reality America is steering more towards fascistism. I wish more people would take the time to review history and see the similarities where American is now and where Germany was in the early 1900s. America may not be repeating history but where the Obama and the Democrats are taking America, is certainly not capitalism.

    June 1, 2009 at 5:56 pm |
  119. Wilson from Alabama

    It is either this or liquidate the country. I will let you take it from there. You are much more intelligent than I.

    June 1, 2009 at 6:00 pm |
  120. Anna

    American capitalism is not dead. As long as we have that inner reptilian drive for aggression, we will have capitalism. And I don't see our brains evolving anytime soon.

    Orlando, FL

    June 1, 2009 at 6:02 pm |
  121. Star Auburn Ohio

    I took business courses in college and I would have to say that I fail to see how any of our businesses have survived this long as they do not seem to understand closing the books at the end of the year and paying for what they have purchased and making there books balance. I say it is dead and we should just go back to pre dawn bartering and act like cave men again

    June 1, 2009 at 6:03 pm |
  122. Ravi

    Common.....Capitalism has turned into GREEEEDISM

    June 1, 2009 at 6:07 pm |
  123. JimD Palatine

    No it isn't dead, but it is terribly sick as it has been permitted, even encourage to run wild in the past ten years. I find it amazing that we worry about Capitalism because it shouldn't be permitted to buy every level of Government we have. To this day I wonder why the names of those who met with our former president has be kept secret, unless we might find out how they profitted by the energy plans they implemented. As a matter of reflection, the country run by a small minority of powerful (rich) sounds more like Marxism (in practice) not as in theory.

    June 1, 2009 at 6:08 pm |
  124. Martin in Shoreline, WA

    No. But it is in intensive care. I would say that Pravda hit the nail right on the head. Religion has dumbed down the right; and an obsession with racism, sexism. and global warming has dumbed down the left. We elect dictators who excuse themselves from rule of law. Ford pardoned Nixon; and Obama has effectively done the same thing with Bush. Both sides trust their corrupt "leaders", and they are utterly stupid for doing so.

    June 1, 2009 at 6:10 pm |
  125. Vee

    American capitalism, not dead– but moribund (in a dying state) given bad ecomonic policies made over the last 8 years; not to mention paying for war in Iraq we should not have been involved in, at all.

    That said I am hopeful. If I werent, it would be time to roll over and give up. I never ever give up on the low end. I still await a bullish market !

    June 1, 2009 at 6:11 pm |
  126. Mark K

    Capitalism is not dead, just morally bankrupt…

    June 1, 2009 at 6:11 pm |
  127. John, Fort Collins,CO

    If the excesses on Wall Street, poorly regulated banks, or Bernie Madoff are the definition of capitalism, then it is better off dead. Next we have to think about the Republican concerns. The answer is the invasion of General Motors is far less costly than the invasion of Iraq and will be much easier to exit - the governemnt only needs to sell their GM shares when it's time to move on. What is one share in the Iraq war worth?

    June 1, 2009 at 6:12 pm |
  128. Emily

    Are you freakin kidding me??? America and capitalism are so tightly bonded the next best competitor in the capitalist world isn't even close! Those that say we are becoming Socialist... YOU MORONS!!!! Go to Norway. See socialism live out and then tell me you REALLY believe even 1 thing in the USA leans socialist. Our Capitalism is not at stake.... only our selfish greed!

    June 1, 2009 at 6:12 pm |
  129. Ralph Spyer chicago Il

    No American capitalism is not dead,American manufacturer are on life support

    June 1, 2009 at 6:12 pm |
  130. Graham

    If Obama's policies continue, it is.

    June 1, 2009 at 6:12 pm |
  131. RookyJ

    I hope sure so!

    June 1, 2009 at 6:13 pm |
  132. Todd Mackett

    Dead as an Obama-nail.

    June 1, 2009 at 6:13 pm |
  133. Tanner

    yes! but communism is very much alive in america we just dont want to admit it!

    June 1, 2009 at 6:13 pm |
  134. Patrick

    Hysteria. Hyperbole. The fearful twins of a population unsure of our economic future. I'll wait patiently and listen to calmer minds than Pravda, thank you very much.

    -P

    June 1, 2009 at 6:14 pm |
  135. RookyJ

    I sure hope so!!

    June 1, 2009 at 6:14 pm |
  136. Dale Lawrence

    No, Jack. It is in the shop being repaired. The former driver pushed it too hard, for too long, and without changing the oil or getting a tune-up.

    June 1, 2009 at 6:14 pm |
  137. Flyingwolf, Manchester NH

    Is American capitalism dead? If it is I want a free car!

    June 1, 2009 at 6:14 pm |
  138. Joe

    American capitalism is showing itself as ever evolving. There is no firm line in a dynamic economy; we need new strategies to deal with new problems. talking in terms of its 'death' is missing the point.

    June 1, 2009 at 6:14 pm |
  139. David

    Under Obama's regime it is...

    June 1, 2009 at 6:14 pm |
  140. Tom from Salinas, CA

    I don't think that American Capitalism is dead. During the last years capitalism sure came off the rails, aided by cheap money, the 'ownership society' preached by the not-quite-so-really Republicans that were in charge, and we're just paying the price now. We're going to see more capitalism breakout when the economic recovery starts to gain steam.

    Congratulations to CNN on 29 years!

    June 1, 2009 at 6:14 pm |
  141. Gus The Willie

    I believe it is! The ole white men who thought they could do no wrong killed it.

    June 1, 2009 at 6:14 pm |
  142. Elwin Martin

    Not as long as humans remain greedy!

    June 1, 2009 at 6:14 pm |
  143. Sam from Chicago

    This is a silly claim. American capitalism is alive and well, and Barack Obama's monetary and fiscal policy is only ensuring that capitalism's heart is still beating strong. Printing more money is nothing new, and is simply a tool to help expedite the recovery. As long as there is competition and people still strive for the "american dream" American capitalism is very much alive...

    -Sam, Chicago

    June 1, 2009 at 6:15 pm |
  144. Bryan in Colorado

    In some ways it is because we now have GM run by the goverment and the uaw, two entities that have never cared much about profit unless it goes in their own pockets. All I can say is I will never buy a new GM auto again they already have 30 billion tax payer money that never has to be paid back. We just paid for all the pensions and over paid uaw workers as well and lets not forget uaw presidents salaries.
    Let me quess they will ask for more free money later this year.

    June 1, 2009 at 6:15 pm |
  145. Thomas Lansen

    Yes, Jack, capitalism is dying quickly. To paraphrase Kruschev, our grandchildren will indeed live under socialism. We have tiptoed our way through diminishing standards – of learning, of behavior, of speech; and now it's time to pay the piper.

    June 1, 2009 at 6:15 pm |
  146. Joe

    If Pravda says so, then it's the truth

    June 1, 2009 at 6:15 pm |
  147. Eddie

    Currently Capitalist USA is $3 Trillion in debt to Communist China.
    Personally I welcome Socialism as long as it is in Healthcare.

    June 1, 2009 at 6:15 pm |
  148. George M

    If it is true that at the end of the day men and women will see the issues the same way, wouldn't all decisions be 9-0? Think about that.
    Geo

    June 1, 2009 at 6:15 pm |
  149. stuntbrain

    Jack Jack Jack, This is what Pravda figgered out – – – If it walks like a Socialist, Takes over companies like a Socialist and talks of "shared sacrifice"... guess what? IT'S A SOCIALIST. MVO in NYC

    June 1, 2009 at 6:15 pm |
  150. Veronica - VA

    Jack, desperate Republicans want Americans to think so. Plus, the Pravda Online is known globally as nationalist and sensationalist. It’s funny and ironic Republicans and the Pravda agree!

    Government intervention during this economic downturn has been essential to stopping corporate greed and corruption, while attempting to save a HUGE industry.

    June 1, 2009 at 6:16 pm |
  151. Dario Quezada

    Capitalism is not dead, hopefully abusism is. Time to get the bull by the tail and shake him.

    This CEO's were getting away with murder, out of control. Now when someone wants to put a stop to it, they are trying to make it look like socialism.

    I call that bull.

    Get a life republicans!

    June 1, 2009 at 6:16 pm |
  152. Jim - Massachusetts

    American capitalism isn't dead yet. Unfortunately, the government has had to step in under extraordinary circumstances to stabilize the global economy. It remains to be seen how long the government will hold this stock or how heavy handed they will be in the future. If they exit in a reasonable amount of time.

    June 1, 2009 at 6:16 pm |
  153. rick

    If it is, it was a self inflicted death.
    Not purposeful like suicide
    . More like the death of an obese smoker who shoulda known better....

    June 1, 2009 at 6:16 pm |
  154. Sorin Roiban

    Capitalism works just fine – it is over regulation and taxation that creates monsters which consistently fail under any system.

    June 1, 2009 at 6:16 pm |
  155. tom gallub

    Capitalism took a blow during the Bush administration built an elitist class in the USA, and if it takes a bit of socialism to bring things back then why not? Modified socialism works in Europe and given the choices why should it not work here to help us through the crisis. Socialism or pseudo monarchy... not a difficult choice.

    June 1, 2009 at 6:16 pm |
  156. Rod

    These companies have committed capitalistic suicide with their choices in the last ten to fifteen years. The "Market has corrected itself" to their detriment. Dealing in such shady business decisions, near-sighted profiteering schemes and "Free Trade" has finally blown up in their faces.

    June 1, 2009 at 6:16 pm |
  157. The Broker.

    Did you really ask that question? Capitalism. Big Word! Small World, and getting smaller. Domination of the Third-World? Slavery of the 21st Century? Should I go on. Dollar Stores all over the world, selling Cheap Labor. Capitalism???? What does that mean?

    June 1, 2009 at 6:16 pm |
  158. Ron Dierolf

    If "American Style Capitalism" means ENRON, Madhoff, corporate executives with 9-figure salaries regardless of performance, Tyco, Adelph, grossly inflated real estate, etc., ad nauseum, perhaps it should be dead. The world is a much different place than it was 50 years ago and perhaps we need to look for a new system.

    June 1, 2009 at 6:16 pm |
  159. John Dickey

    No, but there are limits. We are learning that we can not afford unlimited accumulations of capital. Perhaps this is a nod towards the socialistic point of view, but it is necessary.

    June 1, 2009 at 6:16 pm |
  160. Carl Caum

    I hope so. I sincerely believe capitalism is not dead and won't be any time soon. American style capitalism has evolved in to supercapitalism that severly failed us all.

    June 1, 2009 at 6:17 pm |
  161. JohnBoy111

    Why listen to the house organ of the former Communist Party of the Soviet Union, N/K/A the Party of Democratic Socialism in Russia. As long as we can keep the moronic Republicans at bay, American Capitalism will do fine.

    June 1, 2009 at 6:17 pm |
  162. phil hamburg

    Dead... well if you bleed out ur nine pints and don't plug the holes the heart will stop... that dead in my book.. I suppose u could buy 30 billion "bandaids" to stimulate the economy.. but that's just comical Jack, they'd never do that.

    June 1, 2009 at 6:17 pm |
  163. Nick

    I dont know if capitalism is dead but if the Russian newspaper is right, I would have to make another claim and that is that with a marxist society, the U.S. finally might get a proper healthcare program that is found in many European countries.

    June 1, 2009 at 6:17 pm |
  164. Cora - Hot Springs Ark

    I believe capitalism is still around, as long as we take greed out the equation. but socialism is within CNN when they deny and don't agree with what a person say, and deny them the right to speak there opinion on your blog because they don't agree with it,

    June 1, 2009 at 6:17 pm |
  165. Philip L.

    No, capitalism isn't dead. In the case of GM, the unions and lack of learning from the oil crisis in the 70s are the contributors to its downfall.

    When you pay workers that aren't working in a "job bank," and maintain a system where your costs are more than your competitor's, failure is a foregone conclusion.

    Also, making vehicles that aren't as efficient or as high quality of one's competitors, make the problem worse. This was never true capitalism in the strictest sense.

    June 1, 2009 at 6:17 pm |
  166. Joe Marri

    Here's a term maybe the Righties can identify with:

    American Capitalism is not dead, it is simply being born again. Conservatives have been refining their spirituality for over 200 years to fit modern lifestyle, why can't the rest of us try it with our government and policies?

    June 1, 2009 at 6:17 pm |
  167. Chris Sost

    Capitalism has not existed for the past 100 years or so. To find proof just look at where it all started. Income Tax, Federal Reserve, IRS.the "Corporate State" has taken a strong hold on our government and won't give it up. For every CEO who's income is capped, there will be a tax loophole for them to gain more wealth without paying tax on the money. Our version of Capitalism will always survive because we will use Socialism to bail it out.

    June 1, 2009 at 6:17 pm |
  168. Mad Apes

    No, i don't believe capitalism is dead. So many are choosing to forget the extraordinary circumstances our economic system finds itself in and would rather choose to believe the conspiracy that Obama is out to control the private sector.

    What's troubling about this particular story is that it came from an Opinion piece – not a news piece – from what is basically an online version of the National Enquirer tabloid and not the original Pravda paper*. Right-wing sites spread it around as "fact" solely because, that's right, it supports their fears.

    June 1, 2009 at 6:17 pm |
  169. David A Whitaker

    Hey Jack, definitely it is not our system of government just need a little boost. Our banking system and big corporations, has become so big and over priced. There had to be a changed, you can't keep taking and taking from the consumers without no side effect.

    David
    Martinsburg, WV

    June 1, 2009 at 6:17 pm |
  170. jc smoots in tulsa

    I have to hope it's dead, at least in the way we've practiced it the last 25 years anyway. Since the mid 80's the american people have just gotten greedier and greedier. The have's just get more and more and the have not's get less and less. If the attitude of the people doesn't change our corporate policies we will fall far further than we have. The middle class of the pre-80's has completely disappeared and capitalism sure won't save it and now we've fallen so far that only the government has a chance to. The sad part is WE can change it but most of us are still to greedy to try. Educating ourselves and our kids is the only real option.

    June 1, 2009 at 6:17 pm |
  171. Diane

    If American capitalism is dead then "rest in peace" - right next to greed and exploitation.

    June 1, 2009 at 6:17 pm |
  172. Bernadette Loesch

    yes, and may it rest in hell with the executives and rich people who structured it to make themselves obscenely weathly and keep others in our country poor or middle class.

    June 1, 2009 at 6:17 pm |
  173. Marge in Ct.

    To the extent that American capitalism is based on greed, it is heading for extinction. If we don't start adjusting our values, we can prepare the swan song.

    June 1, 2009 at 6:17 pm |
  174. Gavin

    Here is one for you Jack, concerning Government investing in Coporations: "Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power."
    Benito Mussolini

    June 1, 2009 at 6:17 pm |
  175. George Irwin

    Is American Capitalism dead? What specifically is American Capitalism? Jack doesn't define it in his article. Maybe American Capitialism has simply grown up out of it's juvinial or infancy period. Probably not, but it might be rebelling against its Grand Ol' Parents.

    Should have let those car companies just go to the dogs? Health Care and Social Security will go bankrupt in a decade or so, will we let it burn and hope the next evolution is better? Isn't that American Capitalism?

    Isn't Obama's economic package the parallel of what GM has been trying to get me to do? Drop 40k on a new car and hope it is a better value than than continuously patching up my Mitsobishi that needs repairs every year? If that isn't American Capitalism I don't know what is.

    June 1, 2009 at 6:17 pm |
  176. Adam Bernier

    Probably. It is ironic that our economic system seems to have collapsed for the same reasons as the Soviet system - mainly greed and lack of foresight. I think its time for Americans to stop being terrified by the "S" word (socialism) and start seeing Capitalism and Socialism as end points on the economic spectrum. Our job is to then find out where on that spectrum our country is best suited and embrace the fact that you cannot have a truly capitalistic or socialist society - you need a mix of both.

    Adam Bernier,
    Somers, NY

    June 1, 2009 at 6:17 pm |
  177. Ron Ouellette

    Jack,
    I don't think that Capitalism is dead, but, it has been shaken to its core. If those in power would have done the right thing for the so
    called "nobodies" in our society then capitalism as we know it would
    continue to thrive and grow. But, as history has shown those in the
    top spots in business and government decided that it was their
    chance to load their pockets on the backs of the workers and by
    outsourcing all the jobs they did and continue to do via NAFTA and
    CAFTA its no wonder that capitalism, as we know it, is on its butt.
    Remember when Ross Perot said that if these bills were passed
    there would be a giant, sucking sound?? Well, enough said??
    Ron – Florida

    June 1, 2009 at 6:17 pm |
  178. Michael S.

    American Capitalism is very much alive. You can see it in every business district, mini mall, store, factory and office building. Large businesses however are very sick and infecting a lot of the small ones. If GM, Chrysler and other large businesses don't make drastic changes, their illnesses will trickle down to other capatilist endeavors causing chaos and havoc. We are in serious trouble.

    June 1, 2009 at 6:17 pm |
  179. James Green

    i believe that it is the economy is the least of are worries ! the government controlling are lives is a far bigger threat to the people of this country!!!

    June 1, 2009 at 6:18 pm |
  180. Ian

    No, but it is going through a pretty significant transition. If the President chooses to look at other economic systems and adapt successful elements of them into our own, how could anyone say that's a bad thing?

    June 1, 2009 at 6:18 pm |
  181. Lee in Baton Rouge

    When did Fox News Corp. buy Pravda?

    June 1, 2009 at 6:18 pm |
  182. Mark

    Yes....kinda. Unless the American people start investing(spending money) on U.S. made products, then we are forced to compete with communist China. The only way to compete is to ourselves become a socialist country. So go ahead stupid American, keep hunting bargains at Walmart, ignore any kind of pride in your home country, and by your actions we will become a communist country.

    June 1, 2009 at 6:18 pm |
  183. Phil Hess

    It's not capitalism that breeds success. It's capitalism built with a strong moral backbone that creates success. We're losing our bearings as a nation.

    June 1, 2009 at 6:18 pm |
  184. Linda Brazis

    Of course Capitalism is not dead. But like a severely injured crash victim, without being hooked up to temporary life support (government assistance) it would be. If Capitalism works so well, how did "it" (an economy based on Capitalism) get so ill? Lack of ethics and regulation? Oh, that's right, the free market regulates itself. Just like the alcoholic who regulates his drinking. Excess is addictive.

    June 1, 2009 at 6:18 pm |
  185. Doug from Asheville, NC

    As an American communist, I can say without a doubt that American capitalism is alive and well. What Obama is doing is saving capitalism from itself. What the social-democrats at Pravda are doing are stirring up false assertions about "socialism." These accusations are repeated ad nauseum by the far right here at home. Red-baiting has served as an attack by the right on the Democrats for decades now, and this is no different.

    June 1, 2009 at 6:18 pm |
  186. Amit

    Many years ago when I was in 7th grade, I learned that the Russian newspaper, Pravda, was a propaganda-ridden syndication with no journalistic integrity. Now I know why.....

    'Pravda' means truth in Russian but this couldn't be further from it!

    June 1, 2009 at 6:18 pm |
  187. ED in RI

    Jack;
    Why don't the GOP dogs discuss GW's exit strategy from Iraq?
    Remember Rumsfeld, Wolfiwitz,Pearle,Bolton?
    Unfortunately, Obama has hired the wrong people to deal with the problem, in fact, the Wall street "neo-gods", that created this crisis.
    Ron Paul predicted this nightmare back in August 08! Trouble is, nobody listened.

    June 1, 2009 at 6:18 pm |
  188. Sach

    I think it's a period of resetting things. We can reset and set it up to operate in bettter way. But that will all depend upon how well system is reset and reinitialized. It's a kind of opportunity to do better and at the same time, but be ready to get a hit with bad decisions.

    June 1, 2009 at 6:18 pm |
  189. Scott

    It's been dead since Bush won in 2000. America has 2 choices on the table – Keep American companies alive with US Taxdollars or allow Canadian, Chinese, and European companies to come in and setup shop. The people made their choice with Obama. All great nations lose their power from excessive greed. America is doing the correct thing, giving the country back to its people and away from billionaires in Texas and New York.

    June 1, 2009 at 6:18 pm |
  190. Faust

    Capitalism is an idea. Ideas don't die. What die are brains, and in the U.S. economy the brains of capitalists have been dying for a while. What's been killing them? Greed.

    June 1, 2009 at 6:18 pm |
  191. David Kunz

    Due to the lack of education in this country by the hands of unions controlled by the Dems, there is no doubt the the majority of people hve the mentality of trailer trash and are becomming victims of a social State ran and owned by the Obama Administration!

    June 1, 2009 at 6:18 pm |
  192. Star Auburn Ohio

    we have been dead financial since 1971 when we went off the gold standard. wake up stop trying to blame this on Obama and turn around and look in the mirror all you smart americans we did this to ourselves none of them held guns to our heads and forced us to be greedy and live in excess for the last 40 years plus. we did this to our country and glad of it. we are buying cars which cost what we use to pay for a house and houses cost what it use to cost to make a building. wake up and stop being dumb and think the savior is coming it's a lie to make you ignorant and afraid. take responsiblity for yourself and quit keeping up with the jones. I am P***** the world was so nice in the 70's and then we went nuts for some reason. cheap and cheaper things and nothing saved for we just hand the plastic and go. I am so sick of hearing us WHINE ABOUT THINGS.

    June 1, 2009 at 6:18 pm |
  193. Devan

    Jack

    It has been a known fact that the US Government has over the past 50 years socialized risk and privatized profit as part of the Military Industrial complex. Now, we see the US Government coming out in the open with its investment in private enterprises and this time again the tax payers are footing the risk.

    Regards
    Devan

    June 1, 2009 at 6:18 pm |
  194. Mathew, CA

    YES!! We finally are noticing it. With the acceptance of Capitalism in our Democracy, it hits us back in the butt just about every decade. Pravda is correct, Us kids are worry more about pop culture then the classics, which is what really got us places.

    June 1, 2009 at 6:18 pm |
  195. Juliano Winkert

    American capitalism isnt over.

    I cant say the same about the american way of live.

    For years americans have spend more money than could pay.

    Now its time to pay the bills.

    However I thrust in Obama.

    Juliano Winkert
    Curitiba, Brazil

    June 1, 2009 at 6:18 pm |
  196. Nick

    Jack, this is ludicrous. With the thousands of private companies operating in the US, there is no reason to claim socialism because the government buys a large share of two or three of them. The only reason Obama stressed how little he wanted to be involved in the car business was so that the conservatives don't freak out, he probably doesn't give a hoot in hell either way what happens to the government's relationship with the car companies as long as the economy improves. The administration of George W. Bush started these economic policies. I'm not thrilled with Obama continuing them, but socialism it ain't.

    June 1, 2009 at 6:19 pm |
  197. Matt in Baltimore

    If our economy were descending into Marxism or socialism, you would have seen the US Government step back, let it the economy fail, and then come in with a SEPARATE, publicly-controlled version of private enterprise. Our government is trying to save those pillars of capitalism that have proven successful for decades, but are now facing on unprecedented trials.

    June 1, 2009 at 6:19 pm |
  198. John Rowe

    If American capitalism is, in fact, dead, it was the sheer greed and incompetence of our leaders that killed it.

    June 1, 2009 at 6:19 pm |
  199. pete

    I don't think that it is dead, Just not enough people will voice their opinions on the matter. I feel the US citizen has become tired of trying to voice their opinion . I mean really , have you tried to voice your opinion on anything lately. You almost have to give your SS number just to get your opinion aired where anyone will hear it anymore.

    June 1, 2009 at 6:19 pm |
  200. Craig

    Jack,

    If American capitalism is dead, George W. Bush killed it.

    President Obama gets criticized one way or another for every move he makes, and 90% of it comes from the party of "No." He didn't force any company out; rather he tried to extend their life by giving them more money the automakers wasted.

    GM declares bankruptcy today and the stock market has one of it's best days of the year & making it's highest close in how many months???

    Like the airlines, the automakers will emerge from this disaster better and stronger.

    June 1, 2009 at 6:19 pm |
  201. Lauren

    It certainly appears that American capitalism is dying. A few market scares and the government feels the need to get its hands into everything. I realize the government during the Great Depression likely didn't do enough to save the economy, but there's also a point when government does too much, and I think we're at that point.

    Lauren, Vail, Colorado

    June 1, 2009 at 6:19 pm |
  202. Garret Dauphin

    American capitalism is not dead. The heart and soul of business in America is small business. To say that capitalism is dead, just because the big corporations took a big hit, is wrong. The President said that the government's shares will ultimately be sold to individuals or other private corporations. There is no intention for the government to permanently own those corporations which it has bailed out.

    June 1, 2009 at 6:19 pm |
  203. Gregory T. Biribauer

    If U.S. Capitalism is defined by $100 million bonuses to Wall St. CEO's, yet hospitals dropping off sick people in the street because they have no health insurance, then good riddance. Is Marxism the answer? Of course not. Yet a new version of capitalism, redefined by compassion, lack of greed and a level playing field, is not only due, but unavoidable.

    June 1, 2009 at 6:19 pm |
  204. David Riddering

    For the first time Pravda y right. And this comes from people who really know Marxiism economics and its failures. American capitalism is not quite dead, but Dr. Obamas' treatment is more like Dr. Kevorkians' by increasing deficit spending, government control of the economy, etc. It is a prescription for catastrophic failure.

    June 1, 2009 at 6:19 pm |
  205. Henry

    Of course not. Goverment is fuffiling its protective role. The enterprising spirit of humans, the bedrock of capitalism, is alive and will forever be in this democracy. Where was Pravda during Stalin and Brezhnev? They ought to know better.

    Henry
    Lithia, Florida

    June 1, 2009 at 6:20 pm |
  206. carol

    Individual rights are being undermined, and contractual agreements with said individuals are being 'legally' denied by governmental dictate; what more do you fellow Americans need to witness to accept your 'well-earned' fate. If you choose to ignore ACTIONS of your government, you will live out said consequences; shame on YOU !!!

    June 1, 2009 at 6:20 pm |
  207. Liz

    The first 100 days has propelled us toward the end of Capitalism. The next 100 days looks like it will tank her even more. Our only hope is for the US voters to wake up and vote in Dems and Pubs who are willing to put on the brakes. Let's not turn ours into another regime like in Venezuela or Cuba.

    June 1, 2009 at 6:20 pm |
  208. Neil Donovan

    Yes ...a kind of American capitalism is dead ...the kind where a CEO can say, "There is no job that is America's God-given right anymore." (Quote from Carly Fiorina.)

    June 1, 2009 at 6:20 pm |
  209. Allen from NJ

    Jack,

    The truth is, America has never been a "true" capitalistic economy since the early 20th Century. Regulations of industries, floor and ceiling prices of certain goods, and worker safety requirements all go against the principles of Adam Smith's theory.

    America even stumbled into Fascism during World War II, although nobody will acknowledge it; with the government directing factories to manufacture airplanes instead of cars, guns instead of soup cans, bullets instead of spoons. The sad truth is, there IS no "capitalism" to begin with.

    I'm a high school student and even i, a teenager with only a handful of years of formal education, can see how awful this nonsense is. American capitalism is a sham, a bamboozlement to appease the public. There was never any "American Capitalism" to begin with.

    June 1, 2009 at 6:20 pm |
  210. Ken

    Our Russian friends may want to keep their eye on the ball in their own country. So far, they've failed at capitalism and weren't too successful with Marxism, so they may want to save their obituaries for the Russian economy. As for the "swipe" at President Obama's election, it only shows that Pravda is still controlled by the government because Putin was an ally of President Bush and Pravda is doing his bidding. Good going, Russia... you truly are the beacon of capitalism, democracy, and freedom of the press. Yeah, right.

    June 1, 2009 at 6:20 pm |
  211. Stallone

    In the Communist Manifesto, Marx called for the victory of the proletariat over the bourgeoisie. In a sense, that is occuring with GM's bankruptcy, as the unions take control of the company. It's not necessarily a bad idea, as past ideas (i.e. New Deal and Social Security) certainly borrowed ideas from socialism. Surely, only time can tell.

    June 1, 2009 at 6:20 pm |
  212. Steven MacAlpine

    Hopefully. Americans are so brainwashed they think socialism is the greatest threat to freedom. I say socialism now! Those who demonize socialism have the most to loose under it.

    June 1, 2009 at 6:20 pm |
  213. Terri from Laurel

    Yes – it seems that our brand of capitalism has imploded under the weight of greed, lack of accountability, failure to think long term and loss of commitment to the overall health of our nation – and the world. . Left to our own devices, we would have wrought more destruction than these interventions will create. Likely, the next iteration of American economics and democracy will show we have learned from tough lessons.

    June 1, 2009 at 6:20 pm |
  214. Bruce Parks

    American capitalism is VERY ill due to idiotic government, wallstreet and buisness actions over the last 10-15 years. Unfortunately the Federal Government appears to neither supports capitalism nor cares about the longer-term value of the dollar.

    This 1-2 combination may be fatal.

    June 1, 2009 at 6:20 pm |
  215. Chuck Wright

    Jack,

    No. US Capitalism is not dead! Apparently the two bit Russian Newspaper hasn't heard of Google, Microsoft, Apple, Merck or the Rap Music Industry!! All doing well with Capitalism in this poor economy. If they don't shut up, I am going to ask Steven Jobs to take 10% of Apple's profits and buy their entire damn country and economy!!!!!!

    Chuck

    June 1, 2009 at 6:20 pm |
  216. omar

    Hey Jack. I thought capitalism is the investment of money and ownership. The middle class has to pay for the taxes of the upper class and the middle class has to pay for the lower class. From what I know capitalism is dead.

    June 1, 2009 at 6:20 pm |
  217. Frank Louisiana

    Capitolism is not dead it has just been sent over seas starting with Bill Clinton and NAFTA jobs have been leaving the USA for 20 years because the people who profit from these companies want more money. They make the goods over seas with cheap labor and sell it for the same price as if Americans made it. The bottom line is America is turning into a 3rd world country. What happened to the threat of Communism. China is a Communist state but the USA is doing a big business with them Hmmmmmmmmmmmmmmmm

    June 1, 2009 at 6:21 pm |
  218. Chris from NJ

    It's not quite dead ....but it IS dying. Between the ongoing intervention by the Federal Reserve (who apparently can do no harm), some overspending and continuation of entitlement programs by Republicans, and the unabated socialist agenda of the Democratic party starting with FDR, then LBJ, and now BO – YES capitalism is dying. Know any good countries that accept dual citizenship ?

    June 1, 2009 at 6:21 pm |
  219. Ron - Oklahoma

    Yes, capitalism is dying – just as the Frankenstein Monster that it had become. Because of some of the life-saving tactics that are being administered, it may revive – but hopefully as a more middle-class friendly being. When capitalism just became a tool (in most instances) to make the wealthy wealthier, it became doomed. If the middle class just continued to become the lackeys of the rich, a revolution would have become inevitible. Let's all hope that the measures being put in place return capitalism to an institution that benefits the middle-class as well as the wealthy. If not, God help us all.

    Ron
    Oklahoma

    June 1, 2009 at 6:21 pm |
  220. Karen Southard

    Dear Jack,
    Not only do i think american capitalism is dead, it appears more and more that america itself is approaching the obituary column. It takes 3 jobs to keep up one household, leaving children to raise themselves and live on fast food resulting in fat and unhealthy children, and extremely tired parents. in addition, everything being done now is happening too late. the people that would need the cars are either now unemployed or bankrupt themselves. Everything got too high and too easy over the past decade. If you didnt have the money, charge it. the offers of tax rebates to get new windows and energy efficient homes....who can afford the windows? this is a big fat snowball just rolling down the mountain getting bigger and bigger.
    Karen
    Owensboro, KY

    June 1, 2009 at 6:21 pm |
  221. Jimmy

    Although I do not believe Capitalism is not dead, i believe it's on extreme life support. I understand what the President is trying to do to help our economy but sooner or later, some BIG companies are going to have to hit the bottom in order to come back up. I was once said "if you help a caterpillar out of it's coccoon, you will hurt it rather than help it.

    June 1, 2009 at 6:21 pm |
  222. Jim - Massachusetts

    Look, the Wall Street elite have been bilking the rest of us for years and we allow it. Some of these debt default swaps are nothing more than a ponzi scheme and the government hasn't done anything to stop it. Look at oil and gas prices right now, they are going sky high while demand remains low and inventories high. The market isn't working and hasn't for a couple of years. We need to limit oil and gas purchases on the market only to those who would actually sell it. Removing these speculators who bilk the American consumer is going to be necessary or we'll really see hell break loose. We can't afford $5.00/gallon gas no matter what the pundits claim the market can handle. Where do these pundits live? Mars?

    June 1, 2009 at 6:21 pm |
  223. M. Cooke

    Yes. Captialism is dead. It committed suicide.

    June 1, 2009 at 6:21 pm |
  224. Chris

    I don't see how it is dead. The CEOs of these major companies have crippled the economy. If people are greedy to the point of ruining the economy for everyone else, then the government absolutely has the right to step in. If the CEOs are managing the companies well, then don't fix what's not broken.

    June 1, 2009 at 6:21 pm |
  225. Dennis Jaques

    Jack, U.S. capitalism is not exactly dead but it IS controlled by the corrupt and self-centered, self-serving 12 groups who own the Federal Reserve. This corrupt group combined with the World Bank and International Monetary Fund control the world money supply, oil pricing etc.

    The Fed MUST be destroyed and the U.S. Constitution reinstated in full to reestablish the Republic for which many men gave their lives, fortunes and sacred honor long ago. We MUST stop this Fed now or U.S. capitalism IS DEAD.

    Wake up Americans; we are hated because of these corrupt wealthy elite – not oursekves at all. Get rid of the Fed owners; i.e. the owners of the 12 Central Banks:

    – Rothschild Bank of London
    – Rothschild Bank of Berlin
    – Lazard Brothers of Paris
    – Israel Moses Seif Banks of Italy
    – Warburg Bank of Amsterdam
    – Warburg Bank of Hamburg
    – Lehman Brothers of New York
    – Kuhn Loeb Bank of New York
    – Goldman, Sachs of New York
    – Chase Manhattan Bank of New York

    We have largely lost our nation to these people.

    June 1, 2009 at 6:21 pm |
  226. Fernando

    This is nothing new; anyone familiar with the Russian press knows they relish in stories of the "imminent" fall of the United States.
    This is the same press who failed to see the Soviet empire falling in front of their noses or the subsequent meltdown of their economy in the 1990s.
    Russian reporters would be better served by looking at the disgraceful state of freedom of the press in their country and not engaging in silly speculative games about the US economy.

    June 1, 2009 at 6:22 pm |
  227. Dylan

    Capitalism as it has become is clearly under duress. If this results in the emergence a healthily regulated, responsible, and socially/globally aware economic system, let it be so.

    June 1, 2009 at 6:22 pm |
  228. Luis - Puerto Rico

    It's unfortunate that the trend is nationalization of corporations, higher taxes, skyrocketing deficit, government control (not oversight) of companies, etc.

    These are all characteristics of a socialist society...

    Scary to say the least!!

    June 1, 2009 at 6:22 pm |
  229. Sue Norris

    No, American capitalism is not dead. The American capitalists who have been robber barons have created a mess similar to the mess they created in 1929–greed and excess. There is hope. There is a fellow in Wauseon Ohio who has developed a car engine that can get 110 mpg and has started production. Why havent the news people, the leadership of the BIg 3, and the government not made an effort to seek this guy out. He has started production with 10 employees and hopes to grow substantially. Check this guy out for a really hopeful development.

    June 1, 2009 at 6:22 pm |
  230. KEVIN FROM TORONTO

    It's not dead Jack – just resting. North American style Capitalism isn't perfect – but its the best we've got. Did you buy something today and were there lots on them on the shelves? It's going to take alot more than an economic downturn to convince me we have it wrong.

    June 1, 2009 at 6:22 pm |
  231. Natalie Mason Gawdiak

    Old fashioned capitalism may be in its last throes–let's hope so, but Russia should not celebrate. There is a SMART Capitalism called "Natural Capitalism," which shows if we follow Nature logically and carefully, we can still be green and make a profit. Everyone should buy and read the amazing book by that name– "Natural Capitalism: Creating the Next Industrial Revolution." by the genius team Paul Hawken, Amory Lovins and Hunter Lovins.
    If we take the lessons given there, we'll be all right!

    (Here is info on it from Wikipedia: "Natural Capitalism: Creating the Next Industrial Revolution is a 1999 book co-authored by Paul Hawken, Amory Lovins and Hunter Lovins. It has been translated into a dozen languages ...In Natural Capitalism the authors see the world's economy as being within the larger economy of natural resources and ecosystem services that sustain us. This implies that we should attribute value to things such as human intelligence and cultures to hydrocarbons, minerals, trees, and microscopic fungi. The authors argue that only through recognizing this essential relationship with the earth's valuable resources can businesses, and the people they support, continue to exist. The book has many practical suggestions for companies interested in a sustainable future."[2]

    June 1, 2009 at 6:22 pm |
  232. Chris (San Antonio, Texas)

    I don't think so. Just become some Russian Newspaper thinks that we're riding into Marxism due to the bankruptcy of General Motors and the election of President Obama doesn't mean they're right. We need to revamp Capitalism but end the selfish greediness that the big companies cling onto. Pravda, back off and let us live a better life. So my one answer for this is: No! It's not dead. Socialism will not come! Period!

    June 1, 2009 at 6:22 pm |
  233. Nathan columbus ohio

    The end of Americas financial prominence is the result of corporations paying executives hundreds of millions annually and then running their buisnesses on credit. When the economy turned south all the money needed to stay afloat was all in peoples pocket and not in a place to save the companies. Obviously the executives were only in it for the money and not interested in the corporations they were running. Well soon the private companies will soon be gone. I hope the government doesn't make us march like the North Koreans. I don't think I can lift my leg that high.

    June 1, 2009 at 6:22 pm |
  234. C. Farrell, Houston, Tx

    It would take a bigger foot on the neck of Americans to determine that American capitalism is dead and Russia's foot isn't big enough.

    June 1, 2009 at 6:22 pm |
  235. Peter in East Lansing, MI

    Yes American Capitalism as we know is dying. A new more regulated capitalist system is coming into effect, American can no longer sustain the unregulated anarchy of monopoly capitalism. We're not moving into European Social-Democraic "socialism", Soviet Socialism, or Marxism in any form, but hopefully we're taking more steps forward to a more progressive America, and maybe someday Socialism USA.

    Also with the announcement of GM's bankruptcy filing today, I stand in solidarity with my father and his brothers and sisters in the UAW, especially Local 602

    June 1, 2009 at 6:23 pm |
  236. Andrew

    Gee Jack, We're reading Pravda for the Obituary on America now? Your interns have got to do a better job surfing the web for downer news stories than that. That "Truthful" news team over in Moscow has been predicting the downfall of Capitalism since the Revolution of 1917, and they've NEVER got it right, it's just wishful thinking on the part of a bunch of tired old Marxists.

    America will carry on because that's what we do, everytime someone has written our obituary, we've come back stronger than evers. So smile Jack, it'll be good for the lines in your face!

    June 1, 2009 at 6:23 pm |
  237. Jeff in Memphis

    No Jack,

    Capitalism is not dead yet, but the President needs to announce his own exit strategy for these endeavors and let other industries know that the Fed may not be there for them.

    The failure of GM would have rocked our economy...This bailout/ownership had to be done.

    June 1, 2009 at 6:23 pm |
  238. Dale

    Well Jack, one things for sure, capitalism has killed America. Capitalism that wanted more profit from production, and started reducing our industry over fifty years ago. More recently capitalism that wanted to sell more houses, so it collaborated with a capitalistic lending industry, that wanted more profit, so it produced mortgage products to achieve that, at our expense. Maybe we should go socialist, because without a doubt we will all be paying the bills the capitalists leave us. Just like the people in all the other third world countries around the world!

    June 1, 2009 at 6:23 pm |
  239. george

    jack thats like asking if american greed is dead. the answer is no it's not it's just on an unwanted furlow for now.
    our economy has been mismanaged for some time now and the symptoms are presenting themselves in ways that now effect all of us.
    greed coupled with poor buisnes models should not be interfeared with by govermant. no matter how rite it seems.

    we should allow the banks and the auto industry to fail. this seems to be the way we have fixed ourselves in the past.
    george
    chster,ct.

    June 1, 2009 at 6:23 pm |
  240. Brad Adams, Moscow

    Nature as well as politics will aways try to return back to a state of balance. A decade and a half ago Russia moved from socialism their own style of capitalism. Not the same level of Capitalism as in the west but something new. America has now found itself also in a state of change moving away from capitalism to a form of socialism. Capitalism is not dead it is just evolving to find the proper balance between the old soviet style and the hyper American way. Welcome to Russian style social capitalism.

    June 1, 2009 at 6:23 pm |
  241. Phillip H

    Is American capitalism dead? Yes

    President Obama insists he has no interest in running GM.
    Didn't Govt. say the samething about Amtrak?

    June 1, 2009 at 6:23 pm |
  242. Tal in British Columbia

    Taking a note from a hybridized Chinese Communism, American Capitalism no longer exists in a pure form. We could restate as "Commerce-Driven Economy Founded Upon Socialistic Structures and Militarized Proclivities summarized as Modern Democracy." Basically, America needs a new term for its modality of existence.

    June 1, 2009 at 6:23 pm |
  243. Phil Dunwoody

    No, but it appears to be on life support! When a communist news paper comments like Provda has, why do we give them credibility? If our government had not stepped up to the plate and bailed these companies out, where would we be then? Would we really be better off if all of these companies had simply gone out of business?

    June 1, 2009 at 6:24 pm |
  244. Ravi

    I believe that American capitalism is morphing. It is realizing that for it to survive, it has to take into account the well-being of its wheels namely the hard working middle class. The destruction of the middle class in the last eight years caused the current predicament. The middle class represents the largest body of consumers and is the bloodline of a good capitalistic society. We lost our focus and killed the proverbial golden goose that lays the golden eggs.It will find its balance in due course. Let's all be patient.

    June 1, 2009 at 6:24 pm |
  245. JD

    No, it is not dead, but the rampant greed and lack of oversight of the last several years has set our economy back by years, and forced the recent emergency measures to try to save our economy from total collapse. It is not to early however to begin considering what "exit strategy" to employ.

    June 1, 2009 at 6:24 pm |
  246. Vanella Jackson-Crawford, Washington, DC

    I hope so. A system that has built its wealth on the backs of slaves, Chinese, Mexican laborers and the exploitation of its weakest, is bound for a major change. Capitalism has lasted longer than it should have and maybe now, there can be more equity in this system. The one percenters have their wealth and will be alright. Joe the Plumber and others can now begin to actually enjoy the sweat of their labor.

    June 1, 2009 at 6:24 pm |
  247. RookyJ

    American Capitalism is fantastic for up and coming new businesses, but it can be devastating to an established business. Companies that take advantage of our "system" are required to continually grow, and be more and more profitable each year, otherwise be forced to pay back all the stockholders and face collapse.

    June 1, 2009 at 6:24 pm |
  248. Ashley from Walnut Cove, NC

    Capitalism dead? I can certainly see how a Russian news agency would suggest this. Last semester, I was in a Russian literature course and I have been studying Ayn Rand's objectivism for two years solid. When one zooms out, it certainly appears that the government is taking over just about everything and that the people are losing control. But from MY level, the level of a college student, I see innovation coming from inspiration. Sometimes this innovation is smaller than others; people cutting lawns for money. Other times, however, I catch my fellow art students putting what they very clearly know out there and taking risks with trades they may not know as well. Students aren't the only ones taking on such risks. My father, laid off all but a few days a month, now saws lumber, fixes equipment, works with horses, and does as many tasks as he can possibly fit under his belt to keep us afloat. This is the independant spirit that people dream of–a bit stifled, but still breathing. Essentially, capitalism is not dead as long as there are people who are willing to struggle through and accept what they earn modestly. This is not a time for greed, but rather a time for us to work through our problems out of necessity. Regardless of what the government does, we have control over our own finances. Some people just want the control more than others.

    June 1, 2009 at 6:24 pm |
  249. Chems

    Jack,

    I use to live in Russia Moscow, it was in the early 90's at that time the president was Gorbatchev, before the Perestroika I remember the long line the Russians were going through just to buy eggs, milk and eggs. Clearly, the person who wrote that article on the PRAVDA has a short memory or does not know what capitalism means. We are doing OK and if he doubts that he only needs to look back and compare.

    Thanks,

    June 1, 2009 at 6:24 pm |
  250. Raul Blanco

    The concept of American capitalism, as we know it, is no longer what it used to be. America is now a part of a capitalist world where countries depend on each other's economies, as we're just experiencing it. We're no longer the one with he most chips. We're going back to basics like our parents taught us, "learn to share". American capitalism is not dead, it has just transformed, or should we say evolved.

    June 1, 2009 at 6:24 pm |
  251. Winston Johnson

    Yes, American Capitalism committed suicide thanks to the beginning of deregulation during the Reagan years and continuing through Clinton and both Bush administrations. Both parties are to blame, but the republicans absolutely get most of the blame for their total religious belief in "unfettered capitalism".

    And Pravda is right about a dumbed-down populace primarily due to the corporate owned media which also owns congress.

    The ignorant populace is also kept ignorant by religion, primarily evangelical christianity, but ALL fundamentalist religions get credit.

    June 1, 2009 at 6:25 pm |
  252. Pete Schulze - Oregon

    American capitalism was once based upon Americans making things of value from raw materials. Today's board-rooms are worried about just one thing – the bottom line. So they are shipping all the jobs overseas to third world nations leaving Americans with low paying jobs.
    We were once the greatest creditor nation. We are now the largest creditor nation.

    June 1, 2009 at 6:25 pm |
  253. Lynn, Columbia, Mo..

    It's just "mostly dead" (from the Princess Bride). It will never die. There are too many rich powerful people in this country to see to that.

    June 1, 2009 at 6:25 pm |
  254. Alexander

    PRAVDA definitely knows what it's talking about. The leading marxist newspaper for 100 years can easily recognize marxists trends. Shouldn't it be an eye-opener for left-leaning politicians? It is time for us to listen to a voice from a country who was devastated by marxism and brought back to life by capitalism.

    June 1, 2009 at 6:25 pm |
  255. Don Lanier

    Well its finally come the supposed collapse of American Capitalism, HUMBUG Americas been brought down because the Lobbys Bought and Sold America, The sold out the workers who built these conglomerates when they got Nafta passed, then they quickly destroyed the Unions because they moved the Manufacturing base to Mexico, or any other place they could pay workers 2 bucks a day, no insurance, no benefits, no FUTURE. We the People were dumbed down by the very Politicians that stood before us and proclaimed Americas back, and Mission Accomplished, Bought and Sold to the highest bidder, with not a care that the workers cant buy homes, Put Kids in school, Build a future and have a decent retirement.

    From Reagen to Clinton and Bush our Governemtn has failed us due to a party line that supports greed, and money and deals. Who cares about the people, you know US the TAXPAYERS....We build the best products in the world with pride and quality, but we want a decent wage and a future, not a cardboard box, Whose gonna buy the cars, the Homes, The Goods when the People are all on welfare

    Open your eyes people your very existnece is being stripped by the Greedy Multi Nationals as they pay the lowest wages in history and reap huge profits. Who cares what happens to US, The Taxpayer.

    June 1, 2009 at 6:25 pm |
  256. Chris (Norway)

    No,

    The American smallbusiness (person) is getting a chance to flourish and prosper with the emergence of policies that don't don't tilt the playing feild to backroom puppeteers and a good ole' boy network where only a the 'lucky' few get super rich.

    Unfortunately , we may never know if Obama is not given the time required to have his policies take effect and unfold past 2010.

    There might be a knee jerk vote sweeping those same good ole' boy puppets back into powere for both houses and yet again things will come to a screeching halt.

    we shall see...

    June 1, 2009 at 6:25 pm |
  257. Roger

    Pravda just put the nail in the coffin
    Cafferty, the socialist and the so called minorities must be happy after all this is what they were looking for a long time.
    To convert the US into a second class country

    June 1, 2009 at 6:25 pm |
  258. Frances

    I certainly hope capitalism is dead ... or at least on the way out the door! We need to start a new era of responsible government working together with responsible citizens. We ALL need to be pitching in for a better future and toward securing our nation's finances and social programs. This 'every man for himself' attitude that has flourished to the point our country is in peril has got to stop!
    We need regulations, responsible government, and to all realize that it's our mutual responsibility to bring America out of this pit and into a new era of self reliance ... Working together (and yes, paying some extra taxes) to build ourselves up and protect our citizens.
    Big business profits are great but they have to stop leveraging our individual tax payer's investment to make those profits!

    June 1, 2009 at 6:25 pm |
  259. Jim D. S.C.

    Capitalisn is not dead yet, but it is dying quickly. Don't look at the source, heed the content- education based on "pop culture" , state take over of our corporations-you get the picture. Never in my life would I have believed that the state run Pravda would be stating true facts- to bad they are about the United States.

    June 1, 2009 at 6:25 pm |
  260. Susan Ellis

    On American capitalism – the sooner Americans can enjoy the benefits of life that French people have: long paid vacations, free comprehensive health care prime among them - the better, whether you call it socialism or something else. I wish all Americans could enjoy the "government health care" that federal employees such as myself have. If the public understood the benefits of same they would vote for it at once. We can choose our doctors despite what Republicans and other foes assert.

    June 1, 2009 at 6:25 pm |
  261. corey dunigan

    Maybe we should all just stop listening to people like Pravda and their propaganda but hen you would be out a job.

    June 1, 2009 at 6:25 pm |
  262. Rob

    Capitalism may not be dead yet, but it is well on it's way, along with our entire infrastructure. Do the American people not realize that the government is slowly but surely taking over big business?? Is the auto industry a traditional government function? Why not sell or give GM to Ford (did not take any stimulus money), to do with it what it pleases. I do not foresee the American people purchasing a car from a company that is in trouble. What is a car worth if you can't get parts or service (remember the Yugo).

    We all know that the government has never been a profitable entity ... remember the stories of the military paying $500 for a hammer. GM operates on a deficit yearly due to high health care costs and retirement payments to it's retired employees. GM is a money pit that will continue to waste our tax dollars. Socialism is knocking on our door step and we have to do something. Imagine wealth distribution, what is the motivation to attend college if everybody gets the same thing no matter what they choose to do with their life.

    The American dream is dying right in front of us and we are letting it happen!!!!

    June 1, 2009 at 6:25 pm |
  263. Robbie

    Capitalism has been dying for the last 10 to 12 years. The Enron scandal was the first sign that it was dying. The only way to correct it is to start holding ourselves responsible for our actions and have to answer for the bad decisions we make. The US Govt. should not be bailing out any company...we have never bailed out a company before and we have made it through so far.

    June 1, 2009 at 6:26 pm |
  264. Ray

    Jack, welcome to the United Socialist States of America. The Government of the People, by the People and for the People has finally perished from this earth. The major nations of the world are laughing at us and we continue to entertain them with a preformance that can only be compared to a major Greek tragedy.

    June 1, 2009 at 6:26 pm |
  265. Jackie

    I feel we have seen that non of the "isms" work when we are concerned about the well being of large numbers of people.

    June 1, 2009 at 6:26 pm |
  266. marty b

    its a pretty sad day when former communist country has figured it out...whats going on it.....when was failure a bad thing....the goverment in washington can not even control its self and spending...there going to run our banks and car industries....that goes for libs and repubs...its time for people in this country to stand up and get a back bone...and for god sake in washington...quit printing money that we do not have...

    June 1, 2009 at 6:26 pm |
  267. Norman

    Our capitalism is not dead, but it is slowly dying.
    With the federal government being able to intervene by taking a share in big companies such as GM and AIG, our economy is turning into a socialist system. OUR FOUNDING FATHERS did not want the government to interfere with our inalienable rights, which are life, liberty, and the PURSUIT of HAPPINESS.

    June 1, 2009 at 6:26 pm |
  268. Kirk - Tuscon, AZ

    Despite Prava's credibility, the sentiment of the article rings true. The history books will say we tried to be all things to everyone and became our own worst enemy.

    June 1, 2009 at 6:26 pm |
  269. Jim - Massachusetts

    You can't totally blame the unions for GM's downfall. The root cause is the upper management and board of directors. As long as these were bilking GM for their millions, they didn't care what the union workers were receiving. This is what will cause the downfall of all American businesses and then after they outsource everything, who will they sell to?

    What irks me the most is that we will bail GM out of their troubles and they will become a marketing company who simply sells vehicles they make in China.

    June 1, 2009 at 6:26 pm |
  270. Carsten Carlson

    Jack,

    It will soon be fouled up beyond all repair. Regretfully our work ethic has been replaced with a sense of entitlement. Before you know it, there will be nothing left. We headed down the path taken by a wealthy Argentina who followed the socialists ideas of Juan Peron and became insignificant.

    June 1, 2009 at 6:27 pm |
  271. Nancy from Fresno, CA

    Hopefully American Capitalism on Steroids, or American Corporatism, is dead. Capitalism suffered at the hands of the greedy who used the trust of the American people to manage us in such a way that it has kept the poor and the middle class under their thumb while they laughed all the way to the bank. If humans could be trusted to play fair, President Obama and the taxpayers would not have to be involved at all...we would have never gotten here. There is no pure ideology that works, and we're fooling ourselves if we can't accept that we need (and have) a combination of socialism and capitalism. To the greedy capitalists who got us here: Fly right and we won't have to mess in your business!!!

    June 1, 2009 at 6:27 pm |
  272. Karl from SF, CA

    We haven't seen capitalism in this country in over a decade. It's been unfettered greed. Capitalism can only survive when it’s kept in toe with some regulation to keep the capitalist honest. In the past eight or ten years we have seen a return to the industrial revolution with low wages and high profits. It will turn around though.

    June 1, 2009 at 6:27 pm |
  273. Dan Nasrala

    God I hope not Jack, I am an immegrant who got educated, experienced, and quite well off on my own because hard work pays off in this grea country. It seems some expect it to be handed down. This country is young, Russia is been to hell and back, we are just getting on the way. Thanks for our present CEO it's happening at an exponential rate

    June 1, 2009 at 6:27 pm |
  274. LUCI - ILLINOIS

    No. This country in so debt ridden, thanks to the Republicans.
    You can call it whatever you want to, but they gave everything to the rich, now there aren't enough jobs to keep the wealthy satisfied.
    The GOP gripe about the new admistration trying their hardest to dig us out. They should be shutting up and helping out, instead of running their mouths.

    June 1, 2009 at 6:27 pm |
  275. Helena

    Capitalism is dying right before our eyes, and most Americans are either in a stupor or too naive to really understand what is going on. I am among those who foresaw every step of its demise during the last electoral campaign, and wondered when Americans would come to their senses and realize what is happening to their cherished ideals. The present administration is dismantling America, piece by piece. Pravda has hit the various reasons for the present disintegration of what was once known as America on the nose

    I gladly emigrated to America half a century ago this year, to move away from European socialist and communist ideologies. I never thought I would live to witness what the last election brought to pass and will continue to pass while Americans doze off.

    June 1, 2009 at 6:27 pm |
  276. Prosper

    Jack, to the Russians I say we shall overcome, we will come out stronger than and ever before from this crisis. Between the two countries, I still choose to live in the US of A.

    June 1, 2009 at 6:27 pm |
  277. K Danna

    Marxism, communism, socialism are all rigid ideologies which is why they break eventually and why they cannot understand that democracy and capitalism are fluid, organic systems that can grow and correct with the times. Far from dead, we are evolving the basic ideals of our country to serve the needs of a more open community.

    June 1, 2009 at 6:28 pm |
  278. Byron

    Not dead, but on life support. The American people have become lazy and disconnected from the world. There seems to be a pervasive feeling of entitlement and a need for instant gratification.

    History has shown that the role of great world-powers rotates and in the modern age that trend is accelerated. I think the U.S. has seen its days at the top and it's time for a new leader. We could rebound as a country, but the older generation doesn't have the time left and the newer generations are just sitting in front of their video games waiting for the future to be handed to them.

    Hopefully the new super-power will be benign, but that has rarely been the case.

    June 1, 2009 at 6:28 pm |
  279. Ian

    Jack, why does everyone seem to think that capitalism is an institution that cannot and will not change in any way? I watch these people yelling about capitolism becoming socialism under President Obama, and I couldn't disagree more. He's changing current capitolism, to shore up weak aspects of it, and to incorporate successful elements of other economic systems; he's trying to make our economy stronger and more resilient, how is that a bad thing?

    June 1, 2009 at 6:28 pm |
  280. Gordon from Barbados

    Everything in life needs structure.The sad state of the capitalist system began with the deregulation that began during the Clinton years. Without rules people like Madoff will continue to corrupt any system. The lines must be drawn to protect the little guy.Thankfully a bitter pill is being administered by the present administration and I hope it will be for a short time.We need laws otherwise the lawless will destroy us all.

    June 1, 2009 at 6:28 pm |
  281. Robert

    Of course not. It is more silliness.
    This is an economic emergency brought on by lack of effective regulation.
    The 'Capitalists' on Wall Street created a 'Shadow Economy' bigger than all the stocks and bonds outstanding in the United States. That 'Shadow Economy' consisted of bets – Credit Default Swaps and other derivatives. They funnelled productive wealth into non-productive gambles.
    New hires in the GM of the last few years were paid 150% of the Federal Minimum Wage of 30 years ago, adjusted for inflation.
    You advertise a job paying 150% of the current minimum wage today,and see how many job seekers you get. It is not an incentive.
    Take the 1st Class postage stamp price of any year in the post-war past. Divide it into the current stamp's price. That number is the inflation multiple from that year to now.
    It will show how wages have fallen for more than 2/3's of American workers. That is what will kill Capitalism. Screwing your population.

    June 1, 2009 at 6:28 pm |
  282. John Flowers

    Jack,
    Capitalism has been dead especially in this country, for many years. What presently exists is a pretense of capitalism, when our elected officials started taking bribes from industry lobbyists to perform the will of those same Industries and the misnamed US Chamber of Commerce that was the beginning of the end. The end was inevitable. The problem that it was done so neatly that most people did not or could see it coming. No one seemed to notice that the welfare of the peole was being ignored.

    John

    June 1, 2009 at 6:28 pm |
  283. Don

    Funny when the capitalist system goes through a crisis everyone screams it's dead and blame the repairmen!
    Pravda doesn't have enough experience with the business cycle to know how robust capitalism is or how a crisis is used to improve the system: The robber barons have been dismantling FDR's set of controls for 70 years and finally suceeded in destroying themselves.

    Time now for a new set of controls for a new brand of robbers...

    June 1, 2009 at 6:28 pm |
  284. Emma Ashtabula, Ohio

    Is American capitalism dead? Jack, there is more than one form of capitalism. Since 1995 our politicians and the private sector implemented the draconian tenets of corporate oligharchy under the guise of a 19th century version of free market economics.

    Through privatization, the legalization of corporate fraud, racketeering and extortion and government – corporate partnerships set up by free market political fanatics our cities, counties, states and the federal government have gone bankrupt. Yes, free market economics should be dead. China has it wrong, this is free market economic fascism, not marxism.
    Time to go back to a 'mixed economy'. We the people must demand a return to a mixed economic system.

    June 1, 2009 at 6:28 pm |
  285. Axl in Iowa

    Duh Jack,

    A whole lot of Americans have been saying this for a long time now. Soon as O started showing glimpses of his socialist ways. Not sure if it's officially dead yet, but it's gonna be if things continue as they have been.
    Unfortunately Pravda is spot on. The worst part is... Most of you seemingly brainwashed, O luvin' Americans seem to be embracing these socialist ways. I'm yet to see a single public demonstration opposing it. Complacent we must be. Or just stupid.
    I'll be happy to jump on the first anti-O, I mean anti-bolshevism band wagon to come a-long.

    June 1, 2009 at 6:28 pm |
  286. scott cooper

    Is capitalism dead?

    Not a chance. The new leaner meaner GM will be better for the US and the GM workers. Chances are American companies will continue to overpay their top executives. There has never been any kind of fairness of worker pay in our open market, this is one of the key traits of capitalism. Our government has done everything it can to avoid nationalized Health care because it is just to profitable for major health care companies. These are the signs of capitalism that never dies.
    Scott Cooper

    June 1, 2009 at 6:28 pm |
  287. Nancy

    I agree with Pravda about American capitalism being dead – I firmly believe that past Republican administrations helped to destroy it. However, I don't blame President Obama for the way he is addressing our continuing global crises. I would ask Pravda and the Republican Party if they would really blame a janitor for the mess that the second-grader made in the hallway.

    June 1, 2009 at 6:29 pm |
  288. Brian Tourville

    Good Old Fashioned Unregulated American capitalism trashed our Financial Services and those of our Trading Partners.

    Good Old Fashioned Unregulated American capitalism traded Educating our Children for Green Card Importation of Degree Holding Aliens to save Money.

    Separation of Church and State is a Good Thing.

    The American Auto Makers crashed after the Financial System took it's toll on Employers – remember:

    GM Stock was @ $40.00 share just prior to the crash.

    The Wealth of a Nation is measured by it's Manufacturing and Exports.

    Good Old Fashioned Unregulated Capitalism eliminated Market Management regulations then shipped American Manufacturing Jobs Overseas to make that extra bit of Profit abandoning American Workers:

    Real American Patriots these Corporate States are...

    Real American Capitalism now has our Energy – Fuels Futures being sold right next to Gold Futures .

    Fuel per bbl pricing has NOTHING to do with actual Usage – it's all
    Hedge Funds & Investment Funds driving at the Pump Pricing – fleecing American Families and Manufacturing while Lying to the Public claiming 'World Usage'.

    Our Media plays along with these abuses then asks us if 'American Capitalism is Dead' when we vote in a President that might actually do something for the Consumer / Family / Stateside Manufacturer.

    When I see Soviet Uniformed Troops handing out Whoppers at Burger King – for Free – I'll consider the Questions Validity.

    June 1, 2009 at 6:29 pm |
  289. Woody

    Capitalism needs socialism. Left on its own, greed ultimately prevails. Furthermore, socialist manoeuvres are always used to bail out capitalism. If it isn't apparent now, I don't know what it will take. Besides, there is already a plethora of socialist workings in the USA: medicare, the postal system, social security, unemployment insurance...

    There are positive aspects to both, and "socialism" shouldn't be used as a buzz word to promote fear & negativity.

    June 1, 2009 at 6:29 pm |
  290. Mike

    American capitalism died when Congress acquiesced to Bush and Paulson’s demands to bailout AIG and the rest of Wall Street. Obama just put the cherry on the whip cream.

    June 1, 2009 at 6:29 pm |
  291. Ernesto

    Capitialism couldn't be more alive. It's only lost it's ability to profit on Americas innovation. Sometimes these companies are TOO stupid realize they could make more money. They look for easy money and what's not in the best interest of America. That's not being socialist, that's just seeing poor management for what it is.

    June 1, 2009 at 6:29 pm |
  292. Bill Borchert

    Capitalism is not dead. A free market is provides powerful incentives for people to keep busy and create wealth, and should be utilized to the extent that it serves the public interest. American capitalism, in which the free market is elevated to sacred creed to stupify the unschooled masses, and cynically manipulated by the rich and powerful, is dead.

    June 1, 2009 at 6:29 pm |
  293. Ali Najim

    Jack
    ,
    I thought Jesus was the biggest socialist.
    Jesus said: It is easier for a camel to pass through the eye of a needle than for a rich man to enter heaven!

    I think, the right wing Christians are confused because they should know Jesus dreams were socialism and peace not capitalism and war!

    June 1, 2009 at 6:29 pm |
  294. Susan Ellis

    I wish Americans could enjoy the benefits of "socialism" as France and some Scandinavian countries have: long vacations, free comprehensive health care prime among them.
    As for "government health care," would that all Americans could benefit from it as I do. You have a choice of plans and doctors of your own choice and it goes with you when you retire.
    Washington, DC

    June 1, 2009 at 6:29 pm |
  295. Greg B. in Los Angeles

    If U.S. Capitalism is defined by $100 million bonuses to Wall St. CEO’s, yet hospitals dropping off sick people in the street because they have no health insurance, then good riddance. Is Marxism the answer? Of course not. Yet a new version of capitalism, redefined by compassion, lack of greed and a level playing field, is not only due, but unavoidable.

    June 1, 2009 at 6:30 pm |
  296. John P Fraser

    How ironic the Russians are talking to you about Marxism! An arguably significant shift to the left does not necessarily depict the end of capitalism, but recent events, as quoted by Pravda, have to make one sit up and ask...'Is America's current course sustainable?....and ...."Are the remedies worse than the disease?" Capitalism means letting the market decide for itself what should or should not survive.
    Who can blame the Russians, or anyone else, for wondering what is really going on.
    If i were an American I would be worried right now.

    J.P. Fraser Brisbane Australia

    June 1, 2009 at 6:30 pm |
  297. Norman

    Our capitalism is not dead, but it is slowly dying.
    With the federal government being able to intervene by taking a share in big companies such as GM and AIG, our economy is turning into a socialist system. OUR FOUNDING FATHERS did not want the government to interfere with our inalienable rights, which are life, liberty, and the PURSUIT of HAPPINESS.

    Oakland, CA

    June 1, 2009 at 6:30 pm |
  298. ron

    It is dead. Ileft USSR over 20 years ago. Its sad to see Deja Vu. Next there will be price controll on the gas and empty shelves in the store. In diversified contry with no gun conrtol it might get ugly as infractructure will collapse.

    June 1, 2009 at 6:30 pm |
  299. Paul

    Pravda is right.
    For Americans it's hard to hear the truth, we want everything sugarcoated.
    It takes someone from the outside to look in and see our faults.

    June 1, 2009 at 6:30 pm |
  300. Charles

    If Capitalism is failing, no one else is to be blamed than the CEOs, COOs and Corporate Board of Directors .... They all have abused their authorities authorizing astronomical salaries and benefits for themselves and their buddies.

    Congress is to blame as well, when President Reagan was in office they approved closure of our industrial machinery. We no longer have an industrial base to speak off, it is all gone, ashes are left. . In the 80s, we were told that the IRS will collect more revenue from the service industries and Wall Steet than manufacturing plans in the U.S.

    How naive we were, a bunch of dreamers. Now a Russian Bank is buying GM Europen operation. Wonder what would Reagan have to say?

    Charles

    June 1, 2009 at 6:31 pm |