[jonnycsd]

I got a 30 day trial on an Amazon Fire Stick for college football bowl season. It worked great and I will keep the service.

[jonnycsd]

[quote=briansd1]Right, socialist is the wrong word.

I was using that word in the context of how many Americans use it to refer to the Soviet Union and North Korea.[/quote]

I think you’re looking for the word “communist”. Communism is a political construct that has one party (the Communist party) and tends to aggregate opinion in a tightly controlled totalitarian way. Communism and socialism have been associated since Marx was around, and lots of people use the terms interchangeably. They do have different meanings – China is recently demonstrating that you can have a communist political system paired with a capitalist economic system.

Socialism is an economic construct that is consistent with democracy – like what they do in Sweden and Norway, and IMHO, unfortunately, to an ever greater degree right here in the USA. Basically it means the government rather than private business controls and directs prices, production and investment.

In neither of these systems do the “grunts” ever really have control of the equipment. That only happens to entrepreneurs in a capitalistic democracy. Think owner-operator truckers, cabbies, small farmers, handyman, yardman, accountant, attorneys, and yes, until recently, even medical doctors.

[jonnycsd]

[quote=briansd1]Right, socialist is the wrong word.

I was using that word in the context of how many Americans use it to refer to the Soviet Union and North Korea.[/quote]

I think you’re looking for the word “communist”. Communism is a political construct that has one party (the Communist party) and tends to aggregate opinion in a tightly controlled totalitarian way. Communism and socialism have been associated since Marx was around, and lots of people use the terms interchangeably. They do have different meanings – China is recently demonstrating that you can have a communist political system paired with a capitalist economic system.

Socialism is an economic construct that is consistent with democracy – like what they do in Sweden and Norway, and IMHO, unfortunately, to an ever greater degree right here in the USA. Basically it means the government rather than private business controls and directs prices, production and investment.

In neither of these systems do the “grunts” ever really have control of the equipment. That only happens to entrepreneurs in a capitalistic democracy. Think owner-operator truckers, cabbies, small farmers, handyman, yardman, accountant, attorneys, and yes, until recently, even medical doctors.

[jonnycsd]

[quote=briansd1]Right, socialist is the wrong word.

I was using that word in the context of how many Americans use it to refer to the Soviet Union and North Korea.[/quote]

I think you’re looking for the word “communist”. Communism is a political construct that has one party (the Communist party) and tends to aggregate opinion in a tightly controlled totalitarian way. Communism and socialism have been associated since Marx was around, and lots of people use the terms interchangeably. They do have different meanings – China is recently demonstrating that you can have a communist political system paired with a capitalist economic system.

Socialism is an economic construct that is consistent with democracy – like what they do in Sweden and Norway, and IMHO, unfortunately, to an ever greater degree right here in the USA. Basically it means the government rather than private business controls and directs prices, production and investment.

In neither of these systems do the “grunts” ever really have control of the equipment. That only happens to entrepreneurs in a capitalistic democracy. Think owner-operator truckers, cabbies, small farmers, handyman, yardman, accountant, attorneys, and yes, until recently, even medical doctors.

[jonnycsd]

[quote=briansd1]Right, socialist is the wrong word.

I was using that word in the context of how many Americans use it to refer to the Soviet Union and North Korea.[/quote]

I think you’re looking for the word “communist”. Communism is a political construct that has one party (the Communist party) and tends to aggregate opinion in a tightly controlled totalitarian way. Communism and socialism have been associated since Marx was around, and lots of people use the terms interchangeably. They do have different meanings – China is recently demonstrating that you can have a communist political system paired with a capitalist economic system.

Socialism is an economic construct that is consistent with democracy – like what they do in Sweden and Norway, and IMHO, unfortunately, to an ever greater degree right here in the USA. Basically it means the government rather than private business controls and directs prices, production and investment.

In neither of these systems do the “grunts” ever really have control of the equipment. That only happens to entrepreneurs in a capitalistic democracy. Think owner-operator truckers, cabbies, small farmers, handyman, yardman, accountant, attorneys, and yes, until recently, even medical doctors.

[jonnycsd]

[quote=briansd1]Right, socialist is the wrong word.

I was using that word in the context of how many Americans use it to refer to the Soviet Union and North Korea.[/quote]

I think you’re looking for the word “communist”. Communism is a political construct that has one party (the Communist party) and tends to aggregate opinion in a tightly controlled totalitarian way. Communism and socialism have been associated since Marx was around, and lots of people use the terms interchangeably. They do have different meanings – China is recently demonstrating that you can have a communist political system paired with a capitalist economic system.

Socialism is an economic construct that is consistent with democracy – like what they do in Sweden and Norway, and IMHO, unfortunately, to an ever greater degree right here in the USA. Basically it means the government rather than private business controls and directs prices, production and investment.

In neither of these systems do the “grunts” ever really have control of the equipment. That only happens to entrepreneurs in a capitalistic democracy. Think owner-operator truckers, cabbies, small farmers, handyman, yardman, accountant, attorneys, and yes, until recently, even medical doctors.

[jonnycsd]

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[jonnycsd]

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[jonnycsd]

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[jonnycsd]

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[jonnycsd]

Fractional reserve banking is the ubiquitous practice where banks take in demand deposits and lend out a portion (or fraction) of those deposits to borrowers. The banks are counting on the fact that not everyone will want to withdraw their deposited funds at the same time. Of course this exposes the banks to some degree of risk in the form of a “run on the bank” if too many people want their money at once. Jimmy Stewart explains this scenario elequently in “Its a Wonderful Life”

Eliminating fractional reserve banking would require banks to have a one dollar of cash on hand (not necessarily paper cash) for each dollar deposited in a demand account (i.e. your typical checking or savings account). Loans would only be made based on longer term deposits into the bank (such as CDs).

[jonnycsd]

Fractional reserve banking is the ubiquitous practice where banks take in demand deposits and lend out a portion (or fraction) of those deposits to borrowers. The banks are counting on the fact that not everyone will want to withdraw their deposited funds at the same time. Of course this exposes the banks to some degree of risk in the form of a “run on the bank” if too many people want their money at once. Jimmy Stewart explains this scenario elequently in “Its a Wonderful Life”

Eliminating fractional reserve banking would require banks to have a one dollar of cash on hand (not necessarily paper cash) for each dollar deposited in a demand account (i.e. your typical checking or savings account). Loans would only be made based on longer term deposits into the bank (such as CDs).

[jonnycsd]

Fractional reserve banking is the ubiquitous practice where banks take in demand deposits and lend out a portion (or fraction) of those deposits to borrowers. The banks are counting on the fact that not everyone will want to withdraw their deposited funds at the same time. Of course this exposes the banks to some degree of risk in the form of a “run on the bank” if too many people want their money at once. Jimmy Stewart explains this scenario elequently in “Its a Wonderful Life”

Eliminating fractional reserve banking would require banks to have a one dollar of cash on hand (not necessarily paper cash) for each dollar deposited in a demand account (i.e. your typical checking or savings account). Loans would only be made based on longer term deposits into the bank (such as CDs).

[jonnycsd]

Fractional reserve banking is the ubiquitous practice where banks take in demand deposits and lend out a portion (or fraction) of those deposits to borrowers. The banks are counting on the fact that not everyone will want to withdraw their deposited funds at the same time. Of course this exposes the banks to some degree of risk in the form of a “run on the bank” if too many people want their money at once. Jimmy Stewart explains this scenario elequently in “Its a Wonderful Life”

Eliminating fractional reserve banking would require banks to have a one dollar of cash on hand (not necessarily paper cash) for each dollar deposited in a demand account (i.e. your typical checking or savings account). Loans would only be made based on longer term deposits into the bank (such as CDs).

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