Brave New World: Wal-Mart is attempting to go after the last bastion of American capitalism: the banks. In a recent proposal, Wal-Mart plans to begin opening its own banks, effectively attacking the most powerful forces in the capitalistic world.
Remember the Cold War? And how we were all taught that capitalism was the only good in the world, that it allowed for fair competition that would provide us all with the best products and the best services at the lowest prices. If you didn't like one bank, for instance, you could always go to another. If the interest rates at one bank weren't to your satisfaction, you could always seek out another.
Wal-Mart came along, and we thought here's a true capitalistic venture and we are all benefitting from their low prices.
Guess what? If you live in the mid-west, look around at what happened to your communities.
It's difficult to be a friend of the banks. They've never been anyone's friend but their own, but Wal-Mart is coming after them in true capitalistic form. The average consumer will probably benefit over the short run, but remember this:
The true nature of competition is to destroy competition.
That's why in sports we start the season over from time to time. We level the playing field in a completely arbitrary fashion. This is the equivalent of government regulation.
Wal-Mart now wants to be your bank, your dry goods provider, your source of gasoline, your bakery store, your grocery store. How convenient for us. Everything we need located under one tin roof on acres of asphalt at the edge of town.
Down with communism, the system where the government owns and controls everything. Up with the latest form of capitalism: the system that is controlled by a handfull of people who inhereted their billions—making them among the wealthiest aristocrats in the history of the world—and their business. I'm sure these few folks have your very best interest at heart. By the way, how many of you know their names? Or would recognize any of their faces? And they never have to face the voters in the poles.
Congratulations, America! Capitalism is about to reach its zenith, just in time for China, India and Korea to start truly flexing their economic muscles.
Remember the Cold War? And how we were all taught that capitalism was the only good in the world, that it allowed for fair competition that would provide us all with the best products and the best services at the lowest prices. If you didn't like one bank, for instance, you could always go to another. If the interest rates at one bank weren't to your satisfaction, you could always seek out another.
Wal-Mart came along, and we thought here's a true capitalistic venture and we are all benefitting from their low prices.
Guess what? If you live in the mid-west, look around at what happened to your communities.
It's difficult to be a friend of the banks. They've never been anyone's friend but their own, but Wal-Mart is coming after them in true capitalistic form. The average consumer will probably benefit over the short run, but remember this:
The true nature of competition is to destroy competition.
That's why in sports we start the season over from time to time. We level the playing field in a completely arbitrary fashion. This is the equivalent of government regulation.
Wal-Mart now wants to be your bank, your dry goods provider, your source of gasoline, your bakery store, your grocery store. How convenient for us. Everything we need located under one tin roof on acres of asphalt at the edge of town.
Down with communism, the system where the government owns and controls everything. Up with the latest form of capitalism: the system that is controlled by a handfull of people who inhereted their billions—making them among the wealthiest aristocrats in the history of the world—and their business. I'm sure these few folks have your very best interest at heart. By the way, how many of you know their names? Or would recognize any of their faces? And they never have to face the voters in the poles.
Congratulations, America! Capitalism is about to reach its zenith, just in time for China, India and Korea to start truly flexing their economic muscles.
posted by Jim | 11:56 AM
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