Chinese More Positive About Free Market Capitalism than Americans

Free Market Capitalism Support Waning in America

Free Market Capitalism os the best

Chart Showing the Chinese Believe in Free Market Capitalism

A Survey done by GlobalScan shows Chinese are more positive about free market capitalism than Americans are. The chart shows the frightening descent of Americans loosing confidence in the Free Market System that has created the wealth many of us enjoy in the world today.

Like many of you I have read all about China’s economic success and how many western politicians have praised their Government’s brand of State Capitalism.

Regardless of how well their economy appears to be going, this is a communist state with freedom very much at the whim of the Chinese Government.

Free Market Capitalism Shock

This comment from the GlobalScan Chairman says it all, “America is the last place we would have expected to see such a sharp drop in trust in the free enterprise system. This is not good news for business.”

What an understatment that is and the implications are profound.

State Capitalism Replacing Free Market Capitalism

There is definitely going to be a negative wealth affect on all our retirement nest eggs if America is giving up on Capitalism and allowing itself to become a socialist state at best similar to France.

Capitalism is what creates wealth and the small surplus goes to grow the economy. It seems the trend now is for Governments to have their own Sovereign Funds with which to manipulate the free market, buy political favours and often interfere with other country’s economies.

Anywhere governments amass huge sums of money into sovereign wealth funds there will be corruption, coercion, fraud and unaccountability. What’s worse, where a billionaire can lose his money in a bad venture and be penniless, a government failure often is a national catastrophe but no one pays the price, except you. The Government will just tax you to recover any losses they create.

For the record Wall Street Bankers do not represent Capitalism. The Bankers never owned the banks, they managed them and as such were entitled to have their incomes protected, just like any bank employee, once the government bailed the banks out with taxpayer money. That’s the problem.

In the “old days” the bankers owned the banks themselves and as it were, “went down with the ship” more often than not. They lost their fortune too.

I believe that most people asked the question,

“The free market system and free market economy is the best system on which to base the future of the world”

do not know what capitalism really is, and even less what a free market is. We have at best a mixed economic model combining capitalism and socialism and most of the time there is a seesaw on which way we are moving. This is overlayed with on-going massive regulations supposedly designed to protect consumers or small business or other group.

The problem is if the Democrats “progress” to the left whilst in office, the Republicans very rarely reverse that movement. This is what is called permeation or gradualness by the Fabian Society. It is creeping socialism and it will and does affect economic growth and thus your retirement nest egg.

I find it odd that the Chinese believe in free markets more than Americans do unless they too really do not understand what a “free market” is. This is quite possible since it is only in the last 20 years or so the Chinese citizen has been allowed to create some wealth for themselves. Remember China is not a free market, but the “freedoms” given the Chinese people by their Government.

There is an additional chart on the website that shows 25 countries and how their people feel about Free Market Capitalism. Brazil, Germany and China are the strongest believes whilst France is the second last in believing in free market capitalism.

There is one last quote from the Chairman of GlobaScan which is an ominous warning. He states, “The poll suggest that American business is close to losing its social contract with average American families that has enabled it to prosper in the world. Inspired leadership will be needed to reverse this trend.”

If Americans don’t get back to Free Market Capitalism or as close as they can get to it soon I believe the world economic growth will stagnate and our retirement nest eggs with it.

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