Bronwyn Bishop says Australia is Socialist, page-48

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moorookamick

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02/08/21

09:57

Post #: 54952329
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Originally posted by moorookamick: ↑

Socialism is different to Social delivery of select services which we have eg"
(A)
-education
-health
-welfare
-defence
-armed forces & policing
-border security
-Government Regulatory Authorities including the RBA
-essential infrastructure.
(These were gradually introduced since the early Industrial Revolution to save Capitalism from Revolution as happened in Russia & China)

(B)
On the other hand we have:
-private property
-capitalist ownership of businesses including a Stock Market & our Banking System
-capitalist ownership of farms
-capitalist ownership of mining resources
etc. (all hallmarks of a Capitalist System but unfortunately mostly majority foreign owned)*

This by definition is neither a true Capitalist System nor a True Socialist one but
simply a Hybrid which is the Norm in the OECD.

Some call it a post-industrial welfare state

In a proper Socialist State all of (B) would be Socialised.

This is why China defines itself as "Socialist with Chinese Characteristics (being mostly the private enterprises & private property ownership)*I guess the big question is: At what stage will the Average Aussie jack up about the creeping foreign ownership of our privately owned assets? Today our Afterpay is being bough out by a US Fintech outfit and over 60% of our big 4 banks are already foreign owned.

Aussie households have on average $550K debt which is predominantly foreign owned. If that became 100% home equity post a recession
7 the bursting of the housing bubble, would that be an issue? Would it be a good look for our predominantly foreign owned banks to be evicting Aussie home owners to protect their foreign share owners ? Foreclosures in the USA during the GFC was different because it was US owned
financiers vs US citizens.

PS: Before Covid Government spend was about 26% of GDP and now its 36% due to Jobkeeper/Jobseeker & goosing big businesses etc.

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PS: The bottom line is that we need services socially delivered for Capitalism to work.
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Bronwyn Bishop says Australia is Socialist, page-48

Chris Judd's Talk Ya Book: Tracking Life360 on a journey to the stars

From the Floor question: "When will FEX start using rail to augment & de-risk their haulage solution?" | Fenix Resources

From the Floor question: "What is the focus of AL8 and how is management going to attract shareholders to the registry?" | Alderan Resources

From the Floor question: "Could gold be manufactured in a lab like diamonds?"

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Bronwyn Bishop says Australia is Socialist, page-48

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