Poverty Has Always Accompanied Capitalism

You are blurring the distinction between banks and corporations in general.

Corporations have many restraints placed upon them, embodied in corporate law.
They also have conferred upon them many privileges and benefits.
Whether those corporate laws effectively protect the society as a whole is another question.
In many aspects, clearly so. I can be easily persuaded that in other aspects they do not.

What does all that have to do with socialism and re-distribution of wealth?

 

The topic is poverty has always accompanied capitalism. Redistribution of wealth is a two way street with the wealth sometimes floating to the top and sometimes to the bottom. When money can buy your way out of almost anything, including the billionaire mayor of NYC arresting 26 reporters in one day, the peasants tend to cut off the heads of those in power and eat the rich.

 

It's empire baby

 

Yep, the peasants in ancient Rome routinely stormed the palace with knives and pitchforks.

Just five years after the French Revolution created the first modern democracy, Napoleon kicked all of Europe's ass and became emperor.

 

Has there ever been any socio-political system not accompanied by poverty?

 

Not one that has produced a steady stream of technology which is something that I pointed out early in this thread. For me, the issue isn't whether capitalism or socialism are good or bad, but are they sustainable and how can they be managed in such a way as to reduce the worst extremes of poverty, war, and destruction of the environment.

 

Inflated, devalued currency will always result in mis-allocation of resources and capital regardless of all else..
no matter the type of government or economic system.

 

The largest manufactured export of the wealthiest country in the world is weapons and the US dollar underscores most of the economies in the world, while the US government supplies half the funding and troops for both NATO and the UN. Your money is only worth what the guy holding the gun tells you it is worth which is why the US banks collapsed the entire world economy committing fraud and drove the US taxpayers into trillions of dollars worth of debt, yet, the US is thriving and the banks are still routinely continuing to commit similar fraud to this day. Economics are as much cutthroat poker as anything and, notably, both the US and the UN protested when Iceland recently threw their bankers in jail.

Empires are built by controlling the distribution of goods and controlling the markets with an estimated 90% of the wealth of the world today being invested in pure speculation such as Wall Street investments in what will be the next big thing. A mere 10% accounts for all the road, buildings, food, clothing, guns, etc. with an estimated 1,700 international conglomerates now in control of the world economy, while the US has a military equal to that of the next six or seven largest combined and enforces the distribution of resources. The idea that the taxpayers could miss-allocate funds is absurd when the Pentagon spends more in one year than most countries make and the US spends more on "defense" alone than most countries spend on their social programs.

Its empire baby, and the wealthy are in charge of everything having taken what was a balanced budget and turned it into massive debt using nothing more than blue smoke and mirrors, suspending our constitutional rights indefinitely, and even gerrymandering the election system to death without a single serious protest. Adding insult to injury, the billionaire mayor of NYC arrested 26 reporters in one day only to receive a slap on the wrist. You can debate communism versus capitalism all you want, but this is empire and our economy is enforced at the point of a gun and we are a modern welfare state in the grand tradition of the Roman empire. There's simply no such thing as left wing politics or even any meaningful right wing politics anymore which is why Trump has become president against the wishes of the republican leaders.

 

Poverty has always accompanied human life period, an its not going to change, no matter what the utopians propagate.

 

Decreasing poverty is also change.

But i agree with the first part of that sentence. When I saw this thread bumped i thought 'poverty has always accompanied humanity'. But ok, if one really wants to humanity can be nagged on and complained about as much as capitalism