Capitalism is Dead! Long Live Capitalism!

Sep 18th, 2008 – Comment

Well the AIG situation has unnerved some, rattled others, and sent some right round the bend. Here is an email I received today by someone who clearly has lost touch with reality. But you be the judge. CAPITALISM IS DEAD!!!! CAPITALISM IS DEAD!!!!! need i say anymore? the big corporates now belonging to the people! […]


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Lou Schizas is an equities analyst, investor, entrepreneur, professor and television and radio personality – and a true believer in the happiness-inspiring powers of capitalism.


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Photo by Alex Thompson (via Flickr.com)

Well the AIG situation has unnerved some, rattled others, and sent some right round the bend. Here is an email I received today by someone who clearly has lost touch with reality. But you be the judge.

CAPITALISM IS DEAD!!!! CAPITALISM IS DEAD!!!!!

need i say anymore?

the big corporates now belonging to the people!

seems like your capitalism is proving to be SOCIALISM !!

America is now becoming SOCIALIST territory !!!!

so much for your UN-happy- cappy — crappy …..

ARMAGEDDON IS FINALLY UPON US ALL !!!!

No name was posted so I can’t send the reality squad to visit and talk them off the ledge. Has the market action of the month of September been good. Obviously not! But it’s not Armageddon by a long shot.

The financial system is paying the price of providing too much leverage to too many cowboys who were too busy to find out exactly what they were involved with. The consequence of the folly has been visited on those that were most exposed and provided the least oversight. Bear Stearns, Fannie Mae, Freddie Mac, Lehman Brothers, AIG, Countrywide, IndyMac, and likely more will be taken down.

But trust me on this we will get through this to the other side of this mess. We will all be tested but that’s a good thing. It will separate the sheep from the goats.

The phrase Happy Capitalism was not born in an environment of giddy hubris but during one of the most challenging times in my life. When much was at risk, many assumptions were just damned wrong, and the economy hit the skids like it was going out of style. It took creativity, just plain nerve, and some luck to get out of the swamp but I have to tell you I never felt more alive or satisfied knowing I had been tested in the fires and was better for it.

Capitalism is not a walk in the park but it is the best damn system in the world. It may have to bend but you can be sure it won’t break. And if you see someone resembling the author of the ramblings I received today tell them that its never as bad as it seem and its never as good as it seems and to always look on the bright side of life!

Happy Capitalism!

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