A major market analyst said Sunday that the United States is engaged in an economic "war" as a consequence of a deadly collusion between politicians and large corporations that have defrauded the public for the past 30 years.
The danger that is inherent in such a war, he says, lies in the fact that not only has the U.S. economy been falsely inflated by the fraud but so has Europe and most of the advanced nations of the world.
Analyst Karl Denninger, who is the brain child behind the Internet site The Market Ticker, states that the economy has been rigged by major power brokers in politics and business who wished to take the competition out of the markets. The motivation for the move was to insure that everyone would win and that no one would lose, or at least not enough to ruin them.
However, this is not the way capitalism works. Competition is the centerpiece of the capitalistic system of economics, meaning that one must risk losing in order to position himself to win. If someone else can offer the same goods and services at a lower price and with a higher quality, then it is that person who wins. The others either lose or find a way to cut costs and improve quality so that they can remain competitive.
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