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Breaking: Major banks respond following RBA decision to cut interest rates (www.abc.net.au)

submitted 5 months ago by zero_gravitas@aussie.zone to c/ausfinance@aussie.zone

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[–] jonne 1 points 5 months ago (1 children)

That's how capitalism works without government intervention, until the wealthy are so wealthy they buy all assets and our politicians, yes. Eventually capitalism will eat democracy if you let it.

[–] Whirlybird@aussie.zone -1 points 5 months ago (1 children)

Eventually capitalism will eat democracy if you let it.

"Eventually". Cool.

Is there a better system than capitalism? Nope.

[–] jonne 1 points 5 months ago

You can have the Scandinavian model where the worst externalities are counteracted by government (with high taxes, no privatisation of important public services, etc).