- Capitalism and Alternatives -
Curious what you all have to say about this....
Posted by: Jason ( USA ) on February 25, 19100 at 11:24:22:
This is a segment I cut & pasted out of a chat transcript with David Gardner from The Motley Fool that is, of course, pro-capitalist. I was curious what kind of response some people here might have. Here's the question and answer from the chat (none of you probably know what "Rule Breaker" means, but that irrelevant... scroll down about ten lines to where he starts talking about capitalism and socialism):
spinspen1 asks: Do you foresee a time when you may have to
look at international stocks to find Rule-Breaker growth rates?
Motley_David: I don't, really. Fine question, by the way.
Motley_David: I'm not necessarily so focused
on growth rates...
Motley_David: as I am on RELEVANCE.
Motley_David: If I had to boil my investment
approach down to one word...
Motley_David: it would be RELEVANCE.
Motley_David: If you are running a
Motley_David: I probably want to own you.
Motley_David: I'd much rather have a piece of a
relevant business growing at 28% a year...
Motley_David: than an irrelevant one
growing at 100% a year.
Motley_David: a.k.a. a penny stock.
Motley_David: My investment horizon is 10 years minimum,
so I want sustainable strong growth...
Motley_David: also known as relevance.
Motley_David: And I believe America is the most
globally relevant country in the world.
Motley_David: Without being a snob or a
chauvinist about this...
Motley_David: I believe America MARKETS better
Motley_David: offers the best and most focused
Motley_David: and, third, has the best TECHNOLOGY.
Motley_David: I'd say Americans are incredibly fortunate
to have so many great businesses...
Motley_David: established and emerging...
Motley_David: around us. It happened because
we believed in capitalism...
Motley_David: at a time when most of the rest
of the world...
Motley_David: was socialist...
Motley_David: in practice even if not in name...
Motley_David: Great Britain, the birthplace of
capitalism (Adam Smith)...
Motley_David: was operating as a socialist
entity for decades before Thatcher!
Motley_David: And much of the rest of the world was
far, far worse.
Motley_David: What I'm saying is, we're really lucky.
Motley_David: And as America gets imitated...
Motley_David: the world's markets will continue to free up.
Motley_David: It's a great story.
I'm sure just about every response to this will be negative, which is why I'd like to hear what people say... just stir up a little discussion.