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Comment by lawn | Hacker News Reader

Not at all. This is capitalism.

Something something true capitalism has never been tried before

Not when the government steps in because OpenAI, NVIDIA, Microsoft, etc are all going down together. There is so much pseudo-money-laundering going on between those companies. I would be shocked if the government (e.g. 2008 style socialism for the rich) steps in to make them “too big to fail”.

Microsoft and Nvidia aren't going down.

Their stock prices might go down but they're not going down.

Stock prices going down is the reason AIG, GM and Chrysler received bailouts.

Debt and an inability to pay it by selling stock is why they received bailouts.

Nvidia and Microsoft stand to make less money, not be in debt.

still capitalism

No, this is Sparta

Bailouts are not capitalism

They are if they happen under capitalist states, which is what the US is.

So if something is declared "capitalist", it maintains that state in perpetuity, regardless of the actions it takes in reality?

That is not what I said, nor implied. In the US the means of production are owned by private individuals. It is capitalist. You may not like the form it's taking but it is what it is.

No, but it is a materialist analysis of capitalism in practice, rather than unrealized idealism

Queues are not socialism?

In unconstrained socialism, a small group of powerful individuals use government control of corporations for their personal benefit.

In unconstrained capitalism, a small group of powerful individuals use corporate control of government for their personal benefit.

Clearly, these outcomes are completely different.

"unconstrained socialism" is kind of an oxymoron, isn't it?

Exactly - private profits, public losses, is quintessential neoliberal capitalism.

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