One more time for Debanjan

Submitted by Shishir (United Arab Emirates), May 13, 2012 at 03:28

"Socialism is Robin Hood taken to the extreme-taking not just from the rich but the productive middle classes and giving to the unproductive."

My Answer : I am afraid your definition of socialism does not stand the test of real world experiences. If the Western countries of late are piling up taxes upon the rich for paying the poor's lifestyles , then why there is so huge income equality present in almost all countries of the Western hemisphere ? In the US despite all the accusations of high taxes on the rich , it is the rich who control almost entirety of the economic growth in the last 30 years. In the US in particular the wages of the middle classes have become stagnant in the last 30 years according to many independent economists.

There will always be income inequality as different people have different needs, aspirations and abilities.I dont see why income inequality cant co exist with prosperity.

I will ignore the rest of your silly leftist talking points which have refuted over and over.

Remember Occupy movements and Indignado movements are taking place in the West in protest of economic inequality and not for anything else.

Actually I seem to remember that the Occupy movements was overwhelmingly started by foolish middle class kids who majored in anthropology and French History all the while incurring massive student loan debt.And then being shocked ,shocked that they werent being offered six figure salaries.

So if according to you Western nations have been practicing socialism for the last 60 years and robbing the rich to pay the unproductive poor then how come the rich have become omnipotent and more richer over the last 3 decades that they now even control the political process and "democratic elections" in the US have become a farce and place of auction to be won by the highest bidder to say the least.

To answer this question is really easy, the super rich like Warren Buffet,Bill Gates etc are crony capitalists who make crooked deals with mostly Democrat governments to keep competition and free market down.This most Americans have learnt the hard way and rather late.The super rich are NOT FRIENDS OF THE MIDDLE CLASS OR OF FREE ENTERPRISE.

I hope you would try to explain your contradictions in good spirits.

Hope it meets with your approval.

I am still eagerly waiting your defintions of Islamic finance and how Turkey has implemented it. Only one example has come forth which says that Turkish usage of cheap credits is detrimental to the long term growth of the economy.

I have already explained numerous times,if you cant uderstand it ,thats not my problem

Now my question to you is that is your definition of Islamic finance is only cheap and easy credits ?

No that is not what I said at all.Jeez what is it with leftists and reading comprehension issues?

You yourself in another question said that mass consumerism also means easy and cheap credits so should I assume that according to you easy credits and Islamic finance are also the same ?

No.

Another related question here is that we also need to observe is that I am not supportive of every policy of Turkey in the last couple of years.

When did I claim you were?

1. Turkey in order to control the trade deficits , should think seriously about scraping the usage of dollar for any types of commercial transactions.

And replace it with...?

2. The problem with using dollar for your transactions remain that if you do not have enough dollar it will be a problem for you in terms of trade deficits which would force you to go to institutions such as IMF or World Bank endangering your sovereignity.

You dont have to do that, you can try austerity.

3. Instead Turkey should opt for barter trade i.e. exchange of goods with countries of its neighborhood in particular.

Great! Lets go back to the stone age!

4. Doing business with neighbors is the most important thing to do if you want to grow. Because last year saw Turkey caving under US pressure to reduce trade with its neighbors like Iraq , Syria and Iran this is increasing Turkey's trade deficits. This is something Turkey needs to look to correct in future.

Yes, each nation should look after its own interests.But then there are trade offs, when it deals with rogue states such as above which threaten its allies.Dont expect the ally to extend credit,trade,intelligence, military expertise and a myriad of useful goods.

5. There is no need for Turkey to purchase obsolete , unreliable and costly weapons such as those from the US like F-22 and F-35 etc. Instead it should think about improving its own indigenous defense production and seek to boost defense exports.

Indigenous technology takes a long time for it to be a viable competitor against existing technology of the first world

Take care Debanjan

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