Martin Lee @ Sg
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Capitalism – A Love Story

The other day, I went to catch the show, Capitalism: A Love Story, a documentary film that covers the 2007-2009 financial crisis and the subsequent bail out. It is directed by Michael Moore, a liberal critique who has directed other films like Fahrenheit 9/11.

A group of teenagers must have been deceived by the title of the show as they left the cinema 25 minutes into the show, most probably bored or confused by the issues that were being discussed. Many of the other people in the cinema happened to be Caucasians, who seemed to be more interested with the subject matter of the show compared to the typical cinema-goer.

Capitalism – A Love Story Trailer

The show is highly critical of Capitalism and suggests a massive conspiracy to transfer wealth from taxpayers to the banks last September.

It also tries to highlights other issues, a few of which are:

  • deliberate sentencing of juvenile in a certain district in order to enrich the privately owned child detention center
  • the carefree giving of mortgage loans followed by the ruthless repossession of homes by the banks when the home owners couldn’t pay
  • corruption at the highest levels with preferential home loans being given to special VIPs
  • poorly paid commercial pilots in the United States ($20k per annual) and how some of them have to take part time jobs or welfare to survive

Some of the issues were the first time that I have heard of. For example, I only realised the difficulty Congress had in passing the US$700 bailout package after watching Ohio’s Marcy Kaptur’s speech for the first time.

Mary Kapture’s One Minute Speech

If you recall, the first attempt to pass the bill was shot down. And this speech by Marcy Kaptur was made after the bailout package was approved.

While the content might be a bit dry for a lot of people, there were many doses of humor laced throughout the show. There was one instance where Michael tried to make a phone call to Henry Paulson.

Female voice: Hello, Paulson’s office.

Michael Moore: Hi, this is Michael Moore. May I speak to the Secretary, Henry Paulson, please.

Female voice: Sorry, who are you again?

Michael Moore: This is Michael Moore.

Click

Overall, I found the show thought provoking with interesting issues being raised.

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2 comments
James Tan says 9 years ago

It’s a real educational story if u asked me Lion

a steal for those who havent gone thru the global financial debacle. a great movie too…

somehow, I ernestly thinks that these things are happening here but…..

Reply
    lioninvestor says 9 years ago

    Hi James,

    I think it’s happening in a lot of places.

    Tapping on (and assuming) increased home equity for retirement/spending is a dangerous model.

    You are at best back to square one only if the appreciation of asset value is due to expansion of money supply (inflation).

    In the event of asset bubbles, the gap between the have and have-nots will grow wider and the bubble will have to burst eventually.

    Reply
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