Free market capitalism, is it on its last breath?

It was not too long ago that we were all rejoicing the survivability of the free market model of the economy. However, just like folks who are in it, Free markets also have weaknesses connected with personal greed, incompetance and selfishness.

Our present predicament, sponsored by falling home prices and stock markets, rising debt burden and political inability to raise taxes to pay for the services rendered, tie down world's oldest democracy completely in knots that are very difficult to unravel. With the Banking industry half nationalized and the auto industry very close to bankruptcy and we don't know how many industries will ask for a handout from the government, it seems, this is Armagedon for free market capitalism.

What do you think?