Karl Marx perfectly predicted the Credit Crunch 142 years ago...
By livewyre
@livewyre (2450)
March 13, 2009 10:57am CST
"Owners of capital will stimulate the working class to buy more and more expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalized and the State will have to take the road which will eventually lead to Communism."
Karl Marx, Das Kapital 1867
http://www.thecreditcruncher.com/2009/03/marx-was-right.html
Whilst I am not exactly in agreement with the man's political outlook, you have to give him credence for his foresight...
My question then is this:
In view of the fact that the UK is supposed to have a socialist government...Have none of them read Marx?? or did they actually want a communist state??
If they wanted a communist state, why are they working so hard to bail the banks out and keep the economy going - or is it part of a cunning plan??
1 person likes this
2 responses
@xfahctor (14118)
• Lancaster, New Hampshire
13 Mar 09
And Jefferson also in very prophetic words, had this to say: [i]
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." [/i]
Then upon the inception of the federal reserve, Woodrow Wilson had this to say when he realized the implications of what he had done: [i]
"“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.” [/i]
2 people like this
@livewyre (2450)
•
13 Mar 09
Seems the banks had managed to build up huge power while we were all sleeping. Certainly I have been aware that our entire economy is fueled by debt for quite some time now. The 'manageable' debt crept into debt fueled by house prices and the resulting equity-exchange. When the house prices dropped, it was as if no-one in the banking sector had contemplated this scenario...
@livewyre (2450)
•
13 Mar 09
It's sadly laughable that people think politicians have the power to create anything but the mildest bumps along our journey of life. In a free market, their economic 'tinkerings' are merely lip-service. The worrying thing is that they believe they have a real impact - I am sure they do... it's kinda cute in a way... kinda scary otherwise
lol.