- uploaded: Jun 18, 2013
- Hits: 73
We're in a post-capitalist, post-socialism world. I have just come back from the G8 protests in Belfast and it occurred to me -- at this point; we're post both capitalism and socialism -- and this point needs to be made clear, but we also see some vestiges of both systems in a new, emerging economy that has yet to be named.
I agree with the G8 protesters in Belfast that capitalism -- as it's been iterated in the West in the post WWII era has run its course. The main cause for its demise, as I see it, is that during the 1980's; thanks to deregulation, futures and options speculation and leverage migrated over to the burgeoning field of 'financial futures' and the price discovery mechanism associated with supply and demand and the 'invisible hand' -- over the ensuing few decades -- completely broke down. Money itself lost any anchor to value as futures traders speculated with virtually no risk on contracts worth many billions that had been willed into existence by financial engineers not by dint of any underlying economic activity. http://www.infowars.com/keiser-the-collapse-of-the-current-bankster-regi...