Is Karl marx's diagnosis of America right?

Discussion in 'Economics' started by Grandluxe, Sep 1, 2011.

  1. "Owners of capital will stimulate the working class to buy more and more of 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)
  2. No. The final part is wrong. The state will not be able to take the debt of the banks on. This is in my opinion not possible.
  3. The state in the UK took on RBS and LLoyds/HBOS. The Irish state took on Allied Irish.
  4. Yes and since then the banks have not been successful. In addition they are in the process of selling some of the banks back in Britain. They also would not be able to afford to take on more banks if they all started to fail.
  5. Maybe if things got bad enough.. For now we are still in denial.
  6. British workers are so lazy that it will be much more productive to switch to communism from the socialist state they are in now. From what I know, british workers are some of the most unproductive in the world, constantly taking tea breaks and giving excuses for shoddy work. This is probably tied to the benefits culture and simply a lack of overall ambition in life.

    Much more productive for the UK state to establish some gulags, work houses and press gangs

    One of my relatives has a flat in the Chelsea, London area and using British builders he barely got any work done, he finally hired a combination of polish workers and flew in German builders and completed the work in 10 weeks compared to the British quotation of 6 MONTHS.

    LOL. lazy buggers
  7. So, AT&T says it can't afford the $3B or so it will cost to upgrade its network. A couple of months later, it puts in a bid to buy T-Mobile for several multiples of that $3B. That, apparently, they can afford to do.

    Buried in the deal, is that the breakup fee, if the deal doesn't go through, is $3B to be paid by ATT. This would be the same $3B they couldn't afford to spend on their network.

    You don't need to be Karl Marx to see there is something completely screwed up about that.

    I'll go crash on the couch for the thirty seconds it will take someone to post how the private sector is so much more efficient than the public sector...
  8. It's a bit hit and miss. But I know what you are talking about.
  9. zdreg


    there is nothing to afford or to spend except maybe to change the sign over the front door. a red decal with the new name might suffice.

    this what you can expect in the UK
  10. zdreg


    the only difference is that there will be more women on line.

    the reality has already happened in the UK

    the only question is how many times this scene will be repeated.
    #10     Sep 1, 2011