Sound familiar?

Discussion in 'Economics' started by brianp5539, Jan 20, 2009.

  1. 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 debt becomes unbearable.
    The unpaid debt will lead to the 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, 1867.
  2. Thanks for the heads-up, comrade.
  3. Link, please.
  4. Daal


    Just goes to show that no matter who you are talking about, they are always right on some things
  5. Karl Marx.

    Good Economist, grudgingly allowed.

    Lousy Philosopher and Politician.
  6. Owners of capital stimulate to buy? Buy by force? Dirty rotten capitalists.

    2% of the population (genetic?) knows that you should never go into debt, that it is far cheaper and easier to pay cash for everything, yes, even your house. If you don't have the money for it, maybe you shouldn't have it.

    I have a neighbor that could have paid cash for his house right now for all the payments he has made over the last 10 years. The house he had been living in 10 years ago was paid for. On the new house, he is making minimum payments and will never live long enough to pay it off. Had to have it now. I can't live with stress like that. It literally makes no Cent$.

    People born beyond the Great Depression era must have everything right now. Everything is purchased with a monthly payment even if it's only a $100 item. Instant gratification, me, me, me, now.