The consumer confidence has dropped again for the second straight month according to AFP. As if this was some sort of anomaly. And at World Economic Forum in Davos the movers and shakers are try to figure out what to do next with the current economic down turn, as if they had any clue. They don’t but that’s OK, they’ll still party like there is no tomorrow. There just might not be.
The problem is that everyone thinks we are experiencing some odd deviation from the norm. That there is some problem with the world economy that needs to be fixed and if only the correct solution could be found, everything would right itself and start humming along. Nothing could be further from the truth.
Economic downturns and financial crisis are all part of capitalism. They are in fact capitalism itself. Marx was quite clear on this.
View original post 639 more words