Friday, December 29, 2017
Capitalism is an unstable system
Hartmann discusses this with Richard Wolff. Capitalism is based on speculation that has no basis in concrete reality. It invests in such ephemera with the sole intent of inflating its price to convince gullible investors to scarf it up with the inevitable result that it will crash and burn given no solid foundation. Meanwhile to insidious brokers of said speculations make a bundle and crash the economy leaving the public with a giant bailout bill. This is exactly what caused the '08 crash and we're headed there again.