Increasingly, over the past 2 decades, capitalism has been losing the plot in a grand way, with the help of the misled masses of ordinary people (who will almost inevitably be the biggest sufferers from the impending implosion). The selfish "greed is good" credo of the '80s has led to widespread and ever more risky speculation by not just the financial "professionals" of Wall Street (and other financial centres), but increasingly by the general public in general, who have been grossly misled by corrupt and greedy agents and "experts". A culture of very high risk financial speculation has formed, whereby loans are taken out "secured" by increasingly zany notional capital gains on housing, and spent on frenzied consumption binges. Saving has become seen as "stupid", and spending borrowed money as "sensible". Borrow borrow borrow, and spend spend spend like there is no tomorrow. And now there will be literally no tomorrow for the finances of many of these deluded suckers. Falling house prices finish the whole game abruptly - negative equity rears its scary head - rising mortgage payments cannot be serviced - foreclosure, bankrupcy, no house, no money, no credit rating, nowhere to go. And it was all so clearly inevitable.
"There are none so blind as those that will not see"
And so, now the serpent of capitalism that has been eating its own tail for quite a while now, suddenly reaches a no-win situation: the tail has been consumed, now it has to eat its own guts, or else starve to death...
Bye bye capitalism. Nobody can say you are not going out with a flourish. You are old paradigm, based on fear, greed, selfishness, dishonesty, and a grossly material focus.
The world is now moving into the new paradigm of collaboration, co-operation, sharing, honesty and openness. Humanity will become more humane. This change is inevitable, and even the most "powerful" capitalist leaders, movers and shakers, can do nothing about it.
The meek shall inherit the earth.
So far, we have seen the cracks that were apparent in the summer of 2007 open up, and the whole edifice of capitalism start to crumble visibly. No longer are those who cry "foul" and "crash" being pilloried by the media and the easily-led. Now the talk is of economic depression, and a "new capitalism" rising from the ashes of the old: this will not happen - who of us will ever be able to trust a bank again? Or a pension fund? Or a mortgage broker?
But our governments and the mainstream media are still not telling us (probably because they don't realize it themselves), that we are only at the beginning of this break-up: the worst has yet to come. The men (and women) in city suits have been very busy through the past few years creating a gigantic ponzi scheme to defraud us all of our savings and pensions, while lining their own pockets with disgustingly huge salaries and bonuses. It may appear that they have already been found out, as our governments are now throwing unimaginably huge amounts of public money at the crooked bankers in a doomed attempt to prop up the financial system, while stockmarkets plummet and girate, and house prices plunge, and unemployment starts to soar...
But you ain't seen nothin' yet!
The banks are much more bust than they are letting on - perhaps they are in denial, or just plain scared to come clean, but they have created a giant mountain of imaginary money (even more imaginary than the standard currency, which is itself a giant confidence trick), and only the tip of this has so far been found out - even that tip has been large enough to kill many of those banks, had they not been bailed out (so far....). The vacuum at the "heart" of the financial system is so massive that is capable of taking out every economy in the world, and destroying the global financial system, and all of capitalism with it - indeed this appears to be inevitable.
Governments are now expected to pick up the pieces, but all they can do is postpone the inevitable, and, as might be expected, they are making a poor job of that so far, as they "firefight" each new scandalous revelation. Effectively they are trying to prop up capitalism, and missing a golden opportunity to create a new socialism.
The New Paradigm is taking the power from the large materialistic control structures (global businesses, governments) and handing it over to the humble individuals: greed and excess will no longer bring rewards, even on a material level. Of course, much crooked fiddling will continue while our global "civilization" burns, but ultimately it is all futile. The game is over. The ball is burst. It is time to start again, with a clean sheet. We are approaching the "ground zero" of capitalism.
So, yes indeed - it is well worth repeating:
Bye bye capitalism. Nobody can say you are not going out with a flourish. You are old paradigm, based on fear, greed, selfishness, dishonesty, and a grossly material focus.
The world is now moving into the new paradigm of collaboration, co-operation, sharing, honesty and openness. Humanity will become more humane. This change is inevitable, and even the most "powerful" capitalist leaders, movers and shakers, can do nothing about it.
The meek shall inherit the earth.
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