"Capitalism Has A Crisis" - Deutsche Sees No Light At The End Of The Tunnel "Until There Is A Recession"

Tyler Durden's picture

In recent months unexpected calls have emerged from unexpected sources questioning whether capitalism is even working any more in a world in which corporate profits refuse to drop leading to paltry wage gains and thus, lack of the all-important wage inflation. Most recently it was none other than Goldman who wrote in February that "we are always wary of guiding for mean reversion. But, if we are wrong and high margins manage to endure for the next few years (particularly when global demand growth is below trend), there are broader questions to be asked about the efficacy of capitalism."

Maybe Goldman should ask the Fed about its thoughts on mean reverting "capitalism" in a world in which creative destruction is no longer possible.

Over the weekend, it was Deutsche Bank's rather outspoken credit strategist Dominic Konstam who, in a post-script to a note in which he ominously warned that
the "worst kind of recession" may have already started (based on Friday's nonfarm payrolls report), goes on to conclude that the crisis facing the "developed" world is a far deeper one than just that of profits and demographics. It is a crisis of capitalism itself.

This is what he said.

The reason that inflation is the historical exception rather than the rule is because of the over-supply issue. Say's Law says that supply creates its own demand, but only until it doesn't! This truism created Keynes' theory to work off deficient demand. It also includes the logic of negative rates to reduce the attractiveness of profits into cash that is superior to "goods" that will lose their value if hoarded, i.e. profits not being reinvested in the business.


Capitalism can be successful for long periods when it can identify new sources of demand that run in tandem with the production possibilities frontier. Demographics and globalization have heretofore been key: a billion Chinese consumers need cars; a baby boomer generation became consumers in the ‘90s. However, now the developed world is old and getting older. China has grown too quickly and needs its own time out.


Capitalism has a crisis. If only this was a Fed problem or better yet a negative demand shock that could be easily reversed. As it is, it looks more like a line in the sand for profits. Productivity has been too weak for too long. Things will need to get worse before policy can become radically better. That may involve piling more debt from government onto existing debt, coupled with “helicopter money” elements to reduce some of the burden for existing debtors. It could involve a direct transfer away from profits and savers to workers and spenders via negative rates and wealth taxes that banks collect either way.


There is light at the end of the tunnel. But we have yet got to the right tunnel and probably won't until the US falls into a recession.


This is a bull flattener and with Europe and Japan where they are, raises the probability of more deeply negative rates – including in the US. A few more labor market prints will decide. The Fed will be lucky to raise rates again this year.

Then again it is not capitalism, but crony capitalism that has a crisis: after all, how can one call a world in which both China and the US actively bail out not only money losing companies but the very capital markets every time there is even a modest deviation from centrally-planned trendlines, capitalism?

Even so, if Konstam is right, the Fed - which has staked not only its credibility but its very existence on keeping the US stock market propped up and artificially inflated - has a big problem.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
E.F. Mutton's picture

I think Capitalism would be great.  We should try it sometime.

Miles Ahead's picture

Capitalism IS a Crisis. 

Fixed it.

Luc X. Ifer's picture

People getting big O surprise holes when rationality speaks ... that explains by itself how we got here ... 

DownWithYogaPants's picture

Crony capitalism has a problem.  And is it not interesting how are ruling overlords seem to want more every year?

Lack of growth or consumption by itself is not a problem.  When a person reaches about 20 years of age they stop growing.  Why not economies?

The problem is they want an ever heavier pound of flesh.  They never look at huge oranges and say "It won't take many of them to make a dozen"

No!  They always want more.  What do these parasites have waiting for them at home?  Little vampire children with glinting fangs? They must need enough pints of blood to keep them sated whilst daddy takes a knap so there is a chance they will wake up. ( Their saliva has anestetic properties so you don't feel the bite ) 

Kissy Ass's picture

None of you know what capitalize is!

ZD1's picture



Communism/Socialism IS a Catastrophe.

Fixed it.

Miles Ahead's picture

True.  So what's yer point buddy?

Miles Ahead's picture

... yeah.  Just as I thought.

Pareto's picture

Nope.  Don't think that happened.

Miles Ahead's picture

Nope.  The first thing that was evident is that he could not follow up that simplistic remark with anything that would impress.

Second, what I hold true to be self-evident is all them thare Capitalists high-tailing it on over to the Communist China and Communist Vietnam in order to make a living.

What I hold true to be self-evident is 8 years later and yet another existential crisis by the Great Capitalist Society that threatens to bring down the Planet Earth and all neighboring planets. 

Of course " blah blah... this ain't real capitalism blah blah ".  Sick of hearing that smoke screen.  It is what it is.

Ask Japan.

VWAndy's picture

 We know why you are sick of hearing it. Because it hurts your feelings.

Pareto's picture

Then you better find a safe space.

Miles Ahead's picture

Oh. I have. You haven't been keeping up.

Pareto's picture

There is nothing capitalist about burying price discovery and specifically interest rate suppression for over 8 years.  Capitalism requires free and unfettered markets.  This has not been the case.  We have not had true price discovery since before Greenspan in either the stock market, or, the bond market.  The FED, in addition to most other central banks have been engaged in concerted interest rate suppression since 1999 - on and off since 1913.

This is not capitalism - this is corporate facism.  If you cannot see the difference, then you shouldn't really be talking about much, since what you hold to be true - aint very self evident.

Luc X. Ifer's picture

How did you know that? Did you ever tried it?

ZD1's picture



How did you know it doesn't? Have you ever tried it?

We've seen it in action.

Venezuela and Cuba are prime examples.


swmnguy's picture

Not really such "prime" examples.  Both countries have been under relentless attack and subversion by the most powerful Empire in the world, since the instant those two countries tried to stop being de facto colonies.

They may have wound up in the same mess without fighting decades-long wars, hot, cold, covert and overt; but that's not what happened so we can't know.

Miles Ahead's picture

wow... we should be husband and wife! Or twins! I just curse more.  See below...

Miles Ahead's picture

Bullshit.  Cuba?  A prime example? You fucking wish. 

We were so afraid of Cuba we embargoed them for 65 years... and guess what?  Havana is still has a better quality of life today than... DETROIT, the once richest Capitalist example in the Western World.

Add to that Chicago, Philly... (no time to type 30 bankrupt cities in CA.) and on and on...

We were afraid of all "Communist" societies and waged War of one kind or another against them until this very day.  Now many have show to be superior socially - and the signs for economic equality are promising - than the decaying Capitalist lands.

I'm not defending Communism btw.  Just keeping it real.

DetectiveStern's picture

To be honest neither communism nor socialism have ever been implimented. The closest humans ever got to communism was when we were hunter gatherers many many 1000s of years ago.

What's called socialism now is not socialism whatsoever in any of the classical senses. There is no free shit in socialism. If you don't work you don't eat.

thebigunit's picture


The closest humans ever got to communism was when we were hunter gatherers many many 1000s of years ago.

And it wasn't just close, it was the REAL thing!

And then someone figured out that instead of eating your goats, if you kept two of them, you could have three goats.

BOOM! The invention of capitalism.

Collectivism, socialism, communism are all PRIMITIVE economic models, relied on by primitive people.

Bernie Sanders is a primitive person, incapable of surviving in a modern capitalist economy.

KnuckleDragger-X's picture

Capitalism is just too simple. There is money to be made by bending up the system into something else completely, and then blaming capitalism when it fails.......

Miles Ahead's picture

Maybe "bending up the system" is inherent in so-called "Capitalism". 

The term is too ambiguous and gives no clear indication of the relationship to it's elements and the role of government intervention.

Socialism is rounded on because of government intervention.  But all Capitalist societies have government intervention of a different sort - and are ripe for, and rife with, corruption.

VWAndy's picture

As if socialism was not corrupt from the getgo? Bit of a double standard ya got there.


 PS Say hi to your mom for me.

Miles Ahead's picture

Hi to my mum?  Huh?  I don't get it.

Anyway, I never defended socialism.  And btw, it may be flawed - perhaps not beyond redemption - but not corrupt from the "get go".  There's no evidence of that.  But again, I wasn't espousing Socialism.

VWAndy's picture

Well its because she had the same nick name as the one you post under.

 Yes socialism is corrupt from the get go. And yes you are defending it.

KnuckleDragger-X's picture

Bending the system for advantage is a part of all human endeavor. That is, at least in theory, the reason we have government to help create a level playing field. Unfortunately people are corruptible, and sooner or later the corrupt are in charge.......

dchang0's picture

Agreed. Bending the rules/system exists in ALL forms of economic organization, whether it be socialism, communism, whatever. It is important to keep the human behavior of bending the system separate from the systems when comparing systems to each other.

Miles Ahead's picture

Read the comment before mine, then my contribution in context.

outlaw.guru's picture

The problem you are talking about is the problem of every late capitalism system. Every time it ended in a bloodbath, a reset event that destroys wealth. Because sanctity of wealth (especially legaly stolen wealth) is the one true problem of capitalism. But then again it is the foundation of capitalism that makes it the best system in mid capitalism stage.

The reason socialistic policies develop in late capitalism is the lessons learned in French revolution. The goal of a capitalist is to keep the wealth alive at any cost. That is why the average citizen of Greece, Argentina and USA has to live worse every year in order to pay the capitalists their due. No recession will stop it, no (bought off) president nor chancelor, because the greater the wealth, the greater are chances it will be preserved and increased after a recession. That is why Marx said that the revolution is the only solution. In this global day and age, there is no chance for a global revolution against the system because anyone who opposes will be removed (Varoufakis, Fayman, Icelandic PM). The only reset event possible is WW.

Or we can dream about a Plaza accord, Bretton Woods kind of event where the rich would allow their wealth (and even more importantly their household and family wealth) to disappear. Dollar devaluation, direct debt write off or an investment donation would do the trick.

Fixing this part of late capitalism equation is one thing that keeps it from being the perfect system.

Ramble begins: If we could only realise wealth is just game points that measure success in the game of life, we could create a leaderboard list. The people who pay most of the taxes (or infrastructure donations) could receive these points. We could even give them a fancy latin name like Civitas or Honours or Gloria. If this rat race existed (it did before with Bushido) it could provide a road towards the personnal (and family) acummulation of something that does not affect the working of an economy.

Radical Marijuana's picture

E.F. Mutton, "we" are trying Capitalism in ways which include the investments in frauds being reinvested in more frauds, while investments in murders are reinvested in more murders, because those actually resulted in the greatest returns on those investments. Nothing else provides as great a return on investment than to successfully corrupt the government!

Almost 99% of the public "money" is made out of nothing as debts. That is NEGATIVE CAPITAL, and therefore, that has about 99% destroyed "capitalism," which deliberately tends to not publicly consider of how frauds and murders actually are included within the realities of how society works, because the production of destruction controls production, while the most successful destruction is the most deceitful, and hence, the development of the social successfulness of finance based upon ENFORCING FRAUDS.

There is only ONE SYSTEM, because there is only ONE ENERGY. Human beings and civilization live as entropic pumps of environmental energy flows, which most closely match the principles and methods of organized crime, repeating in fractal patterns. In that context, all of the various "-isms" and "-ocracies" are bullshit to bury the basic social facts that the murder systems control everything else.

Money is measurement backed by murder.

Adding any commodity into that statement only superficially changes it. For instance, gold standard money is the measurement of gold, backed by murder.

"Capitalism" superficially corresponds to human beings and civilization operating as entropic pumps of environmental energy flows. However, "capitalism" can not exclude murder and fraud, except through attempts at enforcing some "rule of law," which becomes paradoxical, because the only groups which can enforce their "rule of law" are the biggest organized crime gangs, which are dominated by the best organized crime gangs. Therefore, what actually exists now are globalized systems whereby public governments ENFORCE FRAUDS by private banks, as the most paradoxical perversion of the idealized "rule of law" possible!

That is NOT "capitalism" as defined by dictionaries. That is also NOT correctly described by any adjectives that modify "capitalism" such as "crony capitalism." Similarly, all other "-isms" tend to be bullshit labels that bury the actual social facts.  Those who use terms such as "socialism" and/or "communism" do so in ways which have nothing in common with either the dictionary definitions of those terms, nor the actual social facts.

The only descriptions that are sufficiently complete and consistent are that human beings and civilization operate as entropic pumps of environmental energy flows, according to the principles and methods of organized crime, because the death controls are the central controls, whose most extreme forms are the murder systems, which are most successful by being the most deceitful and treacherous, while those murder systems back up monetary and taxation systems, whereby there are combined murder/money systems that ENFORCE FRAUDS.

It is for those real reasons that what actually exists are public governments ENFORCING FRAUDS by private banks. There is nothing but that core of organized crime, bankster dominated governments, surrounded by layers of controlled opposition groups, all of which tend to stay within the same basic bullshit world views, using labels for political processes which promote false fundamental dichotomies and the related impossible ideals.

The deeper levels of the philosophical problems with the languages used to describe political economy are that those have developed in ways which are operated by professional hypocrites, which publicly present everything they are doing in the most absurdly backward ways possible, BUT, that ends up being socially successful, due to the ways that deceits can be backed up by destruction, and FRAUDS ENFORCED!

Social successes based on being able to back up lies with violence have totally dominated everything that civilization actually did, more and more for thousands of years. Almost exponential progress in physical science has primarily been applied to be able to ENFORCE FRAUDS, such that there are now atomic weapons backing up electronic money, which have become trillions of times BIGGER than the previous systems of paper money frauds, backed by gunpowder weapons.

Social successes based upon being able to back up lies with violence are the backbone of all the established sociopolitical systems, especially the ways that people think and communicate with each other, through languages which routinely use labels for political phenomena that deliberately ignore their dictionary definitions, as well as remain willfully blind to the actual social facts.

Hence, "money" has more and more totally become NEGATIVE CAPITAL, while that is still presented as if that were still symbolic of positive capital. Within those MAD Money As Debt systems, it is ridiculous to assert that there is any "socialism" etc. ... There is nothing but the dynamic equilibria between different systems of more or less organized lies operating robberies, whose most important forms have become the integrated systems of legalized lies, backed by legalized violence, whereby public governments enable the symbolic robberies by private banks, as well as the big corporations that have grown up around those banks.

The various "alternative -isms" tend to be merely varieties of bullshit, because none of them directly admit and address the central issues of the death control systems in general, and the murder systems in particular. The supreme ideology is militarism, because that is the ideology of the murder systems. However, the social successfulness of militarism operates as described in the oldest book on the Art of War, which starts by saying "success in war is depends on deceits," and ends by saying "spies are the most important soldiers."

Thousands of years of human history actually based upon the social successfulness of deceits and treacheries are the reasons for why what actually exists now are systems whereby public governments ENFORCE FRAUDS by private banks, while those basic social facts tend to never be admitted nor addressed by the professional hypocrites that either operate those systems, or operate within the controlled opposition groups that surround those systems.

Some of the most abstract ways that the biggest bullies' bullshit have manifested were through the history of the development of the philosophy of science. There are many examples of that, however, the most relevant to the understanding of political economy are that the entropy equations of thermodynamics and information theory had arbitrary minus signs inserted, so that the measurements of power and information would end up appearing to have relative positive values, when the mathematical physics itself was revealing that those have relative negative values. Since money is measurement backed by murder, money is mainly issues involving information theory and thermodynamics. However, all of that is deliberately misunderstood in the most absurdly backward ways possible!

Therefore, we do NOT have "capitalism" in any way that corresponds to its dictionary definitions, and we do NOT have anything that could be described by any adjective that modified that, such as "crony capitalism." Rather, the public "money" supplies are almost totally NEGATIVE CAPITAL, which are misrepresented as being positive capital. Furthermore, since that kind of NEGATIVE CAPITAL, made out of nothing as debts within the MAD Money As Debt systems, whereby governments ENFORCE FRAUDS, almost totally dominate the existing political economy, it is NOT possible for there to be anything which actually exists that is "socialism" etc. ...

"There Is No Light At The End Of The Tunnel," because those are virtually infinite tunnels of deceits, entangled with each other in hyper-complicated ways. Therefore, it is ridiculously superficial to state that "Capitalism Has A Crisis," since there is nothing which actually exists that is actually "Capitalism."

Basically, human beings and civilization ACTUALLY live as entropic pumps of environmental energy flows, which therefore live according to the methods of organized crime, which therefore are most socially successful by being the most dishonest about themselves, and being able to back up those deceits with destruction, such that the political economy has become almost totally based upon public governments ENFORCING FRAUDS by private banks, within which context all public political debates, such as "capitalism versus communism," etc., are almost totally bullshit, that have nothing in common with either their dictionary definitions, nor the actual social facts.

Natural selection pressures were internalized as human intelligence, which was that applied to the most important selection pressures, which were other groups of people, to result in the history of successful warfare based upon backing up deceits with destruction. That enabled the surviving War Kings to create sovereign states, whose powers were then captured by the Fraud Kings, the international bankers, as the best organized gangsters, the banksters.

Meanwhile, the intellectual mercenaries approved of by those banksters promoted the banksters' bullshit about the political economy. When one does more research, it becomes clear that all of the publicly significant opposition was also controlled by the banksters, such as how the Russian Revolution, etc., was backed by the banksters, who were playing a long global game, applying the principles and methods of organized crime, such as through deceits and treacheries, which worked to end up creating the globalized systems that currently exist.

Although "capitalism" most closely matches the ways that human beings and civilization operate as entropic pumps of environmental energy flows, in the real world that must include frauds and murders. The existing systems are what happens after one adds fraud and murder into "capitalism." Governments exist because organized crime exists, and so, the biggest forms of organized crime become governments (which are effectively controlled by the best organized gangsters.)

Furthermore, any idealized "alternative -isms" are necessarily bullshit, unless they deal directly with their murder systems. However, the history of the most successful murder systems being the most dishonest makes that too intensely paradoxical to be politically possible. Therefore, we have ended up with almost exponential progress in physical science, WITHOUT any genuine progress in political science. Hence, there now exist globalized systems of electronic monkey money frauds, backed by the threat of force from apes with atomic bombs.

It is NOT "capitalism" that is in a crisis. Rather, it is Neolithic Civilization that is in severe crises, due to everything based upon being able to back up lies with violence becoming magnified many orders of magnitude by electronic frauds, backed by weapons of mass destruction. At the present time, "There Is No Light At The End Of The Tunnel," because all of the established sociopolitical systems have ended up being operated by the best available professional hypocrites, and therefore, it is politically impossible to have any relative rational political debates that are genuinely more scientific. 

Civilization is drowning in its own bullshit, and there are currently no good reasons to doubt that it will drown. It would take series of intellectual scientific revolutions, and profound paradigm shifts in the ways "we" perceive "our" political problems to perhaps cope with the ways that previous systems of paper money frauds, backed by gunpowder weapons, have become globalized electronic frauds, backed by atomic weapons.

Pretty well NONE of the publicly significant debates are anything more than more bullshit, thrown around at each other by monkeys and apes, which are still basically acting like primates, despite the prodigious progress in physical science giving them access to powers and capabilities that are trillions of times greater than ever before in human history. In that context, as typically the case in Zero Hedge articles, the article above grossly understates the situation that: "Things will need to get worse before policy can become radically better."

Theoretically speaking, political science should become more consistent with physical science. However, doing so would require series of profound paradigm shifts which would far exceed all previous paradigm shifts. The increasingly blatant anomalies that demonstrate the degree to which governments have become the biggest forms of organized crime, dominated by the best organized gangsters, the banksters, are much more recognized on Web sites like Zero Hedge, than in the more mainstream "news." However, despite those accumulating anomalies, there continues to be practically ZERO sufficiently profound changes in the ways people think, which are being publicly presented in any significant ways. Furthermore, there is almost NO interest in even considering the degree to which how everyone is thinking is almost totally drowning in bullshit, which they continue to take almost completely for granted.

Recognizing that there is NO "capitalism" possible within systems where "money" is made out of nothing as debts barely scratches the surface of the degree to which we are living in Wonderland Matrix Bizarro Worlds, where everything is publicly presented in the most absurdly backward ways possible. Not only do superficially correct analyses tend to be profoundly wrong, but also, their superficial bogus "solutions" are profoundly wrong too.

The deeper problems are that money must be measurement backed by murder, because, politics without violence is as impossible as physics without force. What actually exists are systems whereby FRAUD & FORCE work together, and it is NOT possible to separate them. Rather, natural selection pressures drove the development of artificial selection systems, in ways that resulted in sociopolitical systems more and more becoming operated by the best available professional hypocrites, who were most able to bullshit about what they were doing. Moreover, the degree to which that became socially successful has meant that there are no publicly significant opposition groups which are not also based on the same basic bullshit.

Therefore, there develops the sets of consistent contradictions, that not only DO human beings and civilization live as entropic pumps of environmental energy flows that follow the methods of organized crime, but also those systems deliberately misunderstand themselves. AROUND AND AROUND AND AROUND that went, because all human beings necessarily live as systems of more or less organized lies operating robberies, while those who did that the best were those who were most able to be dishonest about what they were doing.

Meanwhile, exponential progress in physical science has driven that kind of politics to become exponentially more deceitful and fraudulent. In that context, the article above was another superficially correct analysis of the increasingly blatant anomalies that flow from civilization operating through fundamentally fraudulent financial accounting systems. However, such an article, as well as most of the comments made under that, will tend to not go through enough profound paradigm shifts. Rather, collectively "we" continue to drown in "our" own bullshit!

It is barely possible to exaggerate the overall magnitude of the overlapping "Crises" developing because the social successfulness of systems where public governments ENFORCE FRAUDS by private banks require the vast majority of people to deliberately ignore the principle of the conservation of energy, as well as misunderstand the concept of entropy in the most absurdly backward ways, because those people must adapt to living INSIDE ENFORCED FRAUDS, and have done so for generation after generation.

Those overlapping "Crises" are being compounded by the continuing exponential progress in physical science and technology, driving the sets of consistent contradictions between physical science and political science to become bigger and BIGGER. We are living inside systems based upon ENFORCING FRAUDS, which are automatically becoming exponentially more FRAUDULENT.

"Things will need to get worse before policy can become radically better."

DownWithYogaPants's picture

Step away from the bong......and come out with your hands out of your pants

Radical Marijuana's picture

Stop making such pathetic ad hominem vacuous "replies."


"Creative Destruction, Once The Backbone Of Capitalism, Is No Longer Considered"


That is being STORED UP,

as overall trends approach:


"This Is The Tipping Point"



In recent months unexpected calls have emerged from unexpected sources questioning whether capitalism is even working any more ...

Theonewhoknows's picture
Theonewhoknows (not verified) May 9, 2016 11:51 AM

Capitalism replaced feudalism and let people accumulate wealth and be lifted out of poverty by themselves - change their class/work/destiny. The free market capitalism does the best job - what we see now is CRONY CAPITALISM - which differs from socialism only with the % you need to give to the government of your stuff (socialism - you can't own shit, in crony capitalism they taxed the hell out of you so your financial mobility is in the gutter)... Goldman ad DB simply don't understand or don't want to understand the underlying problem and shifts the blame... Check http://independenttrader.org/are-we-waiting-for-another-2008.html

Miles Ahead's picture

During which period has capitalism worked well, sustainable, in the good ol' US of A?

dchang0's picture

True Capitalism is not sustainable nor permanent, and to expect it to last is to ask the impossible. That doesn't mean that it doesn't work or that people shouldn't work towards it. We merely have to be realistic about what Capitalism is, how long it lasts, what good it can do, and what harm it can do.

Comparing Communism, for instance, to Capitalism, we see that Communism also doesn't last, and it does far more harm than good while it does last (before it rapidly transforms into Cronyism, which then transforms into Plutarchy).

Sudden Debt's picture

We're in a fully state controlled communist system already. don't talk about capitalisme anymore because that would be an insult.

KnuckleDragger-X's picture

You can go to any third world village marketplace, and see more capitalism in a day, than you'll see on Wall St. in a deacde........

swmnguy's picture

Indeed.  That's because nobody in that third-world village marketplace has accumulated enough of an advantage to buy the power of government to protect himself from the risks inherent in a free-market capitalist situation.

On Wall Street, the players who are there are there precisely because they have accumulated such an advantage, and have made the investment in what is impolitely referred to as "corruption" to eliminate those fragile free markets so dangerous to accumulated advantage.

VWAndy's picture

 As if what we have now could be called free markets.

bada boom's picture

Capitalism now means an economy run by the capital of the country.

chunga's picture

Leveraged to the balls by institutional gov sanctioned fraud.

Consuelo's picture



 A credit-card/entertainment/sports/latest-Hollywood-controversy/Right vs. Left/LGBLT/Diversity/Global-warming addled electorate doesn't know the difference between a Crony and a Shetland Pony...   Furthermore, they could care less, as long as there is a $$$safety net for them, should easily obtained food and fuel become disjointed...

Snípéir_Ag_Obair's picture

The crisis isnt lack of artificial demand created via expansion of debt-money, it is the idiotic supposition that you can have infinite growth in a finite material world.

These fucking greediots need to be allowed to fail, and/or broken up.

PhiBetaZappa's picture

So as soon as we graduate to a 'recession' from the depression we're in we'll have a crisis..... hmmmmmmm.....


conraddobler's picture

I forever will ban from my own private dictionary the words socialism, capitalism and communism a they have no coherent meaning any more.

When I think of how I'd like to live my life I can think of only one term that fits.  A free market.

People always say they want a completely free market but they don't really.

In a true free market you get trichonosis from some pork producer who cuts a corner to save their business for another month.

You get bad products produced by someone who is making a short term economic decision and you can be killed by this kind of behavior and serve as a sort of market marker for the other caveat emptors out there which will do you, yourself, zero good.

Once you hire some meat inspectors to avoid this you've set off down the road of government bureacracy.   You could privatize things but that doesn't fix anything a private army will run off when you need them most.

You can't have private prisons with incentives to keep inmates in and call yourself a free country.

You can't run a hybrid system of health care because once you hook the money tap up to it the entire system will conspire forever and always to tilt towards the money tap it's like putting a plant in a window and never rotating it, the damn thing will end up growing right upt the window where the light is.

We can't solve these problems with some simple elegant solution because each person is where the problem resides if you have people who are not moral no amount of laws or rules will contain their aggregate immorality.

The solution is to govern those kind of people with zero freedom as they can't be trusted to be free and their very freedoms they abuse are the eventual shackles of the state they're constructing all along the way.

There just are no solutions for the human condition there are no great marble tablets you can carve and let it go at that.  It's forever and always a journey that we're all tied together on.

We're all stuck together as we cycle through the lessons of the ages.  If our fellow citizens/subjects are unworthy of freedom ours will be taken from us simply as a matter of course.

Thinking that our leadership is somehow going to be more moral that the general levels of morality is ridiculous, so goes your neighbor, so goes everything else.

It's depressing really.

Miles Ahead's picture

Good comment.

Relief from those idiots above.

gunsnmoney's picture

OK, smartass.....President Camacho wants to see you in his office, NOW!