Re:One of the world’s largest investment banks: ‘Greedflatio...
by ben_w on Sunday April 09, 2023 @06:33AM
(#35501416)
> Today is not like 30 years ago.
Same argument applies to someone speaking at the dawn of WW1, the great depression, Roosevelt's New Deal ending laissez-faire, WW2, the cold war, and at the fall of communism.
The first item on that list, WW1, was about 12 years after "end stage capitalism" was coined, while that blues singer singing about "woke" was around the New Deal era.
Did you like miss the entire financialisation? Today is not like 30 years ago.
The amountof moneu invested in 3rd order financial derivatives dwarfs the amount of money we invest in real physical cool like infrastructure.
The amount of concentration in supply chains has also never been seen in the entire world history- many high tech good like hard disks are only made in 1 or 2 locations in the world.
Finally, crash of current capitalism does not mean we will have communism, we will just have another capitalism that is less retarded. Kind of like how we replaced the gold standard.
https://en.m.wikipedia.org/wiki/Financialization