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Is this the final failure of capitalism?
Ok... so the root of the current crisis is an asset bubble that burst (in housing): but is this more than just the usual violence of the invisible hands of Adam Smith? I can only speak for the UK, but there was a weekend when it was touch and go if 3 of the 4 main banks would be able to open on Monday morning before the govt poured in billions of taxpayers money.
Normal people probably mostly dont understand hedging and securities and so on... but they do see bankers rolling in million pound salaries and then getting bailed out. How much more indignity can the people be subjected to, how much more barefaced robbery - before we start to ask the question: humankind as a collective is capable of producing a set amount of resource, and why should it not be shared out equally, rather than be plundered by robber barons and pirates who are bailed out with tax money if they fail? (will we be called cynics if note that most members of govt retire into non exec board membership of big companies)
Each depressions, each shock, each crash is worse than the last... how many more before the people challenge the lies of the elite that "there is only one way"?
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"Do not tell lies, and do not do what you hate,
for all things are plain in the sight of Heaven. For nothing
hidden will not become manifest, and nothing covered will remain
without being uncovered."
The Gospel of Thomas
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