Surviving Capitalism (Not) : ‘The Bull Move Has Lasted So Long Nobody Can See Its End’

We’ve lived so long under the spell of hierarchy—from god-kings to feudal lords to party bosses—that only recently have we awakened to see not only that “regular” citizens have the capacity for self-governance, but that without their engagement our huge global crises cannot be addressed. The changes needed for human society simply to survive, let alone thrive, are so profound that the only way we will move toward them is if we ourselves, regular citizens, feel meaningful ownership of solutions through direct engagement. Our problems are too big, interrelated, and pervasive to yield to directives from on high.
—Frances Moore Lappé, excerpt from Time for Progressives to Grow Up

Thursday, August 21, 2014

‘The Bull Move Has Lasted So Long Nobody Can See Its End’

Click here to access article by Wolf Richter from Wolf Street.

See if you agree with what I see as an underlying message in this article and others he's written: the economy, wrecked in 2008 by years of risky bets promoted by banksters, has since been largely sustained by a bubble of cheap money supplied to capitalists and created by the Fed out of nothing, is now teetering on a precipice and will soon come crashing down.

While noticing that Wall Street stocks seem to be levitating today to ever greater heights, I have a strong feeling that he is right. Because the cheap money party has lasted so long, many investors will have their delusions shattered in the coming collapse. Unfortunately, working people as always will suffer the worst damage. Ain't capitalism wonderful?