Unfortunately, I have run out of time this morning to comment on this excellent post. However my reaction is probably not needed because the essay can stand on its own. It sums up so much that is true about today's world and the system of capitalism that is destroying it, and written by someone who has a clear understanding of it.
In the twenty-first century, however, the five-hundred year-long expansion of the megamachine is reaching insurmountable limits. On the one hand the accumulation-machine is stuttering: the huge numbers of poor people across the globe and the crumbling middle classes do not have the money to keep buying a growing production at profitable prices. This is why the economy is shifting to finance speculations that erupt in ever deeper crashes, further destabilizing economies as well as states.