[Archived] The End Of Global Capitalism?

[grizfoot]

The amount of companies that have gone bust over the past few years is remarkable really. There's the collapses of big companies like Rover, Northern Rock, XL and most recentley Lehmen Brothers that have made all the headlines. Now there's even fears that insurance giant AIG could be in serious trouble as well.

There's also been a big decrease in the share price of HBOS (Halifax Bank Of Scotland) over the past couple of days as there's uncertainty in the stock market after the collapse of Lehman Bros. The annoying thing about all this is it's the working-calss taxpayer that is hit the hardest, the CEOs and directors who have been reasonable for the collapse of companies still have their multi-million pound mansions to go back to. But it's everyone else who suffers through unemployment, inflation, house prices, pension funds and availability of credit. All of this due to coropate greed

How bad can this actually get? Yes the Government can continue to pump money into the system and into company resuce missions but how long before people will start to lose faith in the banks or even worse in the currency itself. Yes we are part of an economic system that tells us that everything can't be all cheery forever and at some point they will have to be bleeps. Only time will tell how bad this 'bleep' will be but it certaintly looks like bleak times ahead.

[DP]

Capitalism feeds apparently. Looks like the model broke somewhere

[Billy Castell]

I think a few major companies are going to go bust, some changes will be made to how they all do business, and some brave mega rich capitalists will take advantage of the low share prices and make a killing. Then things will pick up, the rich will get richer, whilst many will suffer. Capitalism will remain the prevelant economic model, and we'll all have less power. I do believe Althusser was onto something when he said capitalism can change and become something that appears different.

Those who created this timebomb, and those who deliberately set events in motion in order to screw the greater public for personal advantage must pay.

[yoda]

I think a few major companies are going to go bust, some changes will be made to how they all do business, and some brave mega rich capitalists will take advantage of the low share prices and make a killing. Then things will pick up, the rich will get richer, whilst many will suffer. Capitalism will remain the prevelant economic model, and we'll all have less power. I do believe Althusser was onto something when he said capitalism can change and become something that appears different.

Those who created this timebomb, and those who deliberately set events in motion in order to screw the greater public for personal advantage must pay.

The Bildebergs alway win!

[dave birch]

If you aren't looking for opportunities now, then you don't want to be rich.

There are people bailing out of companies that will be needed in a few years. Have you ever thought how Getty made his money?

A time of opportunity for the brave.

[Billy Castell]

That would be great, but as usual, the crisis has come when I have no money at all!

[mattyboy6000]

If you aren't looking for opportunities now, then you don't want to be rich.

There are people bailing out of companies that will be needed in a few years. Have you ever thought how Getty made his money?

A time of opportunity for the brave.

or the wealthy.

cue sovereign wealth funds buying up big shares of banks

Nathan Mayer Rothschild swept up at the end of the Waterloo by spreading rumours Waterloo was lost, buying low and then selling high once the news of victory came in. apparently

[grizfoot]

HBOS confirms Lloyds merger talks

If that goes through it basically means that three former banks are now all under one company. Surely they'd have an unhealthy chunck of the banking market.

[Billy Castell]

Not sure it will be blocked though given the lunacy of the past few days.

[Redrose49er]

There was a great quote in one of the papers, "You can't keep going to the free bar without expecting to wake up with a hangover". Sums it up perfectly, a decade of 'goldilocks' economy must be followed by a downturn.

[92er]

HBOS confirms Lloyds merger talks

If that goes through it basically means that three former banks are now all under one company. Surely they'd have an unhealthy chunck of the banking market.

There was an item on Radio 4 suggesting the Govt was probably willing to see the merger go through rather than HBOS go under, and despite the new Bank being the potentially dominant player in the mortgages/savings industry.

[Bazzanotsogreat]

What is the viable econmic alternative? communism-failed global systems theory- untested and somewhat skewed.

Capitalism will remain; it remained after the wall street crash and after Europe was smashed during WWII

[blue phil]

There was a great quote in one of the papers, "You can't keep going to the free bar without expecting to wake up with a hangover". Sums it up perfectly, a decade of 'goldilocks' economy must be followed by a downturn.

In what was otherwise a Godawful speech today by the latest Lib Dem leader , Clegg came up with the astonishing statistic that public spending has doubled since New Labour came to power .

How the hell can we afford that kind of spending ? I think we're going to be paying for that kind of "prudence" for some years to come . It probably explains why we're so badly prepared to meet the slump .

Stand by for the Tories to wield the axe when they get in . The public sector and the welfare budget are in for hard times . Hopefully the right targets will be hit .

Capitalism will remain; it remained after the wall street crash and after Europe was smashed during WWII

It only remained because of the result of the war . History hasn't ended yet .......and the Earth's resouces aren't infinite .

[jim mk2]

Stories on the news tonight that the US government has had to seek emergency funding because it has run of cash rescuing the likes of Freddie Mae, Freddie Mac, AIG etc etc .

I was in t' building society today and some folk were inquiring about withdrawing their cash because they are worried about their savings.

People are frightened ......

[Billy Castell]

So the USA is in danger of going bust? Says a lot about the market when tales of whole countries in trouble. Whoever wins the election over there will have a right mess to deal with.

[mattyboy6000]

this happens every twenty years or so. if they didn't wipe everyones savings out and indebt everyone with huge mortgages half of us would stop going to work which would suit none of the bourgie

[BuckyRover]

In what was otherwise a Godawful speech today by the latest Lib Dem leader , Clegg came up with the astonishing statistic that public spending has doubled since New Labour came to power .

How the hell can we afford that kind of spending ? I think we're going to be paying for that kind of "prudence" for some years to come . It probably explains why we're so badly prepared to meet the slump .

Stand by for the Tories to wield the axe when they get in . The public sector and the welfare budget are in for hard times . Hopefully the right targets will be hit .

It only remained because of the result of the war . History hasn't ended yet .......and the Earth's resouces aren't infinite .

I haven't been around long enough to know first hand, but that seems like the general pattern.

Labour spend; Conservatives save

[thenodrog]

I haven't been around long enough to know first hand, but that seems like the general pattern.

Labour spend; Conservatives save

and Liberals whine about both!

[jim mk2]

I haven't been around long enough to know first hand, but that seems like the general pattern.

Labour spend; Conservatives save

Labour spend on the needy ; Tories save money to provide tax cuts for the rich.

Voila.

[thenodrog]

Labour spend on the needy ; Tories save money to provide tax cuts for the rich.

Voila.

Hark at the recently revealed brfc mboard equivalent of Gordon Gekko!

[jim mk2]

You wind 'em up and you reel 'em in.

Well done Gord.

[Bazzanotsogreat]

Labour spend on the needy

Voila.

That’s why there are record numbers of people living under the poverty line. NEW Labour is simply a re-packaged botched attempt of Thatcherism.

They have done next to nothing in terms improving society for the average white working class man & women .Infact times are much worse for the indigenous population of England.

Jim you have been quite a frequent poster on the “2 million unemployed by Christmas thread” .Even someone as blinkered and dogmatic as yourself; must admit that this current administrations economic policy is nothing short of appalling.

[BuckyRover]

Labour spend on the needy ; Tories save money to provide tax cuts for the rich.

Voila.

Like the abolition of the 10p tax band?

[blue phil]

Too true ...and the pensioners will be thanking Labour for all their help when the fuel bills need paying .

What they get from the gov't is a bit of help with insulation and increased cold winter payments (but only if temperatures are zero or less for a full week )

Of course , no measures have been taken to ensure the energy companies increase charges in other areas to cover their "losses" .

It's no wonder that the wealth gap between rich and poor is greater now it ever was . The British working classes are held in utter contempt by this Labour government . Their only concerns are for the middle class liberals and foreigners .

[thenodrog]

You wind 'em up and you reel 'em in.

Well done Gord.

err your lookin in a mirror right Gecko?