In Capital, Marx argues that the tendency toward the centralization of capital is a contradictory phenomenon that reflects capitalism’s fundamentally contradictory nature. He saw capitalism as a system that, on the one hand, liberated humanity from the darkness of slavery, feudalism and religious backwardness; and, on the other, enslaved the toiling masses to exploitation and […]
Category: Finance
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Is the Fed Put real?
“Everyone says, ‘Gee, the Federal Reserve will keep pumping in the money to keep this rising stock market going.’ Yea, maybe it will. Then again, in the end, these are companies, and if our underlying economy disintegrates, which is what’s going on, then eventually these companies will not be able to deliver the dividends or […]
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Debt-to-GDP Ratios
“If debts are not to be reneged upon, they must either be repaid or somehow refinanced. However, not only is much of the new debt taken on since the 2008 financial crisis unlikely to be paid back but, more worryingly, it is compounding ever higher. Our latest estimates suggest that world debt levels now exceed […]
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