This post is one that I wondered about. Not because it would have been full of the kind of rude words that normally stud my lipreading when watching TV football, nor because of views on highly sensitive matters, for example on Muggletonianism (see Wikipedia) which may have caused some angst.
It is because it is a long and hefty piece that appeared on the Naked Capitalism web site that takes time to read. It is not difficult, but complicated and is a survey of the development of what we call “capitalism” from the past to the present.
Essentially, it takes us from a world when finance was more restricted and limited in ambitions to the present day when democracy is dying, if not dead, and individuals, communities and governments are faced with insupportable debt.
The title of this post is taken from “Paint Your Wagon” with Lee Marvin and Clint Eastwood (see Youtube); a parable for our times.
It is drawn from Michael Hudson’s recent book “The Bubble And Beyond: Fictitious Capital, Debt Deflation And Global Crisis” that attempts to describe how we got where we all are today, like it or not.
The question that he does not answer and may not be able to because nobody can is where we will all finish and what will or can happen in the next five years, let along the next fifty.
The most risible thought is that either Obama or Romney can handle any of this or indeed begin to understand it.
We can safely assume that Merkel and Hollande do not. Nor can any of the leaders of the BRIC countries, notably
surrendered to the Walmart and Tesco Raj. India
And as for Cameron, Clegg, and Miliband etc. do stop laughing.