A number of the world’s biggest banks have crashed, surviving only through massive financial injections from world governments. The stock markets in Asia, Europe and the Americas have lost over $25 trillion dollars since the beginning of 2008. Over one million people in the U.S. alone have lost their jobs in the same period. South Korea’s stock market index has fallen 42.6 percent. Countries from Singapore to the U.S. to Germany are “officially” in recession. News continues to come in at a rate that makes it impossible for us to keep up with, but needless to say things are only continuing to get worse.
So what did Marx say?
"The ultimate reason for all real crises always remains the poverty and restricted consumption of the masses as opposed to the drive of capitalist production to develop the productive forces as though only the absolute consuming power of society constituted their limit.” - Capital, Volume III, Chapter 30.
"...n the same measure in which the capitalists are compelled.... to exploit the already existing gigantic means of production on an ever-increasing scale, and for this purpose to set in motion all the mainsprings of credit, in the same measure do they increase the industrial earthquakes, in the midst of which the commercial world can preserve itself only by sacrificing a portion of its wealth, its products, and even its forces of production, to the gods of the lower world – in short, the crises increase. They become more frequent and more violent, if for no other reason, than for this alone, that in the same measure in which the mass of products grows, and there the needs for extensive markets, in the same measure does the world market shrink ever more, and ever fewer markets remain to be exploited, since every previous crisis has subjected to the commerce of the world a hitherto unconquered or but superficially exploited market." - Wage-Labor & Capital, Chapter 9.
“Contradiction in the capitalist mode of production: the laborers as buyers of commodities are important for the market. But as sellers of their own commodity — labor-power — capitalist society tends to keep them down to the minimum price.
“Further contradiction: the periods in which capitalist production exerts all its forces regularly turn out to be periods of over-production, because production potentials can never be utilised to such an extent that more value may not only be produced but also realised; but the sale of commodities, the realisation of commodity-capital and thus of surplus-value, is limited, not by the consumer requirements of society in general, but by the consumer requirements of a society in which the vast majority are always poor and must always remain poor.” - Capital, Volume II, Chapter 16.
Better go out to the Barnes and Noble there at the Eastside Mall, Tman, IF it's still in business, and pick yer ass up a new copy of Das Kapital, bitch, and learn the truth.
America's collapse completed by 2011.
