/biz/ - Business & Finance

>>17797622
That is, infact, not the definition of Capitalism Karl Marx held, or, anyone up until Austrian economists perverted the meaning of Capitalism. Capitalism was and is to this day defined by the private ownership of the means of production in a market economy based on wage labor. By and which the production of Commodites are held for the generalized mass production for profit.

There in lies the problem, no matter what way you cut it the mass production of Commodites, not for need, but for profit will soon us all. Simply look to the rate of profit and it's slow decline and you will understand that innovation in a Capitalistic economic system as defined above will lead to the impoverishment of the many by the few.

Innovation means less jobs and therefore less circulation of Capital itself. Is that not what we see today? Yes, this can be off set in many ways, but it is a slow degradation. That is why most of the current economy is built on a thin layer of air; speculation.

Capitalism as an economic system and the inherent contradictions with in the system itself cannot last forever.

This crash is not over, imo and will only get worse. The virus was simply the catalyst for the speculative bubble to finally pop. Imo we will see a massive rally around what is ultimately the mother of all bulltraps.

I hope this is not the case, but, history has never shown this bounce to end favorably. To me, this is the global Economic crisis manifesting itself in reality.

>>17749742
pic related bad