Economist, Nouriel Roubini, who accurately predicted the 2008 GFC and subsequently became known as "Dr. Doom", has told The Wall Street Journal that Karl Marx was right in his assertion that at some point capitalism can destroy itself.

http://www.theaustralian.com.au/business/economics/karl-marx-was-right-says-economist-nouriel-roubini/story-e6frg926-1226113566843

Overnight the IMF has warned of a looming double-dip recession, saying the present conditions in the U.S.and Europe could undermine "global expansion".

even a dead clock
is right twice a day

capitalism..is just another ism
all isms are about the elites getting theirs

capitalism needs consumer-ism
no consumer..no capital..no capita-list

currently the consumer is under attack
[i got an invite for a 'credit card'..the other day
ie an invite to spend...with the lure in big words..6 mths 5% intrest

in reading the fine print..it goes into a default rte of 25%
after 6 mths..[thats when capitalist-ism reveals its ugly head

thats when short termism
comes to the head

thats when the chickenc come home to roost

thats when the next card offer comes along
that offers you another 6 mths credit
for the next stage of 'capitalist'..bailout
and the next stage of consumer's debt

we consumers collectivly hold too much debt
at too high a rate of intrest

see that money get issued via the credit card
but the intrst...others need to pay..can only come by others defaulting

jesus was upset at the money changers
now wae are seeing egsactly why

the capitalst abuse of ursury
[at a time when us bankers can get it for 2%
then lend it for 25%...and still we have govts bail the bums out]

offering THEM..the low intrest
while we get shafted

when will govt offer YOU
low intrsst..or no intrst?

or lol the bankers
who have deflated the value..of coin*

bah
why bother

criminals run the money franchise/services

ITS TIME*...to make govt
seize back the instuments..of governance
if they arnt serving the people..they are only serving themselves

[and their colluding criminal mates]

he was wrong about so many things I suppose if you dig hard enough you will find something he said was true.

Whenever any system becomes extreme (that is serving the interests of the few over the majority) it is likely to implode.

Capitalism is no different to Socialism, Communism or any other system in this respect. It nearly always comes down to excesses of greed.

Poirot I am sure that capitalism, in it's current form, is on its way out. I do think that it is a more robust 'system' than socialism but to become a system that works for all of us and not just the few who can live up to the demand for us to constantly striving for wealth.

From my understanding of psychology, the current form of capitalism has passed the point where it made our lives better and now material progress is actually harming us. There is too much choice, too much freedom, too much competition and too little security and restraint and co-operation that many of us need.

In this very interesting article:

http://www.psych.ucsb.edu/research/cep/papers/aer94.pdf

the authors suggest that economists make the incorect assumption that "rational behaviour is the state of nature, requiring no explanation."

I wonder if this assumption is based on the fact that the idea of the market and the invisible hand was developed by a very select group of men who perhaps were able to behave rationally back in C19?

The article provides some fascinating ideas about evolutionary psychology and how our brains work and suggests that we are 'better than rational'.

Runner, you are an economist are you?

So lets hear your explanation about how and why Nouriel Roubini is wrong.

Just trolling again are you?