Its that bloody Karl Marx again!!

"Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits until their debt becomes unbearable.
"The unpaid debt will lead to bankruptcy of banks, which will have to be nationalised and the state will have to take the road which will eventually lead to communism."


Karl Marx Das Kapital 1867 (Spoof quote!!!)


The 1980s and 1990s were a period when the ideas of Marxism were fought, defeated and allegedly laid to rest. The 2000s saw a so called new labour government that peddled a 'third way' idea that came crashing down with the credit crunch further poo-poo the ideas of Marxism with their support for neo-liberal ideaology.

Now with the world recession caught tobogganing towards a deep depression caused by the economic policies evangelised by Reagan and Thatcher we see the appearance of capitalists rediscovering Marx.

Here is the view of Stephen King, the chief economist of HSBC.