In the News (from The Independent): “Brown flies to meet President Obama for economy crisis talks” Paul Volcker, former chairman of the Fed and now adviser to President Obama, said that, while he felt capitalism would survive, “I’m not so sure about financial capitalism.”
In the News (from The Socialist Alternative): “Marx on the Cover of Time Magazine in Europe — Capitalism Losing Legitimacy” Karl Marx made the front cover of the February 2 issue of the European edition of Time Magazine, displaying the weakening confidence of the capitalist ruling elite in their system.
In the News (translated from Utro.ru): “Capitalism Will Not Survive the Crisis” Some members of the US economic elite are fearful that capitalism will be replaced by socialism.
Karl Marx said, “Owners of capital will stimulate the working class to buy more and more expensive goods, real estate and equipment, pushing them to take more and more expensive loans until the loans end up in default. The defaulted loans will cause banks to go bankrupt and nationalized by the government, and this, in turn, will lead to the emergence of communism.”
My Comment: Marx predicted the future rather well. We underestimate him only because Russia did not carry out its experiment correctly. If they would have done it according to Marx, then everything would have worked out. But in actuality, they would have not even attempted it because they were not ready for it.
Now these ideas are starting to come to life regardless. In fact, Marx derived his theory from practice, basing it on the development of human egoism. For more, see the newspaper, “The Nation.”