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Fri Nov 9, 2012, 07:47 PM

 

"...capital will stimulate working class to buy more and more of expensive goods..."

"Owners of capital will stimulate 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 nationalized, and State will have to take the road which will eventually lead to communism. "


--Karl Marx, 1857



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6 replies, 542 views

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Reply "...capital will stimulate working class to buy more and more of expensive goods..." (Original post)
Taverner Nov 2012 OP
The Magistrate Nov 2012 #1
Taverner Nov 2012 #2
The Magistrate Nov 2012 #5
cliffordu Nov 2012 #3
dimbear Nov 2012 #4
Taverner Nov 2012 #6

Response to Taverner (Original post)

Fri Nov 9, 2012, 07:59 PM

1. Spurious, Sir

"As Abe Lincoln said, 'You can't believe everything you read on the internet.'"

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Response to The Magistrate (Reply #1)

Fri Nov 9, 2012, 08:00 PM

2. But I think Marx was right

 

He predicted this financial crisis

Not saying we should adopt Communism - but there is something there we can use tho

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Response to Taverner (Reply #2)

Fri Nov 9, 2012, 08:04 PM

5. That is Not An Actual Statement By Herr Marx, Sir

Indeed, it would not have been said by anyone in the mid-nineteenth century.

Credit was extended only to people with real collateral, and working people had none....

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Response to The Magistrate (Reply #1)

Fri Nov 9, 2012, 08:01 PM

3. Well......



Yep.

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Response to Taverner (Original post)

Fri Nov 9, 2012, 08:03 PM

4. Check with a globe. After you're done with Cuba, where do you go? n/t

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Response to dimbear (Reply #4)

Fri Nov 9, 2012, 08:04 PM

6. Marx wasn't talking short term

 

He was talking the long road...where EVERYONE is involved

Marx spoke in epochs, not centuries

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