The problem is that economy is now toxed out. Radioactive. Crawling with paper vermin and all manner of vermin, especially toxic derivatives - about $1.4 quadrillion worth (even as we are still trying to get used to hearing the term trillions), according to the Bank of National Settlements. That is 1,000 trillion, or $190,000 for every human being on the planet. There is not now, and never will be, enough wealth to cover that puppy, because there is not enough natural world under the puppy to create it. Not the way capitalism creates wealth.
Defenders of capitalism who say it can and must be saved must also admit that there is not enough money left to work with, to invest. There is only debt. Oh, yeah, we forgot; debt is wealth to a banker. Well then, all we gotta do is collect $190,000 per head from people in Sudan and Haiti and the rest of the planet.
- Joe Bageant - view full essay