This is what is making the rounds on the trading floor today!

[ProdigyofZen]

"Owners of capital will stimulate the working class to buy more
and more 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
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism."

Karl Marx 1867
This is the quote making the rounds on the trading floor today.....

My first post to start a thread on here. Karl Marx was a very intelligent man and knew what he was talking about, he basically laid the foundation for the transformation from Capitalism to Communism, we would be wise to heed his philosophy. He spells out what NOT TO DO in Capitalism!. Too bad we are following that path.....

[Chomsky]

Re: This is what is making the rounds on the trading floor today!

"Owners of capital will stimulate the working class to buy more
and more 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
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism."

Karl Marx 1867
This is the quote making the rounds on the trading floor today.....

My first post to start a thread on here. Karl Marx was a very intelligent man and knew what he was talking about, he basically laid the foundation for the transformation from Capitalism to Communism, we would be wise to heed his philosophy. He spells out what NOT TO DO in Capitalism!. Too bad we are following that path.....

Likely a fake quote.

http://www.belgraded.com/blog/food-d...arl-marx-quote

[don]

Re: This is what is making the rounds on the trading floor today!

Marx was not an ideologue. He saw himself as a scientific historian and economist, a political economist. Most of his work is an inquiry into the mainsprings of our different economic epochs, from primitive communism to slave economies to feudalism to mercantile capitalism to industrial capitalism (his era) and a look ahead at finance capitalism. Marx felt that the seeds of socialism would grow from the soil of capitalism as it lost its dynamism and began to atrophy. He wasn't wishing on a red star. Utopianism was not his or Engels game. Only recently have we seen the full expression of capitalism, its logical conclusion in a longer historical view. Monopoly capitalism on a global scale and the commodifying of virtually everything on the planet. What's Next? (that's a different guy) ;)

[jtabeb]

Re: This is what is making the rounds on the trading floor today!

"Owners of capital will stimulate the working class to buy more
and more 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
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism."

Karl Marx 1867
This is the quote making the rounds on the trading floor today.....

My first post to start a thread on here. Karl Marx was a very intelligent man and knew what he was talking about, he basically laid the foundation for the transformation from Capitalism to Communism, we would be wise to heed his philosophy. He spells out what NOT TO DO in Capitalism!. Too bad we are following that path.....

Yeah it's a fake but good update for our times. (hint, they didn't have creditcards in 1867)

[CanuckinTX]

Re: This is what is making the rounds on the trading floor today!

I thought it said credit cards too the first time I read it but it actually doesn't.

[Scot]

Re: This is what is making the rounds on the trading floor today!

"Owners of capital will stimulate the working class to buy more
and more 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
the banks, which will have to be nationalized, and the State
will have to take the road which will eventually lead to
Communism."

Karl Marx 1867
This is the quote making the rounds on the trading floor today.....

My first post to start a thread on here. Karl Marx was a very intelligent man and knew what he was talking about, he basically laid the foundation for the transformation from Capitalism to Communism, we would be wise to heed his philosophy. He spells out what NOT TO DO in Capitalism!. Too bad we are following that path.....

The quote is a fake no doubt created by a Marxist to sucker the gullible into thinking Marx was some kind of prophet.

You got hooked, fish.

[ProdigyofZen]

Re: This is what is making the rounds on the trading floor today!

I thought it said credit cards too the first time I read it but it actually doesn't.

it says credits haha not credit cards, pulled this off the bloomberg today, didnt know it was fake, but might be from manifesto. Credits is what he would probably call anything bought on credit back in his day.

[ProdigyofZen]

Re: This is what is making the rounds on the trading floor today!

The quote is a fake no doubt created by a Marxist to sucker the gullible into thinking Marx was some kind of prophet.

You got hooked, fish.

didnt say he was a propher, and its not proven that is is fake, but aside from that I do not like Marx or his ideas so dont attribute that to me. Just thought i would share wisdom on what NOT to go in capitalism, like what is happening today in terms of the excessive debt. I certainly hope you got that from the original post.

[D-Mack]

Re: This is what is making the rounds on the trading floor today!

http://ipeatunc.blogspot.com/2009/01...ally-marx.html

Sounds prescient, no? One problem: McMegan investigated the quote and discovered that Marx didn't actually write it. Not only that, but he didn't say anything remotely like it. He predicted just about the exact opposite: the working classes would be forced to live in immiserated slums (not McMansions in the suburbs) until they finally rose up and overthrew their capitalist oppressors. Obviously, this is not the state of things.

If you feel like checking on your own, all three volumes of Capital and many other of Marx's writings may be found here.

This website refers to an article where the author claims, because it's not in capital so it's fake. To be 100% sure one would have to search all his works, which I'm not going to do

[ggirod]

Re: This is what is making the rounds on the trading floor today!

Originally Posted by Scot
The quote is a fake no doubt created by a Marxist to sucker the gullible into thinking Marx was some kind of prophet.

You got hooked, fish.

I would think it to be much more likely that the posting came from the political right, as part of what will be a never ending stream of socialist/marxist/class warfare innuendo spewed at the new President and Congress. Watch for this to be followed up by lots more of the same except, over time, the spew will become more shrill.

The right finally figured out that we are tired of being told to be afraid of terrorist bogeymen in our midst, but they also figure most of us have forgotten the cold war and the anticommunist blather that once filled the right wing's mouths. So, let's restore that good ole fear of the Commies.

[CanuckinTX]

Re: This is what is making the rounds on the trading floor today!

This website refers to an article where the author claims, because it's not in capital so it's fake. To be 100% sure one would have to search all his works, which I'm not going to do

Quote:
http://ipeatunc.blogspot.com/2009/01...ally-marx.html

Sounds prescient, no? One problem: McMegan investigated the quote and discovered that Marx didn't actually write it. Not only that, but he didn't say anything remotely like it. He predicted just about the exact opposite: the working classes would be forced to live in immiserated slums (not McMansions in the suburbs) until they finally rose up and overthrew their capitalist oppressors. Obviously, this is not the state of things.

If you feel like checking on your own, all three volumes of Capital and many other of Marx's writings may be found here.

Today's McMansions could be tomorrow's immiserated slums! He may just be correct eventually!

[Scot]

Re: This is what is making the rounds on the trading floor today!

The right finally figured out that we are tired of being told to be afraid of terrorist bogeymen in our midst, but they also figure most of us have forgotten the cold war and the anticommunist blather that once filled the right wing's mouths. So, let's restore that good ole fear of the Commies.

Better that the political right do it through their blather than have the communists themselves remind us just how dangerous they are.

[freuchie]

Re: This is what is making the rounds on the trading floor today!

Like Dan Rather. Fake but accurate!

[metalman]

Re: This is what is making the rounds on the trading floor today!

Marx was not an ideologue. He saw himself as a scientific historian and economist, a political economist. Most of his work is an inquiry into the mainsprings of our different economic epochs, from primitive communism to slave economies to feudalism to mercantile capitalism to industrial capitalism (his era) and a look ahead at finance capitalism. Marx felt that the seeds of socialism would grow from the soil of capitalism as it lost its dynamism and began to atrophy. He wasn't wishing on a red star. Utopianism was not his or Engels game. Only recently have we seen the full expression of capitalism, its logical conclusion in a longer historical view. Monopoly capitalism on a global scale and the commodifying of virtually everything on the planet. What's Next? (that's a different guy) ;)

marx was a great economist with a brilliant mind, but only heavy editing of his work can wash away the fact that he advocated genocide to achieve the ideal communist state... specifically serbs. killing millions wasn't only stalin's or mao's idea, and maybe hitler got the idea from stalin...

[Rajiv]

Re: This is what is making the rounds on the trading floor today!

From a review of "Das Kapital - vol 3" - "Part VI: Interest, Rent, and Labor Use-Values"

Introduction

Marx parses "capital" into minute segmentations in his usual style. In addition to productive capital and commodity capital, there is "money-capital" - which is gold and other currency - and "moneyed-capital" - which is interest bearing capital such as bonds, mortgages and stocks. Dividends are viewed as just a form of interest.

Marx is a preeminent confounder of terminology - but he complains about the confounding of "banking" capital with "real" capital.

The debt obligations of governments constitute "capital" to the lender, and indeed, such obligations are saleable like other forms of capital. However, to Marx, such capital is "illusory, fictitious capital" for the economy and society since it is not being borrowed for productive purposes. It is consumed and cannot be recalled. It is just a claim on the state's revenue. The illusory nature of such paper-capital is revealed when payments stop and there is not any productive assets or valuable commodities as security. (Credit-worthiness and the promise to pay have no value to Marx.)


"[After all,] this capital does not exist twice, once as the capital-value of title of ownership - stocks - on the one hand and on the other hand as the actual capital invested, or to be invested, in those enterprises. It exists only in the latter form, and a share of stock is merely a title of ownership to a corresponding portion of the surplus-value to be realised by it."

Indeed, all "moneyed-capital" is "purely fictitious capital." "[The] capital value of such paper is - - - wholly illusory." Even when capital is raised or borrowed for productive purposes by issuance of stocks or bonds, the "real" capital resides in the facilities and commodities of the factories, not in the paper in the hands of the money-capitalists.

"[After all,] this capital does not exist twice, once as the capital-value of title of ownership - stocks - on the one hand and on the other hand as the actual capital invested, or to be invested, in those enterprises. It exists only in the latter form, and a share of stock is merely a title of ownership to a corresponding portion of the surplus-value to be realised by it."

The distinction between a "capital asset" and a "title of ownership" is just another of Marx's distinctions without a difference. The actual value of the capital resides in the paper title, even though the asset is being used by the company - exactly as if the asset itself - like a vehicle - was borrowed from the title holder. Today, much business is conducted with temporarily leased assets

.

Actual English translation of Part VI can be seen here