In April, Société Générale economist Albert Edwards released a scathing note saying he hadn’t seen anything like the current levels of corporate greed in his four decades working in finance. He said companies were using the war in Ukraine as an excuse to hike prices in search of profits.
“The end of Greedflation must surely come. Otherwise, we may be looking at the end of capitalism,” Edwards wrote. “This is a big issue for policymakers that simply cannot be ignored any longer.”
Don’t threaten me with a good time.
Seriously, promise?
I and my family will take the painful collapse and rebuild, because at least that provides hope for a better future, unlike today’s path, further enriching a few thousand sociopath’s ego scores in their race to see who can burn up the the planet for private profit the fastest.
Living under the tyranny of the greed class is just pain by design. Pain in generational perpetuity.
Yeah, seriously. The path is so obvious and linear for society today due to that. I feel like it just gets easier to predict the future, from axioms such as “the rich are powerful and will always try to expand their influence and cement their rule”.
It’s easy to see that climate change will never be solved for as long as something big doesn’t change, wealth inequality will keep rising, it will just keep being more and more expensive to live and own things, working conditions won’t improve or may even worsen, automation will put out more and more people out of a job, creating a massive crisis, poor countries will get worse leading to wars or other crises, and ever more commercialization of everything, such as art and hobbies.
At least, unless it collapses/a revolution happens.
We’ve had political, social and economic revolutions before without shit collapsing. Lots of death and destruction though generally. People don’t give up power easily unfortunately.
He’s literally complaining about capitalism while saying it might end capitalism. Fucking wild.
Accelerationism is a fucking dogshit ideology, but just like all dogshit ideologies, there’s an element of truth to it. Shit like this could literally end capitalism.
if you literally break the economy to the point where average people can’t afford necessities, it’s over. people won’t work if there isn’t food and a roof as rewards. they’ll be forced to seek those needs outside the system. many will die in this process but none will work for capitalist profit
The thing is, it’s an inevitability of capitalism. When you have a system who’s measurement of success is how much material wealth you can accumulate, people are going to do their best to accumulate as much wealth as possible. Which means putting basic needs on the back burner if they don’t make you enough money.
I think people wanting stuff is pretty much endemic to people, whatever economic system happens to be in place.
True, but capitalism incentivises wanting beyond what you can possibly use. Billionaires could never genuinely spend all of their money on themselves. It’s human to want what you don’t have; it’s inhuman to want to amass more than you could use by taking it from the mouths of others.
He’s an economist at one of the worlds top financial company, of course he considers capitalism has some good and wants to preserve it.
it’s telling how capitalists are worrying they’re fucking us too hard and might blow up the whole system in the process. their own stability in massive wealth and inequality would be safer if they’d back off a little but they can’t help themselves
I feel as though there’s a lot of one-upmanship in the capitalist class that prevents them from working in their own long-term best interest, coupled with a sense of infallible invincibility. Many capitalists believe they have what they have because they deserve it, and any moves to redistribute wealth that would maintain the status quo become untenable because of that constant drive to have more than your neighbour.
I can’t wait for capitalism to end. Here’s a good video explaining it…
‘Why it’s a hard time imagine life after capitalism’ https://youtu.be/PaASqPnpq5Y