Now it is true that I have been known to overdo the use of ‘foul language’ but in the circumstances it seems only possible to paraphrase Richard Mottram:
We’re all fucked: I’m fucked, you’re fucked, the whole world’s fucked*
* Except possibly China and some of the Gulf states**
**But including the vast majority of their population, whom are fucked on a daily basis
I have been saying that I want to get a qualification in economics after I finish my current MSc but it seems like it wouldn’t be worth the paper it was written on. Whilst I’m not saying this is the fall of capitalism, it is one head-fucking paradigm shift.
The FTSE had the largest one day drop E V E R. Stockmarkets everywhere, including Russia and India having massive falls. Iceland possibly bankrupt.
Where did it all begin? Greed is probably a good place to start but we’ve always had that so that doesn’t really explain much. Nope, the complete irrational exuberance of the market and the human race seems the main culprit. Government (in all countries, of all political colours and types) and multinational corporations have taught us that stuff is good, which clearly it is, but also that we all deserve it.
There is a link between the growth of celebrity and reality TV and the recently deceased hyper-capitalist model. Celebrity and reality TV teach us what we want and that we can all deserve and can achieve it, no matter how brain dead (someone please explain Peaches Geldof). The truth is that stuff is actually scarce and as such costly, however the miracle of credit banishes that truth.
Again, we have always had credit but the magical ‘masters of the universe’ created new ways of banishing reality (you’ve got to give it to them, they must have been tripping their nuts off dealing with all those unreal numbers and financial models). Whilst not rocket science or even particularly clever (the annoying bastard Robert Peston’s book ‘Who Runs Britain?’ simply exposes that myth) these people made shit loads of money, as it turns out out of other people’s misery. But this doesn’t actually matter either, the government let them and even encouraged it. And so did we, we wanted stuff and felt we deserved it.
So as a great philosopher once said:
The kaleidoscope has been shaken. The pieces are in flux. Soon they will settle again.