Speech: How Capitalism Died & Where That Leave Us
Posted April 23, 2021
PLEASE NOTE: The link to the speech did not work when this blog was posted. It has been fixed. Apologies for the inconvenience. RD
Capitalism did not die overnight. It took two World Wars and then some to kill it. But it’s dead now. If you still believe that our economy is driven by laissez-faire “market forces”, then you have no chance of understanding what is going on around you or of determining what is likely to happen next.
This speech explains how the economy and the financial markets work today by describing how we got here.
I strongly suggest that all new Macro Watch subscribers watch this speech as soon as possible. It provides a “big picture” introduction to all the other Macro Watch videos you will see during the months ahead. Long-time subscribers will also find it of interest.
Access is not restricted to subscribers, however. Everyone can watch this speech. Just click on the link at the bottom of this page and the video will play. No password is required.
The speech describes the events and pressures that brought Capitalism to an end and that gave rise to its replacement, Creditism.
Once it is understood how Creditism works, the world begins to make sense again. The massive government budget deficits, money creation by central banks on a multi-trillion-dollar scale, the absence of high rates of inflation and the forces that drive the financial markets are then all easily understood.
This speech took place at an event hosted by Port Phillip Publishing in Melbourne in 2014. It is by no means out of date, however. In fact, the passage of time actually adds to its value in that the economic developments during the years that have followed have largely validated the expectations expressed then concerning the future.
Creditism requires Credit Growth to survive. The years since 2014 have demonstrated the lengths to which governments and central banks will go to ensure that it does.
After watching this speech, if you have not yet subscribed to Macro Watch, I hope you will. Macro Watch will show you how the economy and the financial markets really work in the 21st Century
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