So start investing, trading, betting on stocks, bonds, etfs, commodities. At least that’s what those crafty Wall Street gamblers want you to think. Yes, the same million dollar bonus babies whose hi-risk bets triggered the 2008 meltdown.
Wrong. Bad advice. Don’t listen. Americans lost over 50% after the 2008 meltdown, next one will be far worse.
Not only won’t the economy recover soon, Yale’s Immanuel Wallerstein, the leading scholar on “world systems” analysis, says the global economy will never recover. Yes, never.
The conventional wisdom says markets and economies move in cycles, ”upturns always occur after downturns.” Wallerstein warns: “All systems have lives … the capitalist world-economy has been in existence for some 500 years … functioned remarkably well. But … it has moved too far from equilibrium … in structural crisis. The only sure thing is that the present system cannot continue. The fundamental political struggle is over what kind of system will replace capitalism, not whether it should survive.”
Capitalism is dying. Don’t say you weren’t warned. (For the complete Wallerstein article see Foreign Policy)