Posted on 11/04/2011 9:18:38 PM PDT by Tailgunner Joe
Die-hard Marxists and others raised in formerly Communist east Germany feel Europe's sovereign debt crisis has vindicated their once-ridiculed warnings about the perils of unbridled capitalism. ....
European leaders struck a deal with private banks on Thursday to try to contain the debt crisis but doubts about the global financial system linger in Berlin, a city split by the Cold War that has witnessed an improbable revival of interest in Karl Marx since the financial crisis began in 2008.
"These banks have a ludicrous business model and it's extremely dangerous for us all," said Sahra Wagenknecht, a member of parliament and a fiery leader of the Left party that traces its roots to Erich Honecker's SED party.
"They're pulling the wool over the eyes of taxpayers," she said to thunderous applause in a recent German TV talk show, adding that for example only about four percent of Deutsche Bank's business is traditional commercial lending.
"Everything else is bets, gambling and speculation. They take risks because they know the state will bail them out. It's time everyone realized it can't go on otherwise we'll need one rescue package after another and even Germany will be broke."
Skepticism about U.S.-style capitalism was already deeply entrenched in Communist East Germany, a country with no unemployment and no competing banks.
And while some of the criticism may be traced to "Ostalgie" -- a romanticized view of the old East Germany that skips over the secret police and repression -- Wagenkneckt's critics acknowledge that her anti-capital arguments are gaining new backers across Germany.
"Marx goes mainstream," the conservative newspaper Die Welt noted of the way Wagenknecht's views now command respect or at least a respectful audience compared to scorn a decade ago.
"Hardly anyone contradicts her radical attacks on capitalism anymore," it wrote.
(Excerpt) Read more at reuters.com ...
What does loaning money to a socialist government have to do with capitalism?
Communists and Marxists saying “I told you so”. ROTFL!!! Those losers just won’t give it up. I went into East Germany and Czechoslovakia after communism collapsed. I saw the alternative. No thanks sweetie. You can keep your Marx bull****.
We haven’t had capitalism,,,crony deals with a centrally planning government is NOT capitalism. When those deals predictably implode, they want a remedy of even MORE socialism.
Not exactly unbridled capitalism.
(As long as she keeps her mouth shut.)
Exactly. Sounds like “Bridled Capitalism” to me.
It was socialism and sloth that has hurt the world economy. Not capitalism.
('Bout time Abbie Hoffman & co. had a batback.)
” - - - Communist East Germany, a country with no unemployment and no competing banks.”
HEY Obama! The workaholic Germans have already tried to achieve what you want America to be.
How did that work out?
“STFU” says American conservative.
Heh, “improbable” revival instead of ongoing interest. This MSM is wishing for the day when they get to be the government’s official mouthpiece.
Yeah I realize I’m just serving as an echo chamber here, but we haven’t had unbridled capitalism in nearly a hundred years./
Describing the modern banking systems as "unbridled capitalism" just proves the willful ignorance of Marxists.
That is already the case in the USA. They are now the MOP, Ministry of Propaganda.
≤}B^)
I guess if your going to be strapped in a metal chair in a damp Stasi prison basement and hit repeatedly with a cattle prod, you might at least hope that she's the one wearing the high leather boots.
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