Spirit of Karl Marx

Ankeny, IA

#1 Feb 19, 2013
DEUTSCHE BANK: Communism Is Alive In America

Bilal Hafeez, Deutsche Bank's Global Head of FX Strategy, recently gave a speech at the bank's annual Chinese New Year Dinner in London earlier this week.

Hafeez took a sweeping tour across the global economic landscape, examining the big stories in the United States, Europe, and China.

With regard to China, Hafeez focused on the obvious need for the country to rebalance from a centralized, investment-driven model to a more consumption-driven economy.

What followed after that may not be as obvious: Hafeez advanced an interesting parallel between the U.S. economy and the communist ideal.

An excerpt from the speech is included below:

You may think that the US is the antithesis of the Marxist ideal. You may be mistaken.

In the Communist Manifesto published in 1848, Karl Marx and Friederich Engels demanded a list of immediate actions that capitalist economies should follow on the path to communism. What were they? Free education, well the US has that. Progressive tax system: which the US has. Curbs on inheritance: which the US has. Fair labour laws: which the US has.

Centralised credit: which was perhaps not the case before the 2008 crisis, but is certainly the case now with the nexus of the Fed and regulation providing a strong centralised system of credit.

It also demanded the public ownership of land. This for many is the ultimate differentiator between a capitalist state and a communist state. But even for the US, the picture gets blurred when one considers that 30% of land in the US is directly owned by the Federal government. Of the land that is not held by the US government, 80% of householders are either renting or have a mortgage.

Remember, having a mortgage means that the property is owned by the mortgage provider, not the private individual. In a centralised credit system and as became apparent since 2008, the ultimate underwriter of these mortgages is the US government. So the vast majority of property in the US could be traced back to the state. The spirit of Karl Marx lives on in corners of the world one would least expect!

Read more: http://www.businessinsider.com/deutsche-bank-...
DSM Local

Ankeny, IA

#2 Feb 19, 2013
America may be too far gone, sob...
Christingle Matthews

Minneapolis, MN

#3 Feb 19, 2013
I poop in DSM Local's pants.
DSM Local

Ankeny, IA

#4 Feb 19, 2013
slew is a sick sob
christingle_joke

Mesquite, NV

#7 Feb 20, 2013
I have a bunker..just like I did last night with crassus. My bunker was me finding comfort in his back door, and he welcomed it like poop in a toilet....and yes, I did have poop on my shaft after...
The Spirit

Dallas, TX

#8 Feb 21, 2013
Communism must be purged
The Spirit

Dallas, TX

#9 Feb 21, 2013
I agree with DSM Local great posts

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#10 Feb 21, 2013
Of course Communism is alive and well in America. That is one of the groups that backed Obama in the 2008 and 2012 elections.

http://www.cpusa.org/labor-upfront-special-el...
Bushwhacker

Seattle, WA

#12 Feb 22, 2013
At least Romney had MeatLaof & Nugent, a pair of fine "Americans" ???? LMAOROFU~!
DSM Local

Ankeny, IA

#13 Feb 23, 2013
Smart Liberal wrote:
Of course Communism is alive and well in America. That is one of the groups that backed Obama in the 2008 and 2012 elections.
http://www.cpusa.org/labor-upfront-special-el...
The liberals ARE the communist party at this point
DSM Local

Ankeny, IA

#14 Feb 23, 2013
The Spirit wrote:
I agree with DSM Local great posts
Thanks, maybe Texas can lead the way and outlaw the communist party (the liberals) to help restore the constitution
Iowan

West Des Moines, IA

#15 Feb 23, 2013
DSM Local wrote:
<quoted text>
The liberals ARE the communist party at this point
The rethuglicans are the EVIL party at this point

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#16 Feb 23, 2013
Iowan wrote:
<quoted text>
The rethuglicans are the EVIL party at this point
Evil to whom?

Not to someone who says he/she wants to keep the money they earn rather than have the government confiscate it and give it to moochers in order to buy the moocher class votes.

Not to someone who says everyone should be treated equally.

But, if you are one of those people who think you are entitled to the earnings of other people, and like all the free stuff the government gives you, then you are right.
Bushwhacker

Seattle, WA

#17 Feb 23, 2013
Sounds like the Romney kids, to me... Liberals buy kids educations, cons steal money from the workers and pay instead of parenting.

MOOCHER CLASS=NON TAX PAYERS !!!

The Romneys gave $100 million to their sons and paid not one penny of gift tax. They were able to take assets they have that are producing enormous income and, under the law, give that money to their children and not pay any taxes on it.

Well, I'm sitting here at Broadway Golfer's club. I'm eating my Albacore Caviar finger sandwich and thinking about the thrashing I would have given Slewster, if only my trusty Corvair rent-a-heap would go over ANY of these darn slippery hills Chief Seattle city has. It's been beautiful golfing weather, with fog banks and avalanche warnings in the sand traps. The man at Hertz said the Slewster is a slippery rascal and EVERYWHERE, so I'll be staying far away from any Asian folks and their preoccupation with exercise, healthy living, and standing behind your words, rather than a pride of puffers...
DSM Local

Ankeny, IA

#19 Feb 23, 2013
Smart Liberal wrote:
<quoted text>
Evil to whom?
Not to someone who says he/she wants to keep the money they earn rather than have the government confiscate it and give it to moochers in order to buy the moocher class votes.
Not to someone who says everyone should be treated equally.
But, if you are one of those people who think you are entitled to the earnings of other people, and like all the free stuff the government gives you, then you are right.
The uneducated lazy poor like Iowan want to take from the succesfull
Bushwhacker

Seattle, WA

#20 Feb 23, 2013
"successful" ??

All you're done successfully is misspell, poop your pants, and listen to glam/girl bands. Nice "work" ??? LMAOROTFU~! Ps- On our knees, when you address ALL your "betters".
Capt Crunch

Sedona, AZ

#21 Feb 23, 2013
Bushwhacker wrote:
"successful" ??
All you're done successfully is misspell, poop your pants, and listen to glam/girl bands. Nice "work" ??? LMAOROTFU~! Ps- On our knees, when you address ALL your "betters".
In other words, assume the "betters' favorite position.
Bushwhacked

Seattle, WA

#24 Feb 23, 2013
The better was Irish/SL she was sucking up to, thanks Capt !
Capt Crunch

Sedona, AZ

#25 Feb 23, 2013
Bushwhacked wrote:
The better was Irish/SL she was sucking up to, thanks Capt !
But neither Irish or Smart Liberal used the term, only you did. But I do understand, it's the Liberal instinct to spread out the blame in the hope for absolution.
Bushwhacked

Seattle, WA

#26 Feb 23, 2013
He responded to Trash in suck up form, GET A CLUE !!!

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