SA wrote:
>
>> It will be interesting to watch. But in the meantime, assuming no
> market
> crash, the 3rd and 4th quarters will post robust GDP growth, so there
> will be many more months of jubilant talk of the salvation of world
> capitalism.
Why is so often assumed that economic slump endangers _Capitlism_ (the social system). It never has in the past. Humanity can take almost any degree of misery without rebelling against it in any fundamental way. The crash of the present economy might generate all kinds of horrors and barbarisms, but there is no particular reason to believe that it would generate actual danger to the capitalist SYSTEM. On the contrary, everyone (the working class as individuals) would be so focused on individual survival that collectivea ction against capitalism as such would be almost impossible to organize.
We need a long boom, or aserious _military_ defeat, or something else that w have not experienced before and cannot predic, to make serious resistance possible again.
Carrol