Loading ...Ipso I consider that story incomplete. Re socialism, what came first? Socialism or poverty from inadequate wages? Look out when big business is in charge. Watch out when dumb politicians are in charge. Power seems to rotate over time.
The story made no mention of very high oil prices to $145/bbl bringing prosperity, they all adjust spending, or zig, and later while they are all zigging, oil crashing to $28/bbl, zagging, so now another adjustment is taking place. They all have to zag now.
Another thing to consider. Here in the USA as tptb exported our jobs, to over ride that, they (big business influences gov’t reps) allowed the starter wages to decompose, not keep up with inflation. Lower than normal wages do create more jobs. Its like labor on sale. A bargain. Get some more right away.
To make the point, if wages were back to $3/hr millions of business startups would unfold, and tens of millions of new jobs would be created. I have a friend that had 60 retail people employed at minimum wage. With a normal wage he would not be in business at all.
Over time the low wages kill the businesses because all the customers can’t afford higher costs. This is simple stuff and the fake news (big business) media should try to educate people rather than fool them. But at that point they would be going against themselves.
I guess as things get worse, the people get pissed and vote for an outsider for a change. 🙂 Big global businesses are or were the only group enjoying unfettered capitalism, but causing poverty and socialism in various places, and bringing prosperity in places like China.