I agree. But it will come back to life again during my lifetime, I think. One can hope.
April 18, 2012, 10:50 p.m. EDT
Capitalism is dead, credit new king, says Duncan
By Chris Oliver, MarketWatch
HONG KONG (MarketWatch) — The world needs to clue in to changes to its economic system, including the death of capitalism, according to noted financial author Richard Duncan, who warns that attempts to turn back the clock on our credit-driven economies could be cataclysmic
What’s evolved is a new global economic paradigm that no longer follows the old script and won’t respond favorably to fiscal austerity, says Duncan, who believes the global economy has remained on the brink since the global crisis.
“I think this represents a new economic system,” Duncan told Marketwatch in a telephone interview from his office in Bangkok. “The biggest impediment the world faces in overcoming this crisis is the broadly held misconception that we are operating in a capitalist system.”
Full piece: http://www.marketwatch.com/story/capitalism-is-dead-credit-new-king-says-duncan-2012-04-18
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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