Capitalist Crisis 80 Year Warning

de bene esse: literally, of well-being, morally acceptable but subject to future validation or exception

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Eighty year warning.

In 1931 the banking system collapsed and governments teetered on brink of collapse.  The British Labour government, broken by the economic crisis was replaced by a Conservative coalition that imposed the steepest budget cuts in a generation.

Sound familiar?

Banks refused to lend and with millions out of work, it appeared capitalism had been utterly discredited.  Intellectuals turned to the utopianism of Soviet Communism and for decades after, this historical moment was forgotten until the summer of 2011, with the Eurozone in crisis, the United States crippled by debt, the stock market in intermittent free fall and families squeezed beyond relief that the memories of eighty years hence were resurrected.