October 27, 2008
Alex at Splintering Bone Ashes asks a good question in a recent post entitled Xenonomics and Capital Unbound:
A question remains open as to the current state of play with the unfolding trans-global financial deleveraging and subsequent mass-governmental bank buyout: Is this a genuinely unprecedented situation or simply the latest facet of business-as-usual, a crisis in the system, or merely a crisis of the system? The pessimism of the intellect suggests the latter, another arresting of the genuinely alien development of the capital-virus, in favour of the maintaining of a stable form. The optimism of the will though suggests that there might be the basis in the opprobrium that finance capital is now attracting (low level intensity but extremely broad in terms of numbers) for some kind of new proletarian leftist movement.
My view is that it is crisis of the system that could develop into a crisis in the system and that nation state are acting to retrench, to stabilise, to maintain the present system, in a new form, by whatever means necessary and available, including nationalizing parts of the financial system
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