Lecture 12 The End of Cap 2013

11 the rapture bishops predic ons 2013 corporate

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Unformatted text preview: te accumulated capital (especially in US and Europe). •  9. The global financial industry is a gigan-c corrupt Ponzi scheme which will soon collapse. •  10. Increasing concentra-on of wealth in the hands of very few people will lead to growing inequality and will cause the collapse of the middle classes and hence of demand for goods. •  11. The rapture. Bishop’s predic-ons (2013) •  Corporate Capitalism is star-ng a long (200 or 300 year) decline. The American empire has started a long slow decline. •  The economy will slip into and out of recession for the next 2 or 3 decades. GDP growth will stagnate. •  The distribu-on of wealth in North America will con-nue to become more unequal. •  The standard of living of the middle class will stagnate and very slowly decline. Many families in NA will fall out of middle class into poverty. 2 11/30...
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