I thought the good thing about capitalism was that competition drove innovation and productivity
If I understand correctly, he’s saying that:
- China is wastefully printing money—which mainstream economists insist will unquestionably cause inflation—is causing deflation.
- Deflation is a bad thing. Lower prices for goods & services are bad.
On top of that, a massive wave of bankruptcies could cause a second bad-debt crisis on top of the one that’s already happening from real estate.
This is a centrally planned, intentionally created, managed collapse that leaves the capitalist class to take the financial hit instead of the working class. It’s the complete opposite of what happened to us in 2008. Previously. Previously.
There are also microeconomic dangers from overcompetition.
So he thinks that actually-enforced anti-trust laws with real teeth are also bad.
This is what is really meant by “autocracy” by our governments, think tanks, and corporate media: autocracy against the capitalist class. A dictatorship of the proletariat.
