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About the current state of our economy?
For those of us who are not so economically savy, what does the current state of our economy spell out for the common man. Also, how and why would the $700 billion dollar bailout help the economy?
1 Answer
- CRFILv 61 decade agoFavorite Answer
It reflects the agony of Capitalism,in this phase of its decline Capitalism can only go from a bubble into another bubble.You should understand what "Fictitious Capital" is.
Fictitious capital could be defined as a capitalisation on property ownership. Such ownership is real and legally enforced, as are the profits made from it. But the capital involved is fictitious; it is "money that is thrown into circulation as capital without any material basis in commodities or productive activity".[2] Fictitious capital could also be defined as "tradeable paper claims to wealth", although tangible assets may themselves under certain conditions also be vastly inflated in price.
The bailout will fail in its objective, the black hole of bankruptcy amounts for much more than 700 billions , its around 10,000 billions.
