Wake Up Call - The Cult Of Capitalism - 03/07/14

The Wake Up Call show

Summary: Capitalism is now a cult, probably led in essence by Jamie Dimon, CEO of JP Morgan Chase. According to this theory, America is led by narcissists wired to self-destruct. There follows a detailed description of what that means. There are no happy endings in this interpretation. The concept represents a fascinating analysis of the human condition where the ultimate conclusion is the fulfillment of the death-wish of the cult of capitalism itself. All negative economic outcomes are described as “unexpected” by the media and the pundits. They say the economic chill is due to cold weather! Update on the U.S. economy. More on Detroit’s looming bankruptcy and that of several other U.S. cities. A discussion of Robert Gordon’s NBER paper, “Is U.S. Economic Growth Over?” P/E ratios explained