Marx Brothers: what a good name for a publicly owned investment bank
From Reader Rufus

Owners of capital will stimulate working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks which will have to be nationalized and the State will have to take the road which will eventually lead to communism - Karl Marx, Das Kapital, 1867
Go though this might sound good, Mr. Marx (May 5, 1818 – March 14, 1883) was possibly unlikely to use a word like technolgy in say 1867. So a couple of minutes of Google reveals that the full quotation comes from here & is…
In the wake of the cataclysmic failure of free market capitalism and the nationalization of the country’s banks, Americans over the age of seven will be forced to complete a reeducation program designed to re-instill lessons learned in preschool that have been deemed essential to functioning in a communist society by the federal government… citing Karl Marx, who presaged: "The owners of capital will stimulate the need of the working class to take expensive, collateral loans to buy their condos, houses and technological products; and, at the end, these unpaid debts will result in the nationalization of the banks upon their bankruptcy, and so the state will be on the pathway to communism"
Still a good quotation though !
Comments
prescient? or straight from his playbook?
scary.
Posted by: pdwalker | January 27, 2009 7:24 AM
Marx Brothers ? I was expecting Groucho, chico and Harpo.
Posted by: Bomber Harris | January 27, 2009 5:44 PM
The above Marx quotes are a hoax. He never said any such thing.
Posted by: Karl Marx | January 28, 2009 2:03 PM
I enjoy your BLOG very much. I am curious to learn why the word "technology" alerted you to error while the word "condo" did not. On the other hand, Steve Martin did note that King Tut "had a condo made of stoner."
Posted by: David Gurney | February 13, 2009 6:15 PM