by Charles Hugh Smith
Of Two Minds
If you collapse these extractive, debt-dependent crony-capitalist cartels, you collapse the entire status quo.
Thousands of commentaries have been issued about Brexit in the past week. I’ve written four myself. Most discuss Brexit as the result of immigration issues, class war, political theater, a reaction against the European Union’s bureaucratic power, sovereignty, etc. Other essays focus on the potential upsides or downsides of Brexit.
What few if any commentators present is the idea that Brexit is a symptom of the Crisis of Capitalism.
The current global version of Capitalism is characterized by these overlapping dynamics: