Will Bitcoins Be the Subprime Mortgages of the Next Capitalist Crash?
These are being exchanged by capitalists and claimed as a source of wealth despite the fact that they are unregulated, with no clear rules or consumer safeguards. Wall Street is drunk with them. One speculator happily announced that by the end of next year the price will be 40,000. Capitalists see no problems with this bubble potential as usual.
About The Author
Bruce
Bruce Lerro has taught for 25 years as an adjunct college professor of psychology at Golden Gate University, Dominican University and Diablo Valley College. He has applied a Vygotskian socio-historical perspective to his four books: From Earth-Spirits to Sky-Gods: the Socio-ecological Origins of Monotheism, Individualism and Hyper-Abstract Reasoning Power in Eden: The Emergence of Gender Hierarchies in the Ancient World Co-Authored with Christopher Chase-Dunn Social Change: Globalization from the Stone Age to the Present and Lucifer's Labyrinth: Individualism, Hyper-Abstract Thinking and the Process of Becoming Civilized He is also a representational artist specializing in pen-and-ink drawings. Bruce is a libertarian communist and lives in Olympia WA.