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"Everyone is entitled to his own opinion, but not to his own fact." - Sen. Daniel Patrick “Pat” Moynihan [D-NY] (1927-2003)

Monday, August 17, 2009

Faux Marx

Just a brief note: There's a quote circulating the internet that is supposedly by Karl Marx and was supposedly in his magnum opus "Das Kapital", predicting the current comsumer credit crisis;

"Owners of capital will stimulate the 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 nationalised, and the State will have to take the road which will eventually lead to communism."

There is no record of him ever writing that, and it doesn't appear in "Das Kapital". We've got enough problems without fake quotes from Marx and Nostradamus gumming up the works.

Thanks to the good people at for this one.

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