Living in the Capitalists’ Casino
First published here https://www.counterpunch.org/2018/02/09/living-in-the-capitalists-casino/
Photo by Emilio Labrador | CC BY 2.0
The stock market, for all of its seeming mystery, is more of an emotional barometer for the rich than a reflection of material production. Abstracted from the lived experiences of those it exploits, it reflects the jubilation and depression of the wealthy. On Monday, the Dow dropped 1,600 points the largest point decline in one day in history. The historic stock market dip was primarily caused by the news that wages had improved slightly for workers. You would think that rising wages would be something they investors would celebrate, justifying their long-time trickle-down promises. Instead, they panicked clutching their pocketbooks. Why? Because the capitalists know the logic of the game: suppress wages, make profit. Despite the claims of wonks and centrists in the capitalist’s casino, when we win, they lose.