A friend who like me, has retired from work, sent me this quote:

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 State will have to take the road which will eventually lead to communism.
Karl Marx, Das Kapital, 1867

Is that what happened in the United States of America recently?

The banks are near bankruptcy now and the governments have to bail them out to save a financial crash. The nationalization has not happened yet and is not likely to happen although the governments are dishing out cash with strings attached and need of reporting.

Today, I saw the public admission of guilt of the President of the City Bank group regarding the lavish expenses which the company were supporting whilst on the other hand begging the Government for help. He has since cancelled the order of the executive jet and the executives are now travelling with commercial aircraft.

I do hope that the incentive package of Obama gets through and more importantly the world economy would be back in better state.