Trump as president again?
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THE RISE OF FICTITIOUS CAPITAL
By ‘real capital’ Marx meant money capital invested in physical means of production and the workforce itself with a view to producing commodities to be sold on a market in the expectation of realising a profit – or financial return – from selling them. However, what has become increasingly salient in recent decades is another form of capital that Marx dubbed ‘fictitious capital’.
Fictitious capital does not involve the transformation of money into commodities. It is not about investing in means of production to produce commodities for sale on a market. In this respect it is distinguishable from interest-bearing capital in the form of bank loans to businesses that produce commodities. The latter do not constitute fictitious capital as such.
HAS CAPITALISM BECOME FINANCIALISED?The financial crisis of 2007-2008 triggered by the large-scale collapse of mortgage-backed securities in the United States was an important catalyst in promoting the view that capitalism has become ‘financialised’. Financial speculation has come to be seen not only as something increasingly autonomous with respect to the real economy (based on the production of commodities), but also as increasingly dominant in determining what happens in the latter.
The crisis was looked upon as being essentially a product of the short-sighted and irresponsible shenanigans of the financial community, aided by the New Financial Architecture (NFA) instituted in previous years and the radical financial deregulation this all entailed. In short, it was said to be the outcome of a steadily intensifying process of ‘financialisation’.
https://www.wsws.org/en/articles/2026/08/21/hlgz-a21.html
The USA government is paying the Visa with the Mastercard, they are borrowing money in order to pay the interest of the debt, and they had to double the buy back and still the interest yield has increased
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U.S. Treasury Secretary Scott Bessent’s announcement that the Treasury is going to double its buyback of long-dated US bonds from $2 billion to $4 billion has fallen flat. After an initial fall in yields, they have started to rise again and are back near the multi-year highs recorded earlier this week.
Treasury Secretary Scott Bessent speaks to members of the media outside the White House in Washington, Thursday, Aug
This was despite Bessent saying in an interview with the business channel CNBC that the buyback could be more than the $4 billion that he initially announced. The general sentiment in the market is that the growing bond market turbulence is not going to be calmed by such interventions because more fundamental issues—above all, the rise of US debt to $40 trillion—are involved.There are growing concerns that the US is in a “doom loop” because of the rise in interest payments to more than $1 trillion a year, creating a situation where the government must borrow money just to pay the interest bill on past debt.
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Some economic analysts have indicted that probably, the USA government and the congress would be forced to increase taxation on the profits of the capitalist class as FDR did during the Great Depression . That proves what the socialist party has been saying about the myth on taxation that the biggest burden of taxation falls on the profits of the capitalist class and that state is financed with surplus value.
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