"Borrowing sustained the mass consumption model for a few decades. Non-rich households borrowed to buy cars, buy food, pay medical bills, buy ever-more-expensive houses, and so on. Conveniently, rich households had plenty of spare cash to lend them. That model broke apart in 2008 and has not — and cannot — be revived."
Since the fall of the Berlin Wall, "events have followed Marx's closer predictions almost uncannily: globalisation, privatisation, deregulation, the undermining of democracy, the triumph of a capitalist discourse (railway 'customers' rather than 'passengers'), the decline of socialist ideology, and a succession of capitalist crises, each worse than the last – but none of them as yet showing any sign of being the last. Come back Karl; all is forgiven. You were right. (Up to 'the revolution', that is.)"