Ben Delisious reports from Waterloo, Ontario, in Canada: Well how about that! Only two years ago BlackBerry Ltd, the Canadian maker of mobile smartphones and other communications equipment, was worth $82 billion but today its gone down so much that it might be worth nothing soon. How does that happen in the so-called modern capitalist economy? Because if allegedly we have a free market that has some sort of rules operating within it, then it means that such things simply can’t happen. But if we assume that the free market is actually nor free at all and has no rules in it, with speculators and all sorts of dodgy middlemen running it, then yes, we can very easily understand how s..t like that occurs.
Here’s what I think. I think that the likes of Goldman Sachs and JP Morgan and other major players on the markets and beyond simply inflate the prices of companies while getting paid loads for doing it. Just like it happened with Facebook that was valued at $100 billion when in reality it’s probably not worth even one tenth of that price. Because, let’s face it, it’s just a website really, and a website can’t be worth that much. It produces nothing but stupid comments made by people who have no life.
The problem is that we live in w world of a virtual economy where anything goes. You can stick any price on any rubbish and if it is supported by some big name from the world of finance people rush to pay extortionate prices for that rubbish. This is not capitalism. This is not even socialism. This is idiocy wrapped in packaging paper with the words ‘capitalism’ written on it. But when you unwrap it, it’s just a big con.
But back to BlackBerry. The thing about their phones is that they were not very good. They were supposed to be tools for businessmen but you could barely send a text, as the buttons were too small and only a child could pull that one off. Not to mention that the idiots who are obsessed by mobiles wanted huge touch screens and any sign of any buttons turned them away. All thanks to the late Steve Jobs, who had thrown mobile communications backwards by about 20 years with his touch screen technology. Just you watch mobile phones for people, who use them for communications and not for playing games, ditching this touch screen rubbish.
Yes, modern capitalism has nothing to do with proper economy. It’s run by the markets that create virtual wealth which benefits very few people. It won’t last long, obviously. Just like BlackBerry.