Update: Many readers and other people who have seen this quote making the rounds on Wall Street believe it is a hoax.
Hedge fund manager Whitney Tilson sends out wonderful e-mails about every day. I just got a new one today, and he included this incredible quote from Karl Marx:
"Owners of capital will stimulate the 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 nationalised, and the State will have to take the road which will eventually lead to communism. (Das Kapital, 1867)
What does it all mean? I'm not really sure. But Karl Marx's theory that capitalism would inevitably lead to communism has mostly been dismissed -- proven wrong by the survival of capitalism and the fall of communism.
And while it is true that there was a fat lady singing at Obama's inauguration (she was great by the way -- just sayin'), Karl Marx may still have the last word yet.
Of course some Republicans will point to Obama as a step toward socialism. So does that mean Marx was right?