• I don't want to overvalue Donald Trump as some historical rupture, and to admit that I do think Trump is an indication of a fairly profound change. But the change started a while ago, and it has taken a while to appear. Global capital, particularly western capital, has been in decline since the late 60s and early 70s. The softness appeared in the 60s, the profit rate fell off the table in 1972 - 73, and there have been very uneven recoveries. This has been an ongoing weakening of the productive economy of accumulation at a global scale, of capital's capacity to expand.