America's Communist Landlords

There are so many amazing turns recently in the continuing saga of capitalist accumulation. Now, among many devilish twists of irony that Marx could never have foreseen, the chinese government is providing most of the capital backing to the largest securitized mortgage structure in the world. (http://www.ft.com/cms/s/0/c6eb81e0-c083-11dc-b0b7-0000779fd2ac.html) In other words, the resources of American and Western European ultra-capitalists are now accumulating to a purportedly communist government. Having lost close to half-a-trillion dollars in the subprime crisis, having had this money kicked out of them by a swiftly-defaulting proletariat, the creditor class of self-described capitalists is being forced to sell on large stakes of its future profits to self-described communists. The "Communists" are acquiring these distressed assets at a massively discounted rate. But this is exactly the process of capitalist accumulation that Marx describes so exhaustively in the first volume of Das Kapital - only it is going in exactly the opposite direction. So, were we to believe even for a second (and, in any case, we do not) that the communists in this narrative were communists, and that the capitalists were capitalists, we would truly have a revolution on our hands - one in which the entire stream of modern political economy suddenly began to flow backwards. (To end on a nice Derridean note:) Of course, this is just more testimony to the no longer and not yet conditioning of communism - and perhaps even of capitalism? Is it possible that chinese communism is the spectre of a capitalism hitherto unseen? A capitalism to come?