Search LBO-Talk Archives

31756 Reparations -- Yes? (was Re: Joy In Horowitzville) -- rank: 1000

Forstater, Mathew wrote: >Richard America's procedure > >1. Study the historical economic relations between Africans and Europeans >2. Estimate the "fair" rates of interest, exchange, returns, etc. >3. Establish the actual rates of interest, returns, etc. >4. Estimate the difference between the fair and actual rates--this will be the >amount needing repair. >5. Estimate the present value of the reparations using compound interest. >6. Devise means of repair. ...

Document Size:	5421
Author:	Doug Henwood
Date:	Thu Mar 22 11:17:20 PST 2001

31757 Current Downturn??? -- rank: 1000

Justin Schwartz wrote: >"Accumulate, accumulate! That is the law and the prophets!" It's >from Capital I, I can't lay hands on it either. --jks Nope, I know that one. It's more like "March! March!," and it's specifically about competition. Doug

Document Size:	4633
Author:	Doug Henwood
Date:	Thu Mar 22 09:57:42 PST 2001

31758 Reparations -- Yes? (was Re: Joy In Horowitzville) -- rank: 1000

Yoshie Furuhashi wrote: >It seems to me that reparations of any substance are impossible >under capitalism. So, short of revolution, reparations are meaningless? Then why bother to talk about reparations at all, if it's subsidiary to the anticapitalist struggle? >I imagine that you are against the campaign, since you are a fan of >Adolph Reed. If you are against it, what's your alternative? I support vigorous affirmative action (does that make me a liberal?), and a host of nonracial ...

Document Size:	5461
Author:	Doug Henwood
Date:	Thu Mar 22 09:15:18 PST 2001

31759 sovereigns -- rank: 1000

Date: Thu, 22 Mar 2001 18:05:22 +0900 From: JC Helary <helary at eskimo.com> > All hail to the sovereign nation-state. No doubt, the US had no business > interfering with the Axis powers in World War II, too. After all, the > concentration camps were "beyond the borders." indeed they had business with them _and_ interfering with them. and it does not seem to me that it was because of concentration camps that the us engaged the axis. same in kosovo. jc helary

Document Size:	4949
Author:	Doug Henwood
Date:	Thu Mar 22 09:18:17 PST 2001

31760 Reparations -- Yes? (was Re: Joy In Horowitzville) -- rank: 1000

Forstater, Mathew wrote: >I have argued in favor of reps. on teevee twice in the last two >weeks, once on a >"in-depth" story on the reparations movement in the KC area on local 10 oclock >news and once in a half hour 'debate' on the local Sunday morning news 'firing >line' show. I also organized two seminars on reps last semester with Gary >Dymski, one on campus and the other at the Bruce Watkins Cultural Heritage >Center in the KC community. I have also argued fo ...

Document Size:	6015
Author:	Doug Henwood
Date:	Thu Mar 22 09:18:53 PST 2001

31761 Current Downturn??? -- rank: 1000

Daniel Davies wrote: >Not sure that this works in the glorious new world of EBITDA. >Depreciation is a non-cash item -- that's part of how these companies >sustained their huge valuations in the first place. (as an aside, I'm >currently having a really nasty argument with a couple of telecoms >analysts over the stupidity of talking about earnings before interest, >tax and depreciation when the context is european telcos which are >loaded up with their interest bill and look ...

Document Size:	5397
Author:	Doug Henwood
Date:	Thu Mar 22 09:05:54 PST 2001

31762 Don't blame AG -- rank: 1000

Carl Remick wrote: >I've seen a surprising number of articles in the financial press -- >two -- saying that investors shouldn't blame Alan Greenspan for the >hopeless mess the market's in. > >There's no question that any number of economic forces are beyond >AG's control, but let's get real: No Fed chairman in my lifetime -- >not Arthur Burns, not even Paul Volcker -- has made the assiduous >effort to promote a cult of personality that AG has. To me, this >God-like i ...

Document Size:	5517
Author:	Doug Henwood
Date:	Thu Mar 22 09:07:26 PST 2001

31763 Current Downturn??? -- rank: 1000

Carl Remick wrote: >That's the way Wall St. has been spinning it, but is the need for >ever newer high-tech infrastructure *that* compelling? Somewhere - I wish I could remember where, but I can't - Marx describes competition as a kind of forced march for capitalists (the portion of the quote I remember is something like "March! March!"). That's where the compulsion comes from - invest or die. Doug

Document Size:	4772
Author:	Doug Henwood
Date:	Thu Mar 22 08:42:32 PST 2001

31764 Reparations -- Yes? (was Re: Joy In Horowitzville) -- rank: 1000

Yoshie Furuhashi wrote: >>Yoshie Furuhashi wrote: >> >>>Well, Nathan, I'm trying to steer LBO-talk away from its addiction >>>to Horowitz & toward reparations (among other topics). You are >>>not helping! :-) >> >>How do you imagine reparations being "operationalized," as the >>social scientists say? >> >>Doug > >Expropriate the expropriators. Ok, so you don't know. Doug

Document Size:	5245
Author:	Doug Henwood
Date:	Thu Mar 22 08:22:45 PST 2001

31765 Current Downturn??? -- rank: 1000

Carl Remick wrote: >"It amounts to a huge transfer of wealth from ordinary investors to >those on the inside, says William Braman, chief investment officer >at John Hancock Funds in Boston. 'The little old lady in Dubuque, >Iowa, with the mutual fund in tech stocks is financing the Internet >entrepreneur's mansion on the Pacific Palisades,' he said." Further proof of the maxim that you should never buy anything from someone richer than yourself. Doug

Document Size:	4879
Author:	Doug Henwood
Date:	Thu Mar 22 08:23:36 PST 2001

31766 Current Downturn??? -- rank: 1000

Daniel Davies wrote: >I must confess to the guilty secret that I have always had a blind spot >for this argument. I've never been able to understand how physical >objects can be a drag on the economy merely by existing. I can see how >they are worthless, but the "overhang" argument seems to suggest that >surplus capital effectively has negative output. Unless you make what >I would have thought were absurd assumptions about space constraints, >surely it could ju ...

Document Size:	5660
Author:	Doug Henwood
Date:	Thu Mar 22 07:57:35 PST 2001

31767 Current Downturn??? -- rank: 1000

Peter K. wrote: >Dennis: >>Look, buddy, I'm an academic who is unemployed, with *zero* job prospects >>despite tons of skills, a bunch of credit card bills staring me in the >>face and $86,000 of student loan debt accumulating at 8% rates of >>interest, so I really don't need a lecture about how I'm a member of some >>kind of privileged class. > >Just ignore the lectures, that's what I do even though I'm not an >academic. As for the credit card bills, tr ...

Document Size:	5866
Author:	Doug Henwood
Date:	Thu Mar 22 07:46:24 PST 2001

31768 Current Downturn??? -- rank: 1000

Brad Mayer wrote: >The real problem at the end of _this_ business cycle is not excess >consumer inventories or excess demand (inflation), but excess >investment in means of production, i.e., machinery of all sorts that >is ultimately used to produce consumer goods. It will be extremely >difficult to quickly boost effective demand - which has _not_ been >dropping in the US - to absorb this greatly increased (potential) >productive capacity. So all of this accumulated machin ...

Document Size:	6015
Author:	Doug Henwood
Date:	Thu Mar 22 07:31:08 PST 2001

31769 Underemployment? -- rank: 1000

Marta Russell wrote: >Can someone clue me in to where to look to see recent Underemployment >rates. In 1995 (according to EPI) they hovered at 10.1 percent but >what has happened since then? "Underemployment" is pretty hard to define, much less measure. A musician who works as a cabbie may be said to be underemployed, but maybe s/he's a bad musician who should stick to driving. The most common measure of "hidden" unemployment in the U.S. is the BLS's U-6 rate (" ...

Document Size:	5650
Author:	Doug Henwood
Date:	Thu Mar 22 07:18:31 PST 2001

31770 Reparations -- Yes? (was Re: Joy In Horowitzville) -- rank: 1000

Yoshie Furuhashi wrote: >Well, Nathan, I'm trying to steer LBO-talk away from its addiction >to Horowitz & toward reparations (among other topics). You are not >helping! :-) How do you imagine reparations being "operationalized," as the social scientists say? Doug

Document Size:	4971
Author:	Doug Henwood
Date:	Thu Mar 22 07:05:39 PST 2001