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32506 Atlas Flinched -- rank: 1000

Patrick Bond wrote: >May I rebut? I think the best way to argue this is that >overaccumulated capital has been building up in various ways over >the past 30 years, and that instead of profits being reinvested in >productive plant/equipment the way we saw during the 1950s-60s, the >80s-90s had dramatic downturns in investment/GDP, with profit streams >(and surpluses more generally) instead being channeled into >financial asset inflation (which, via the private-sector credit & ...

Document Size:	7402
Author:	Doug Henwood
Date:	Fri Jan 5 11:12:52 PST 2001

32507 Weisbrot: the Long Haul -- rank: 1000

Nathan Newman wrote: >Deficits only increase demand in the US economy if the >money distributed - whether in spending or taxes - is spent on goods made in >the US. Given global imports, the impact of deficit spending is unlikely to >have the multiplier effects on growth promised by Keynes, at least in the US >context. U.S. imports are equal to about 15% of GDP, so about 85% of the stimulus would stay within these glorious borders. Doug

Document Size:	4880
Author:	Doug Henwood
Date:	Fri Jan 5 11:01:04 PST 2001

32508 Weisbrot: the Long Haul -- rank: 1000

C. G. Estabrook wrote: >Doug, those were Weisbrot's words, not mine. Ooops, sorry, meant to change the attribution, but in my wounded narcissism, I forgot. Doug

Document Size:	4546
Author:	Doug Henwood
Date:	Fri Jan 5 10:52:26 PST 2001

32509 Fwd: eToys dies slow, lingering, satisfying corporate death -- rank: 1000

Daniel Davies wrote: >--- Chuck0 <chuck at tao.ca> wrote >> >> Here's a modest proposal: Given that whenever Alan >> Greenspan opens his >> mouth the stock market does something crazy, why >> don't they just take >> him, stuff him, and set up one of those >> European-style bell tower clocks >> at the NYSE. On the hour, the bell would toll and >> out would come little >> Alan, encased in Lucite. The loudspeaker system & ...

Document Size:	6527
Author:	Doug Henwood
Date:	Fri Jan 5 10:51:05 PST 2001

32510 Ashcroft & Race -- rank: 1000

Wojtek Sokolowski wrote: >Certainly. In my travels and foreign contacts, I find US-ers to be one of >the least bigoted people I meet, much less likely to express racist or >sexist views than, for example, Eastern Europeans, Germans, British or >French. But racism isn't just about subjective attitudes or their expression - it's about social structures, and in the ideological realm, appalling things that nonetheless seem "natural." So why are black household incomes 63% of w ...

Document Size:	5794
Author:	Doug Henwood
Date:	Fri Jan 5 10:27:20 PST 2001

32511 Weisbrot: the Long Haul -- rank: 1000

alex lantsberg wrote: >-----Original Message----- >Both Congress and the executive branch should >abandon the >extremist and groundless economic theories, which >we could tolerate while >the economy was booming, that advocate paying off >the national debt over >the next 12 years. A commitment to pay down the >debt is a commitment to >reduce demand and slow the economy at a time when >we really don't know >where the bottom of the current economic slowdown >i ...

Document Size:	5399
Author:	Doug Henwood
Date:	Fri Jan 5 10:14:11 PST 2001

32512 Weisbrot: the Long Haul -- rank: 1000

C. G. Estabrook wrote: >Dean Baker of the Center for Economic and Policy Research was the first >economist to work through the arithmetic of this "bubble" market Ahem. December 1998: <http://www.panix.com/~dhenwood/AntisocInsec.html> >Stock answers > >But let's take the 1.4% growth projection and apply it to the stock >market, that cornucopia of wealth that's supposed to replace the >public pension system. Privatizers typically assume an average real >stoc ...

Document Size:	6954
Author:	Doug Henwood
Date:	Fri Jan 5 09:57:18 PST 2001

32513 Fwd: eToys dies slow, lingering, satisfying corporate death -- rank: 1000

Chuck0 wrote: >Work sucks. Alienated work sucks. Doug

Document Size:	4782
Author:	Doug Henwood
Date:	Fri Jan 5 08:45:01 PST 2001

32514 Ashcroft & Race -- rank: 1000

Wojtek Sokolowski wrote: >My problem with the culturalist Left is that it lost its sight from that >prize, and then redefined the goals of the struggle in terms of populist >symbols and cultural identities. It is like someone fighting a war, in the >middle of it decided to drop his/her weapon and play a game of chess >instead. It is essentially the same as soliving one's life problems by >"finding Jesus," or for that matter, by getting high. This "culturalist L ...

Document Size:	5824
Author:	Doug Henwood
Date:	Fri Jan 5 08:42:34 PST 2001

32515 Fwd: eToys dies slow, lingering, satisfying corporate death -- rank: 1000

Chuck0 wrote: >U.K. website shut down, 60% of staff laid off! This is a major victory >for anti-corporate activists. > >Kill all the dot-coms. Death to e-commerce. Um, I'm not sure I get this. Yeah there was a lot of stupid shit about the dot.coms, and there's a lot that vulgar and destructive about capitalist commerce, but is electronic commerce itself intrinsically evil? I could imagine it playing a role in my democratically planned socialist utopia. And since when do we cheer mass ...

Document Size:	5281
Author:	Doug Henwood
Date:	Fri Jan 5 07:44:17 PST 2001

32516 Atlas Flinched -- rank: 1000

Chuck Grimes wrote: >What's interesting to watch here in California is the mire of utility >de-regulation as it has quickly devolved into a nightmare of 19c >boom-bust classic capitalism. The financial markets are scared this morning that the California utility problem is going to result in bond and/or loan defaults. "America's best-loved economist," Larry Kudlow, just said on CNBC that "this is a Fed issue" (the anchor thought at first he said it was a "fetish& ...

Document Size:	4867
Author:	Doug Henwood
Date:	Fri Jan 5 07:50:02 PST 2001

32517 Return of Street Fighting Man -- rank: 1000

Michael Pugliese wrote: >(Will read more Robert Lederman, David Icke, >Lou Proyect and Lyndon LaRouche as my New Years Resolution..) Back when I was in grad school, J Hillis Miller paid a visit to the UVa English department. At one point he asked, "With Shakespeare around, why read Beaumont & Fletcher?" If you want to read a nut, why not an interesting one, like Christopher Smart or Andrea Dworkin? Doug

Document Size:	4870
Author:	Doug Henwood
Date:	Thu Jan 4 16:07:38 PST 2001

32518 Ashcroft & Race -- rank: 1000

Wojtek Sokolowski wrote: >Today, poverty and underclass have become cultural identities that are the >opium for the downwardly mobile and the countercultural commodity for those >who can afford it, especially bleeding-heart intellectuals. And this >debased identity politics passes for progressive discourse nowadays. What ever are you talking about? You let fly some reckless caricature of (white) people in the South, as if they were terminally violent cretins best left to do each ot ...

Document Size:	5186
Author:	Doug Henwood
Date:	Thu Jan 4 15:45:59 PST 2001

32519 Fwd: Public Hearing: New York Stock Exchange Project -- rank: 1000

Date: Thu, 04 Jan 2001 16:48:53 -0500 From: "Alice Meaker" <AMeaker at uniteunion.org> Next Monday there will be a public hearing on the construction of a new trading floor for the New York Stock Exchange. As you may know, this project is being subsidized by New Yorkers at a cost currently estimated to be $1.1 billion. Good Jobs New York has criticized this planned public subsidy as extravagant and unnecessary, and has raised concerns about the closed process by which the deal wa ...

Document Size:	6506
Author:	Doug Henwood
Date:	Thu Jan 4 15:36:47 PST 2001

32520 Atlas Flinched -- rank: 1000

Carl Remick wrote: >Isn't the larger point that big money has boxed itself in and has no >good alternatives at this point? U.S. capitalists have lived in a >dream world from Reagan through Clinton and now face the curse of >answered prayers. They wanted to recreate the laisser-faire >paradise of a century ago and were remarkably successful, virtually >guaranteeing a resurgence of the manic-depressive, boom-bust >intensity of classic capitalism, guaranteeing agony and waste ...

Document Size:	5130
Author:	Doug Henwood
Date:	Thu Jan 4 15:36:03 PST 2001