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33421 The tendency of earnings estimates to fall -- rank: 1000

Seth Ackerman wrote: >But the corporate profit rate stabilized at a very high rate; it hasn't >plummeted. That does seem chonologically inconsistent with the New Economy >story, which holds that '96 was the early days of a tech-driven productivity >revolution. But it's not inconsistent with the 1996-2000 bull market in >stocks: As long as you have a sustained high rate of return on invested >capital, you should see a high rate of return on stocks, no? You don't need >a const ...

Document Size:	5624
Author:	Doug Henwood
Date:	Wed Apr 4 11:58:17 PDT 2001

33422 The tendency of earnings estimates to fall -- rank: 1000

James Heartfield wrote: >What's it worth and what's its value are two wholly different questions. > >The underlying point though is one that Geoff Pilling made against >Ronald Meek, if I remember rightly. The critique of the law of value is >not an attempt at replacing business's bookkeeping, but understanding >the laws of motion of this society. But that's not what we were trying to do. We were trying to figure out where the reported productivity boom went, if it wasn't showin ...

Document Size:	5098
Author:	Doug Henwood
Date:	Wed Apr 4 11:12:29 PDT 2001

33423 Consumer debt question -- rank: 1000

joanna bujes wrote: >The NYT reported today (4/4/2000) that: > > The problem is that consumers have little cushion to >soften the blow of layoffs. Many > of their personal balance sheets are creaking under a >load of debt, and savings are > close to nonexistent. During the 90's, Americans piled >on debt. Consumer debt as a > share of the gross domestic product now stands at >close to 71 percent, a new high, > ...

Document Size:	6239
Author:	Doug Henwood
Date:	Wed Apr 4 10:58:03 PDT 2001

33424 The tendency of earnings estimates to fall -- rank: 1000

michael at ecst.csuchico.edu wrote: >Isn't there a problem with that way of accounting since the compensation >and production come in different periods, perhaps years apart? Ok, just spoke with a guy at the Bureau of Economic Analysis, who said: 1) proceeds of exercised options are included in wage & salary income - they don't know how much, since it just blends in with the rest; 2) the timing problem probably isn't important, since the exercises are more or less continuous rather than ...

Document Size:	5690
Author:	Doug Henwood
Date:	Wed Apr 4 10:49:31 PDT 2001

33425 Jude on Slobo -- rank: 1000

[Quick, someone tell Jared Israel!] X-From_: memo-request at polyconomics.com Wed Apr 4 11:23:56 2001 Reply-To: <rbrosnan at polyconomics.com> From: rbrosnan at polyconomics.com (Polyconomics Inc.) To: <memo at polyconomics.com> Subject: Memo on the Margin:In Defense of Slobodan Milosevic Date: Wed, 4 Apr 2001 11:22:48 -0400 MIME-Version: 1.0 Importance: Normal Polyconomics' Daily Memo on the Margin (commentary taken from http://www.polyconomics.com) April 4, 2001 In Defense of Slo ...

Document Size:	17162
Author:	Doug Henwood
Date:	Wed Apr 4 10:20:45 PDT 2001

33426 The tendency of earnings estimates to fall -- rank: 1000

James Heartfield wrote: >In message <p05010404b6f0ceb8931e@[166.84.250.86]>, Doug Henwood ><dhenwood at panix.com> writes >>And if you can measure that, you deserve a Nobel. > >who needs to measure it, when the market does it for us? Very unstably. Would you use the stock market to value underlying real capital? Used equipment prices? The computer I'm typing on is a bit over 2 years old and works quite well, but its market value is close to 0. What's it worth? Doug

Document Size:	5181
Author:	Doug Henwood
Date:	Wed Apr 4 09:57:21 PDT 2001

33427 Global Warming -- rank: 1000

James Heartfield wrote: >Presumably the consensus is so strong that the Kyoto agreement has been >signed by everyone (not Rumania alone) and the US president has not >denounced it. The scientific consensus, which even portions of big U.S. capital are no longer denying. Bush and the Republican right get a lot of support from natural resource industries, who hate environmental regulations. Thus, ANWR, arsenic in the water, etc. You're right that Americans haven't changed their habits exce ...

Document Size:	5447
Author:	Doug Henwood
Date:	Wed Apr 4 09:43:14 PDT 2001

33428 WSWS vs WSJ -- rank: 1000

Michael Pugliese wrote: >Nader wrote a number of >pieces for The Freeman, in the late 50's and early 60's. There's one at <http://www.fee.org/iol/nader.html> (sprinkled with too many visible discretionary hyphens). It's a story of how the citizens of his hometown, Winsted, Conn., resisted a proposed public housing project. An excerpt: >Public housing pushes private housing toward deterioration and away >from expansion. The private sector must pay for public housing >which, ...

Document Size:	6187
Author:	Doug Henwood
Date:	Wed Apr 4 09:27:49 PDT 2001

33429 The tendency of earnings estimates to fall -- rank: 1000

Christian Gregory wrote: >Would this have anything to do with the fact that NIPA counts exercised >stock options as compensation? Do they? That doesn't sound right to me - there's no production entry to offset the income. Doug

Document Size:	4811
Author:	Doug Henwood
Date:	Wed Apr 4 09:13:45 PDT 2001

33430 Fwd: New Issue of _Cultural Logic_ -- rank: 1000

Date: Tue, 03 Apr 2001 21:46:46 -0500 From: David Siar <clogic at eserver.org> Dear Friends, A new double issue of _Cultural Logic_ is now on line at the following address: http://eserver.org/clogic Here's the lineup: Volume 3, Number 1 Theodore W. Allen "'Race' and 'Ethnicity': History and the 2000 Census" # Teresa L. Ebert "Left of Desire" # John Bellamy Foster "Global Ecology and the Common Good" # Richard E. Joines "Contretemps: Derrida's Ante and the ...

Document Size:	6147
Author:	Doug Henwood
Date:	Wed Apr 4 08:52:14 PDT 2001

33431 The tendency of earnings estimates to fall -- rank: 1000

Shane Mage wrote: >Doug asks: > > >>- an hour of labor is an hour of labor, but just what is a unit of >>capital? - but I really don't know what it means today. > >According to Marx, a unit of capital is identically a unit, say an hour, >of average socially necessary labor. And if you can measure that, you deserve a Nobel. Doug

Document Size:	5001
Author:	Doug Henwood
Date:	Wed Apr 4 06:15:38 PDT 2001

33432 undercover cops -- rank: 1000

[from Sam Smith's Progressive Review] JEREMY W. STEELE, MICHIGAN STATE NEWS: University police used an undercover officer to investigate a student activist group that was not charged with any crime, a top department official admitted in response to inquiries by The State News. Members of Students for Economic Justice, an officially registered campus group, said MSU police Officer Jamie Gonzales posed as elementary education junior Samantha Volare to take part in group meetings and activities for ...

Document Size:	5519
Author:	Doug Henwood
Date:	Tue Apr 3 15:54:06 PDT 2001

33433 Singer's latest -- rank: 1000

Marta Russell wrote: >Actually you've not got it Justin. >It is the unequal relationship. Singer does condone parents being >legally able to kill their disabled offspring. That is an unequal >relationship where the infant has no say. Here, the question of >consent is equally disturbing. Animals do not have an equal >relationship when it comes to human sexual aggression imposed upon >them. What are they going to do, take it to court? If anything, I am >for the underd ...

Document Size:	4992
Author:	Doug Henwood
Date:	Tue Apr 3 15:46:24 PDT 2001

33434 Singer's latest -- rank: 1000

Marta Russell wrote: >No joke. The press release was an announcement of the de-throning of >Singer from his position at that particular animal group organization. >Sheep, afterall, can't and don't give consent to humans to use them >for sexual pleasure -- >so are you saying you condone having sex with animals? That would >certainly give a new slant on farming. That's not really what Singer's article was about. He said that humans have throughout history run rampant with anima ...

Document Size:	5227
Author:	Doug Henwood
Date:	Tue Apr 3 14:40:47 PDT 2001

33435 Global Warming -- rank: 1000

James Heartfield wrote: >If the consensus is contested, then its not a consensus. Those outside the consensus shrink in number. Business Week writes in its April 9 issue: "Where there's smoke... Evidence that human activity causes global warming is ever more convincing, and many executives feel that curbs are inevitable... Multinationals like Dupont and Alcoa worry that other countries might move ahead on climate change without the U.S., thus hurting competitiveness...." Doug

Document Size:	4797
Author:	Doug Henwood
Date:	Tue Apr 3 14:15:38 PDT 2001