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36946 U.S. foreign debt -- rank: 1000

Rakesh Bhandari wrote: >As far as I can tell, the US has the opposite problem of Southeast >Asia--too much confidence Yes, exactly. But SE Asia went from being the future of the world to being a stinkpot of corruption and inefficiency in the space of 6 months. That kind of rapid reversal - which can have massive financial and economic fallout - is what Greenspan has been worrying about (I'd give a cite, but the Fed's website seems to be asleep). Doug

Document Size:	4807
Author:	Doug Henwood
Date:	Sun Sep 26 11:07:58 PDT 1999

36947 Fwd: Jerry Brown, asshole -- rank: 1000

[From Jeff St Clair. Time to dust off "California über alles" once again. How many lovely things can be justified by appeals to "home rule."] OAKLAND [FORFEITURE] LAW THREATENED "[Oakland] Mayor Jerry Brown asks [California governor] Davis to veto bill that would make conviction [of a crime] a prerequisite [for forfeiture]" by Matthew Yi San Francisco Examiner, Sept 23, 1999 OAKLAND - Mayor Jerry Brown has fired off two letters to Gov. Davis urging him to veto a bil ...

Document Size:	9668
Author:	Doug Henwood
Date:	Sun Sep 26 09:42:10 PDT 1999

36948 Americanization of global finance (cont.) -- rank: 1000

christian a. gregory wrote: >I don't disagree that the bases of U.S. economic power have been undermined. >And in the long run, es ist kaputt, for sure. In the meantime, and until >some other national or transnational set of actors steps in, we can expect >it to continue to beat its chest--which will deafen some, irritate others, >and fuck up some others' trade relations. Etc. I wish I could remember the exact quote, but sometime back around 1986 or 1987, Wall Street economist Alb ...

Document Size:	5312
Author:	Doug Henwood
Date:	Sun Sep 26 09:33:38 PDT 1999

36949 Cramer -- rank: 1000

<http://www.gsm.ucdavis.edu/~odean/papers/Online/Online.html> Online Investors: Do the Slow Die First? Brad Barber and Terrance Odean Abstract We examine changes in the stock trading behavior and investment performance of 1,607 investors who switch from phone based to online trading during the period 1991 to 1996. We compare their trading and performance to that of 1,607 investors with similar size accounts who do not trade online. We find that those who switch to online trading experience ...

Document Size:	5671
Author:	Doug Henwood
Date:	Sun Sep 26 09:28:52 PDT 1999

36950 U.S. foreign debt -- rank: 1000

Rakesh Bhandari wrote: >Doug honestly considers the bleak possibilities: > > >U.S. military and political power puts a limit on how much we could > >be foreclosed upon, but still the country could suffer a capital > >outflow and be powerless to do anything about it except raise > >interest rates. > >The US status as reserve center also puts some kind of limit. True; there aren't many other places where money managers or central bankers can park large quantitie ...

Document Size:	5890
Author:	Doug Henwood
Date:	Sun Sep 26 09:15:00 PDT 1999

36951 U.S. foreign debt -- rank: 1000

David Welch wrote: >Silly question, but doesn't an increase in US foreign debt imply that US >capital is flowing abroad, purchasing real assets and hence foreign >countries accumulate dollar claims? Some of it is, but the foreign direct investment and equity accounts are more or less in balance. The major action is that more U.S.-based entities are borrowing abroad than foreign entities are borrowing here. > So we can infer that profit rates are >too low in the US but large enough ...

Document Size:	5733
Author:	Doug Henwood
Date:	Sun Sep 26 09:06:14 PDT 1999

36952 fiscal follies -- rank: 1000

The lead paragraphs of today's lead story in the New York Times: "As the new fiscal year approaches, a financial and political crisis confronts Republicans in Congress. They may have to break their repeated promises and raid Social Security to run the Government, their own staff and independent analysts say. For months, the Republican leaders have sworn that they would pass their spending bills on time, hew to self-imposed spending limits and leave Social Security alone. But with only five ...

Document Size:	5787
Author:	Doug Henwood
Date:	Sun Sep 26 07:42:17 PDT 1999

36953 rule by Yalies -- rank: 1000

[from Sam Smith's Progressive Review] PALLS OF IVY Sometime in the 1980s, Yale University took control from Harvard of the mismanagement of American affairs. Gone were the Cambridge professors using a war in Vietnam as proto-Viagra and in their place came the unenhanced sexual adventures of Clarence Thomas. In fact, during that incident almost everyone involved -- appointer, appointee, major confirmers, victim, victim's defenders and victim's counter-accusers -- went to Yale. The big difference ...

Document Size:	5970
Author:	Doug Henwood
Date:	Sat Sep 25 14:59:38 PDT 1999

36954 Americanization of global finance (cont.) -- rank: 1000

Rakesh Bhandari wrote: >In our previous debate, I don't think you were able to show that Japan >enjoys any kind of overall monopoly over leading edge technological inputs >(James Galbraith's innovative capital goods) into the production process. >When it comes to software, microprocessors, semiconductor guidance systems >for weapons, biotechnology, CAD for airplanes, etc, the US at the very >least doesn't enjoy an overall deficit in technology (indeed the US is the >only cou ...

Document Size:	5700
Author:	Doug Henwood
Date:	Sat Sep 25 13:54:49 PDT 1999

36955 Littleton: it's Adorno's fault <fwd> -- rank: 1000

<kenneth.mackendrick at utoronto.ca> wrote: >Is this the article in question? > >http://www.larouchepub.com/lar_littleton_2627.html No. This is from the Executive Intelligence Review, a fat high-domed journal, and is by Lyn himself. What I was quoting from was a popularization from their paper, The New Federalist. Doug

Document Size:	4993
Author:	Doug Henwood
Date:	Sat Sep 25 13:48:39 PDT 1999

36956 Operation Foreigner -- rank: 1000

[from Johnson's Russia List] RFE/RL NEWSLINE Vol. 3, No. 187, Part I, 24 September 1999 MOSCOW'S 'OPERATION FOREIGNER' DEEMED ILLEGAL... Anatolii Kovler, who was recently appointed human rights judge at the European Court of Human Rights, told "Vremya MN" on 23 September that the court may soon be deluged with complaints from Russian citizens about the city of Moscow's policies vis-a-vis non-Muscovites. He noted that "Russia's Constitutional Court has twice passed verdicts declari ...

Document Size:	6527
Author:	Doug Henwood
Date:	Sat Sep 25 13:20:38 PDT 1999

36957 Cramer: madness as K formation -- rank: 1000

I nabbed a copy of TheStreet.com color commentator James Cramer's speech listing the Top 10 Internet Myths. It's 36k, and I'll send it to anyone who asks. The former net hyperbull says in it that the boom wasn't capital formation, it was madness. His point #7: >[Myth:] It costs nothing to get a site up and running. Forget it. >These days, almost no one but the richest companies can afford to >staff a new large-scale Web site business. We lose a programmer, we >can hardly afford to re ...

Document Size:	5766
Author:	Doug Henwood
Date:	Sat Sep 25 12:51:39 PDT 1999

36958 Littleton: it's Adorno's fault <fwd> -- rank: 1000

<kenneth.mackendrick at utoronto.ca> wrote: >Anyone who would describe Schoenberg as a postmodern >composer is an idiot ...and/or a LaRouchian, since you're joining us late. This is Lyndon LaRouche's theory of history, as recounted in his New Federalist newspaper. Doug

Document Size:	4935
Author:	Doug Henwood
Date:	Sat Sep 25 12:33:31 PDT 1999

36959 nation-states and financial Kism -- rank: 1000

Patrick Bond wrote: >And here >arises an issue I would assume Doug has previously disabused >anyone of raising on His list: I hope the suggestion of godliness was just a typographical accident. But in general, there are no proscribed topics here. > the struggle between financial circuits >of K and "productive" circuits. You're right that I'm skeptical of any analysis that draws too sharp a distinction, and especially one that spies a serious conflict, between the two. Un ...

Document Size:	8043
Author:	Doug Henwood
Date:	Sat Sep 25 11:54:59 PDT 1999

36960 U.S. foreign debt -- rank: 1000

Rakesh Bhandari wrote: > > Query: Is it not at least possible that such a colossus can for an > > indefinite > > period of time simply refuse to be "cut off"? The IMF grip on various > > third-world nations is not all that separate from the military weakness > > of those nations. Most discussions of the Russian economic distress > > sooner or later get around to mentioning all those atomic weapons > > under Russian control. > > > > ...

Document Size:	5547
Author:	Doug Henwood
Date:	Sat Sep 25 11:45:47 PDT 1999