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38371 why capital . . . -- rank: 1000

Seth Ackerman wrote: >So theoretically the exchange rate adjusts to keep the two in balance? >I'm just trying to understand why the conventional wisdom says the >current account gap will one day push down the dollar. They're supposed to be in balance by definition. Current account surplus means money that must be invested abroad = capital account outflow; current account deficit means money must be borrowed abroad = capital account inflow. As for the c/a gap pushing down the dollar: if ...

Document Size:	5093
Author:	Doug Henwood
Date:	Tue Mar 9 09:52:32 PST 1999

38372 Steinem on CIA -- rank: 1000

Liza Featherstone wrote: >the choice GS quote from Echols book is : "the CIA's biggest mistake was not >supplanting itself with private funds fast enough" !!!! A comment the Redstocking juxtapose with the, um, curiously forthcoming private finance for the first issue of Ms. - $1 million from Warner Communications, subsidies from New York magazine (then run by Clay Felker, who worked with Gloria on a CIA-sponsored magazine in the 1950s, more money from some mysterious data procesi ...

Document Size:	5139
Author:	Doug Henwood
Date:	Tue Mar 9 09:32:00 PST 1999

38373 why capital . . . -- rank: 1000

Seth Ackerman wrote: >When the capital inflow is bigger than the current account gap, won't >that just push up the value of the dollar (or whatever currency)? And >isn't the reverse true, too? My point is that the two numbers don't >always have to match -- but when they don't it always shows up in the >exchange rate. Right? In theory they're supposed to match. In practice they don't. The difference (just as with the production and income sides of the national income & product ...

Document Size:	5000
Author:	Doug Henwood
Date:	Tue Mar 9 09:07:17 PST 1999

38374 Steinem on CIA -- rank: 1000

William S. Lear wrote: >Could you please expand on the "list of liberal foundations that >laundered CIA money"? Anything current or otherwise of general >interest? I scanned a useful chart that names names and posted it to the LBO website at <http://www.panix.com/~dhenwood/CIA_wheel.html>. It originally appeared in the WashPost in 1967, and was reprinted in William Blum's Kiling Hope. To avoid copyright problems, there's no public link to the page, so you can only get t ...

Document Size:	5280
Author:	Doug Henwood
Date:	Tue Mar 9 08:59:30 PST 1999

38375 [Fwd: Nadler Bill and Other News] -- rank: 1000

Tom Lehman wrote: >Any comments on your congressperson's bill. Investing SS money in the stock market should make him popular with his lower Manhattan constituents. I love it that Nadler's introducing a "save Social Security bill" even though he concedes the system doesn't need to be saved. I wish he'd go back to promoting the rebuilding of the Port of New York. Doug

Document Size:	4836
Author:	Doug Henwood
Date:	Tue Mar 9 07:45:26 PST 1999

38376 why capital . . . -- rank: 1000

Dennis R Redmond wrote: >Compare this with how US banks have utterly trashed Latin America. Need we >say more? If you assume real development was the point of U.S. policy, then that trashing was a failure. If you assume exploitation and subordination were the point, then the banks have done their part. Doug

Document Size:	4665
Author:	Doug Henwood
Date:	Tue Mar 9 07:23:43 PST 1999

38377 ICP -- rank: 1000

The excellent Matthew Lee, founder of Inner City Press/Community on the Move, a Bronx-based community reinvestment/anti-redlining/Fed-torturing group, has just opened a website <http://www.innercitypress.org>. If you're interested in that sort of thing, pay them a visit! Doug

Document Size:	4585
Author:	Doug Henwood
Date:	Tue Mar 9 07:11:46 PST 1999

38378 Steinem on CIA -- rank: 1000

Henry C.K. Liu wrote: >Steinem was reported in Fortune in 1975? that she accepted CIA money to attend >left/radical conferences worldwide in the 60s to monitor for the CIA. Oh yes - I just got a copy the infamous suppressed chapter on Steinem from the Redstockings' Feminist Revolution, which Random House forced them to drop from the published version of the book under threat of lawsuit from Steinem. Steinem threatens to sue anyone who writes about this. I was just wondering how widely know ...

Document Size:	4835
Author:	Doug Henwood
Date:	Tue Mar 9 06:09:01 PST 1999

38379 Steinem on CIA -- rank: 1000

Is this quote common knowledge, or has it reached the status of arcana? "In my experience, the Agency was completely different from its image. It was liberal, non-violent, and honorable. I found the C.I.A. my best journalistic training ground because the one instruction one receives from them is to be accurate, whereas publications tell you to find an angle [audience laughed]." - Gloria Steinem, Washington Post, December 3, 1967 (quoted by The Redstockings) Doug

Document Size:	4869
Author:	Doug Henwood
Date:	Mon Mar 8 21:03:43 PST 1999

38380 why capital . . . -- rank: 1000

christian a. gregory wrote: >thanks for that clear explanation. i was (and still am) a little confused at >the debt figures that you and doug cite. doug had said that the u.s. was >living $400 billion beyond its annual means. you cite $1.7 trillion as the >total debt on international investment position. these numbers seem out of >whack--doug's would imply a much bigger total debt figure than you cite, in >my mind. and, i'm not clear which of these figures (if either one) >c ...

Document Size:	6321
Author:	Doug Henwood
Date:	Mon Mar 8 20:39:09 PST 1999

38381 1999-03-08 Vice President Calls for Measures to EaseTrafficCongestion -- rank: 1000

Max Sawicky wrote: >Gore has latched onto or blundered into a long-running literature on >de-urbanization and metropolitan government. The story is not crap. In a >nutshell, it is that governmental fragmentation under federalism fosters >inefficiency and inequality. Suburbanites exploit the amenities and >economic advantages of center city locations and take their money home with >them. Suburbs get overbuilt, resulting in more pollution, time lost in >commuting, and loss ...

Document Size:	6444
Author:	Doug Henwood
Date:	Mon Mar 8 18:22:12 PST 1999

38382 teaching social inequality / income -- rank: 1000

Max Sawicky wrote: > >> In the issue of The Nation that goes to press this Wednesday, there will >> the first installment of a page of quarterly social indicators I'll be >> doing. The topic of the premiere is inequality and poverty, and there's a >> chart of income classes (low, middle, and high income, defined relative to >> the national median) based on the work of Smeeding & Co. at the Luxembourg >> Income Study. For those of you who don't read The ...

Document Size:	5903
Author:	Doug Henwood
Date:	Mon Mar 8 18:17:53 PST 1999

38383 culture economy -- rank: 1000

Jim heartfield wrote: >Behind the boom are historically low rates of investment in business. In >absolute terms, investment appears to have recovered since the low-point >of 1992. But compared to GDP, private investment has only risen from 10 >per cent to 12 per cent in 1997, way below the 15 per cent of 1989. >According to the Bank of England 'the rate of return on capital is at >near record levels and hence we would expect business investment growth >to be higher' but inst ...

Document Size:	5454
Author:	Doug Henwood
Date:	Mon Mar 8 16:09:07 PST 1999

38384 Why Capital is Overvalued -- rank: 1000

David Bailey wrote: >Stock dividends, >as you know, are a piddling portion of overall stock returns and are being >replaced by stock bybacks. Not true at all. Over the long term dividends have been a very important part of stock returns. It's only in the last decade or so, as this giddy bull market has pushed valuations to record levels, that dividends have become "piddling." Here are the long-term averages (based on the S&P 500 and Cowles Commission indexes, with pre-1871 ...

Document Size:	5275
Author:	Doug Henwood
Date:	Mon Mar 8 15:49:35 PST 1999

38385 1999-03-08 Vice President Calls for Measures to Ease TrafficCongestion -- rank: 1000

Max Sawicky wrote: >The rest is tiddly-winks, but actually the regional >transit topic is quite promising. It addresses the >depopulation of cities, the difficulty of urban >residents getting to jobs in the suburbs, the >merits of construction jobs, air pollution, and >the diminution of open space. It all depends on >money being devoted to it, but the Gore initiative >is a logical initial step. You're more generous than I am. I see Gore sensing a problem, or something t ...

Document Size:	5831
Author:	Doug Henwood
Date:	Mon Mar 8 13:57:23 PST 1999