Search LBO-Talk Archives

38941 Effective Tax Rates- taxes on the wealthy spurring surplus -- rank: 1000

Michael Perelman wrote: >Regarding what Nathan wrote below, ordinary people have seen there standard of >living fall, and cutting taxes is one of the few possible ways in which >they can >hope for improvement. You are underestimating the ability of the leaders to >confuse the issue. U.S. hourly, weekly, and household incomes are up pretty strongly over the last couple of years, so that may be one reason that polls show little support for the Repub's tax cut agenda. Things might c ...

Document Size:	5804
Author:	Doug Henwood
Date:	Sun Jan 31 09:52:44 PST 1999

38942 Marc Cooper responds -- rank: 1000

I forwarded Marta Russell's comments on Marc Cooper to the man himself, who responds: X-Sender: mcooper at pop2.igc.org Date: Sat, 30 Jan 1999 13:03:07 -0800 To: Doug Henwood <dhenwood at panix.com> From: Marc Cooper <mcooper at igc.org> Subject: Cooper responds Mime-Version: 1.0 Doug-- Please circulate this to your email list. MARC Doug: Thanks for forwarding me Marta Russell's comments on my radio show last Thursday with Arianna Huffington and Patrick Caddell. First a couple of co ...

Document Size:	16745
Author:	Doug Henwood
Date:	Sat Jan 30 13:56:22 PST 1999

38943 Stocks and GDP -- rank: 1000

MScoleman at aol.com wrote: >Speaking of bailouts (a' la angela) I have a question(s). What was the name >of the hedge fund which was recently bailed out? Long-Term Capital Management. >I know Greenspan helped >arrange the bailout -- but who did the bailing, was it the IMF or some combo >of banks? No doubt Greenspan gave the nod, but the process was masterminded by the New York Fed. They squeezed a consortium of investment banks to pool enough money to rescue the thing. At the ti ...

Document Size:	6243
Author:	Doug Henwood
Date:	Sat Jan 30 11:24:10 PST 1999

38944 tobacco institute query -- rank: 1000

Greg Nowell wrote: >Burford raised a question about the Tobacco Institute. >Its closure was a specifically negotiated component of >the 44-state settlement. It should be observed with >the4 degree of industry concentration in tobacco the >political effect is minimal. -gn It means LBO loses an institutional subscription. Former Tobacco Institute PR guy Fred Panzer subscribed long ago, and chatted me up once on the phone when LBO was even more obscure than it is now. He also sub ...

Document Size:	4970
Author:	Doug Henwood
Date:	Sat Jan 30 11:10:04 PST 1999

38945 Dear Doug & Max -- rank: 1000

Peter Kilander wrote: >Max Sawicky, the incurable optimist and chicken little-basher, might note >that 4th quarter growth in the U.S. was 5.6% and inflation's reminiscent of >the 50s. I remember after the panic of 98, LTCM's near miss, and after the >stock market bounced back Doug said something like the crisis is over, >refered to '87 and jumped on the >cooler-heads-will-prevail/chicken-little-poo-pooing band wagon. > >I said to keep an eye on Brazil. So did I: "Bra ...

Document Size:	7155
Author:	Doug Henwood
Date:	Sat Jan 30 11:07:10 PST 1999

38946 Discussion of stock values -- rank: 1000

James Baird wrote: >About hte mystery of how profits can grow faster than the economy, has >there been a long-term increase in the "corporateization" of the >economy? I thinking of this: local store (which is counted in GDP, but >is not traded on exchanges) is forced out of business by Wal-Mart (which >is). Coul the discrepancy simply be due to more of the total GDP being >controlled by publically traded companies? Are there any numbers on >this? Yes, this expla ...

Document Size:	5408
Author:	Doug Henwood
Date:	Sat Jan 30 10:45:06 PST 1999

38947 LTCM regulatory study -- rank: 1000

Peter Kilander wrote: >This was on page B2 of the New York Times today. In a sane society, wouldn't >this make it to the front page? I like the third paragraph. > >________________ > >January 29, 1999 > >Report Finds Banks Failed to Oversee Big Hedge Fund > >By TIMOTHY L. O'BRIEN > >NEW YORK -- A handful of the world's largest commercial and investment banks >failed to adequately oversee lending and trading activities with hedge-fund >giant Long-Term Cap ...

Document Size:	5638
Author:	Doug Henwood
Date:	Sat Jan 30 10:17:45 PST 1999

38948 Brazil -- rank: 1000

[From TheStreet.com. "Brazil got itself in this situation." The markets have such a rich sense of history.] LATIN LOOT Brazil Races to Defuse the Debt Time Bomb By Peter Eavis Senior Writer 1/29/99 4:43 PM ET With the Brazilian economic crisis deepening, pressure is building on the government of President Fernando Henrique Cardoso to default on its domestic debt as a last-ditch attempt to reduce its fiscal deficit. But some Latin America experts are warning Cardoso's team that any for ...

Document Size:	11616
Author:	Doug Henwood
Date:	Sat Jan 30 09:59:53 PST 1999

38949 Davos -- rank: 1000

MScoleman at aol.com wrote: >I was reading the time report on davo today -- it is a lot of fun to watch the >leaders of the economic world fighting nastier than gangs on the play ground. >it restores my faith in social change. Today's FT reports on Davos... Financial Times - January 30 1999 WORLD ECONOMIC FORUM: AL GORE KEEPS HIS HEAD AMID EURO-PHORIA By Lionel Barber in Davos, Switzerland The Americans have stopped gloating. In Davos, two years ago, the US sat astride the world. The mo ...

Document Size:	7603
Author:	Doug Henwood
Date:	Sat Jan 30 09:55:36 PST 1999

38950 theory site -- rank: 1000

Friends and foes of "theory" might enjoy a visit to <http://www.theory.org.uk>. Doug

Document Size:	4424
Author:	Doug Henwood
Date:	Sat Jan 30 09:43:55 PST 1999

38951 Stocks and GDP -- rank: 1000

Sam Pawlett wrote: >How is it possible and what is the point of assigning property rights to air >and water when both are public goods? Surely the WB doesn't believe in >property >rights that strongly. Yes they do. The answer to environmental degradation is to privatize public goods, with the World Bank as investment banker and bond salesperson. Privatize water utilities and charge for water use; make the right to pollute the air into a tradeable financial instrument. I did an articl ...

Document Size:	5237
Author:	Doug Henwood
Date:	Sat Jan 30 09:37:10 PST 1999

38952 Stocks and GDP -- rank: 1000

Charles Brown wrote: >On historical precedent for bailouts, how about the Marshall Plan ? I'd >add the S &L Crisis and payments to the military industrial complex for >obsolete forts all across the territory of the U.S. to Doug's list below. I was talking about failing entities that are "rescued," typically under stringent conditionality, that in the old days would have been allowed to go under (Chysler, about 1,000 S&Ls) or to default outright (New York City in 1975, ...

Document Size:	5250
Author:	Doug Henwood
Date:	Fri Jan 29 09:42:10 PST 1999

38953 [PEN-L:2680] Duke University's literature department -- rank: 1000

Rakesh Bhandari wrote: >Wasn't the dissolution of classical economics by marginalism based on the >critique of fixed identities? Instead of classes fixed by relations of >production, we find that workers can become entrepreneurs by the >investment in human capital and entrepreneurs are utility >maximizing consumers in the determination of their technological mixes. >Instead of classes, we find a multiplicity of identities which each agent, >regardless of her class, assume ...

Document Size:	5416
Author:	Doug Henwood
Date:	Fri Jan 29 09:33:57 PST 1999

38954 Wally defends Reason -- rank: 1000

[From today's Chronicle of Higher Education daily email. Olson, a corporate libertarian, is an old comrade of mine from my freshman-year indiscretion, the Party of the Right. He went on to advise Dan Quayle on tort reform.] MAGAZINES & JOURNALS A glance at the January issue of "Reason": The end of the Enlightenment Postmodernism has long attacked the Enlightenment's emphasis on reason to examine accepted doctrines and traditions, but now the movement has found an unlikely new ally ...

Document Size:	6358
Author:	Doug Henwood
Date:	Fri Jan 29 09:25:23 PST 1999

38955 [PEN-L:2680] Duke University's literature department -- rank: 1000

William S. Lear wrote: >Jesus Doug, I'm stunned, this is really insulting. How am I anywhere >near an "old-style leftist"? How am I concerned about the "sorry >state of Marxism"? I really could care less about the "relative >success, in intellectual circles, of postmodernism". Do you really >think I have a problem with "instability and uncertainty"? I certainly don't mean to insult you, Bill, not in the least, and I'm sorry if it looked ...

Document Size:	6972
Author:	Doug Henwood
Date:	Fri Jan 29 09:13:05 PST 1999