Search LBO-Talk Archives

40411 Promoting mass purchasing power -- rank: 1000

if we're going to continue to discuss this topic, I wish people would be precise about what we/they mean by "Keynes" and "Keynesian" - the writings of JMK himself, the various schools (neo-, post-, New) that have borrowed his name, or the popular version of "Keynes" which boils down to deficit spending. And if we're talking about the writings of JMK himself, which Keynes - the Treatise? the General Theory? the author of the essay on national self-sufficiency? Doug

Document Size:	4941
Author:	Doug Henwood
Date:	Sat Sep 19 09:30:14 PDT 1998

40412 3rd ways? -- rank: 1000

Seth Ackerman wrote: >What time? 7. Jesus, I better stop now. > >> -----Original Message----- >> From: Doug Henwood [SMTP:dhenwood at panix.com] >> Sent: Friday, September 18, 1998 5:04 PM >> To: lbo-talk at lists.panix.com >> Subject: RE: 3rd ways? >> >> Seth Ackerman wrote: >> >> >Doug, when is this? >> >> Ha. Ooops. This Monday night the 21st, and the place is lower >> Manhattan. >> >> >> > & ...

Document Size:	6058
Author:	Doug Henwood
Date:	Fri Sep 18 14:29:11 PDT 1998

40413 3rd ways? -- rank: 1000

Seth Ackerman wrote: >Doug, when is this? Ha. Ooops. This Monday night the 21st, and the place is lower Manhattan. > > > >> >IS THERE A THIRD WAY? >> >> >> >>Anglo US >> >>Doug Henwood -author of Wall St >> >>Chris Riddiough DSA >> >> >> >>Ian Williams - the Nation and Tribune >> >>Chris Hitchens The Nation & Vanity Fair >> >> >> >>Invited Jan Kavan >> > ...

Document Size:	5145
Author:	Doug Henwood
Date:	Fri Sep 18 14:04:26 PDT 1998

40414 Mandel and Keyens -- rank: 1000

Rakesh Bhandari wrote: >1. How much has this deficit reduction come from, say, selling off the >assets from the S&L disaster or privatizing state enterprises or >conceding govt lands--sources of revenue which cannot be drawn from again >and again? In the U.S., a trivial amount. In Europe, probably a bit more but not all that much. >Or how much has come from the taxing of fictitious capital that >a few more bubble pricks will send up as hot air? I think strong capital gains ...

Document Size:	8163
Author:	Doug Henwood
Date:	Fri Sep 18 12:50:06 PDT 1998

40415 Japan's economy in free fall -- rank: 1000

Charles Brown wrote: >Would you say it would have been possible >to appropriate the bourgeoisie or >make socialism at anytime in history ? >1800? 1848? 1900? 1950 ? Is >the unimaginability of socialism new >with the situation in 1998 ? Has socialism >ever been imaginable ? Can you imagine >it being imaginable in the future ? > >If it was imaginable at another time >how do you imagine it then ? Then >we can extrapolate to 1998. There were mass workers movemen ...

Document Size:	5144
Author:	Doug Henwood
Date:	Fri Sep 18 12:20:55 PDT 1998

40416 Would like Doug's thoughts on this one... -- rank: 1000

Jordan Hayes wrote: >A hedge is simply a swap of risk; by definition they "really do" >what they say they do. I'm not sure what you're getting at here ... As the article on hedging in the New Palgrave Dictionary of Finance shows in more detail than i have time to provide here, while it may be possible to hedge price, it's not yet possible to hedge volume, so that incomes may be no less volatile in a hedged world than an unhedged one. >A hedge is fairly unique >in the world ...

Document Size:	6041
Author:	Doug Henwood
Date:	Fri Sep 18 12:17:51 PDT 1998

40417 3rd ways? -- rank: 1000

>From: "Ian Williams" <uswarreport at igc.org> >To: "doug henwood" <dhenwood at panix.com> >Date: Fri, 18 Sep 1998 14:07:51 -0400 >MIME-Version: 1.0 >X-Priority: 3 >X-MSMail-Priority: Normal >X-MimeOLE: Produced By Microsoft MimeOLE V4.72.2106.4 > >IS THERE A THIRD WAY? >> >>Anglo US >>Doug Henwood -author of Wall St >>Chris Riddiough DSA >> >>Ian Williams - the Nation and Tribune >>Chris Hitch ...

Document Size:	5262
Author:	Doug Henwood
Date:	Fri Sep 18 11:34:30 PDT 1998

40418 Would like Doug's thoughts on this one... -- rank: 1000

James Baird wrote: >Robert X. Cringely's plan for saving the world through Internet >Derivatives... > >http://www.pbs.org/cringely/pulpit/pulpit19980903.html Demented. There's no proof that hedges really do hedge individual risk, and they certainly have done nothing to reduce systemic instability. The kinds of risks he's talking about are, unlike exchange-traded futures & options, impossible to standardize, and involve extreme customization, which means complicated pricing that w ...

Document Size:	5299
Author:	Doug Henwood
Date:	Fri Sep 18 11:28:52 PDT 1998

40419 kagarlitsky testimony -- rank: 1000

Date: Fri, 18 Sep 1998 13:35:26 -0400 (EDT) Reply-To: rob at essential.org Originator: stop-imf at essential.org Sender: stop-imf at essential.org Precedence: bulk From: Robert Weissman <rob at essential.org> To: Multiple recipients of list STOP-IMF <stop-imf at essential.org> Subject: kagarlitsky testimony MIME-Version: 1.0 X-Comment: To unsubscribe from this list, send the one line message "unsubscribe stop-imf" to "listproc at essential.org". Leave the "S ...

Document Size:	30626
Author:	Doug Henwood
Date:	Fri Sep 18 11:08:59 PDT 1998

40420 Japan's economy in free fall -- rank: 1000

Charles Brown wrote: >How might these crises be resolved >in some way other than leaving >capitalist relations of production >in place ? What is the outline of >a macroeconomic shift to >expropriating the expropriators ? >Assume for a moment that the workers of the world >just suddenly wake up and are ready >to rumble. How would you advise >them to do it ? As I've tried to make clear many times, I have no fucking idea. Some people seem to think that by evoking the w ...

Document Size:	5217
Author:	Doug Henwood
Date:	Fri Sep 18 10:49:40 PDT 1998

40421 Japan's economy in free fall -- rank: 1000

Mark Jones wrote: >Doesn't it strike you as just a trifle apcoalyptic, unprcedented anyway, >for a paper like the FT to recommend nationalising the Japanese banking >system? Why? The U.S. effectively nationalized Continental Illinois in the mid-80s and Citibank in the late 80s, and took on $200 billion in bad S&L debts. Mexico nationalized its banks in the early 80s, Pinochet nationalized lots of bum Chilean debt, and lots of Latin American private sector debt became public sector d ...

Document Size:	5415
Author:	Doug Henwood
Date:	Fri Sep 18 08:22:46 PDT 1998

40422 Japan's economy in freefall -- rank: 1000

Mark Jones wrote: >Over on LBO-talk, Lou Proyect has accused Doug Henwood of not noticing >that there is a capitalist crisis, and I have bet Max Sawicky $1000 to a >kilo of dried roubles that the Dow will crash to 3000 within a year. >Earlier this week, Doug Henwood apparently argued on his radio show that >it is 'scaremongering' to suggest that Japan's bad debts equal a trillion >dollars. I did not argue that; I suggested the possibility that the $1 trillion price tag is one o ...

Document Size:	5596
Author:	Doug Henwood
Date:	Fri Sep 18 08:13:15 PDT 1998

40423 Fed hawks -- rank: 1000

James Baird wrote: >The Fed is always portrayed as being completely controlled by the Great >and Merciful Greenspan. How much control does he actually have over >policy? Is the FOMC a rubber stamp, or do they actually have an >independent voice? The Fed is dominated by the chair, so much so that former vice chair Alan Blinder said he couldn't even get info out of the staff economists. But on major policy decisions, like the Supreme Court, they like to move with unanimity or near un ...

Document Size:	5371
Author:	Doug Henwood
Date:	Thu Sep 17 12:30:51 PDT 1998

40424 Fed hawks -- rank: 1000

Fed policy is set by the Federal Open Market Committee, which consists of the chair, AG; the vice chair, Alice Rivlin; the four other governors; the president of the New York Fed; and four of the regional bank presidents, who serve in rotation. Five of the FOMC members are on record as hawkish - governors Roger Ferguson (who says the Asian crisis is good for us), Edward Gramlich, and Laurence Meyer, and the hardass regional bank presidents Jerry Jordan (FRB Cleveland) and William Poole (FRB St L ...

Document Size:	4806
Author:	Doug Henwood
Date:	Thu Sep 17 11:52:56 PDT 1998

40425 Mandel and Keynes -- rank: 1000

Michael Cohen wrote: >> The fiscal tightening across the OECD has been pretty stunning. According >> to OECD estimates, the cyclically adjusted deficit in the EU was -5.3% of >> GDP; it's likely to be around -1.5% this year, a shift of 3.8 percentage >> point. The U.S. went from -4.0% to 0.0%, a shift of 4 percentage points.... > >Doug, do you any ideas as to why you think this is. It doesn't seem likethe >most intelligent move in this situation. Given the econ ...

Document Size:	5350
Author:	Doug Henwood
Date:	Thu Sep 17 11:07:55 PDT 1998