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40501 A.G. -- rank: 1000

C. Petersen wrote: >I just learned that Alan Greenspan is speaking tomorrow in Berkeley here >at the business school, but I have to be in a meeting with the Botany >professor I work for at that time. Are you going, Brad DeLong? I wonder if >he would take questions. EvA lot of people are looking at hi, particularly >now. I wonder if a well phrased unusual question could elicit a response >from him that would cause a secondary response when people read his >statements in the m ...

Document Size:	5334
Author:	Doug Henwood
Date:	Thu Sep 3 12:14:56 PDT 1998

40502 Kautsky parle -- rank: 1000

J Cullen wrote: >Older construction workers nowadays probably are Vietnam veterans, many of >whom believe the protesters were right and resent the way they were used. I >agree with pms and W. Kiernan that if you put your economic criticism in >terms that working people can understand they will agree with much, if not >all of it. If they don't understand what you're talking about, you have to >start asking yourself if that is your fault and not theirs. In my experience of talkin ...

Document Size:	5139
Author:	Doug Henwood
Date:	Thu Sep 3 10:52:03 PDT 1998

40503 Raising the Bar -- rank: 1000

Brad De Long wrote: >Malaysia's in great shape right now, isn't it? Better than Thailand or Indonesia, by any measure. I just taped an interview with Martin Khor of the Third World Network in Penang; he says that they've experience a modest rise in unemployment, compared with the other crisis countries, and a shallower recession too. He also said that the capital controls have been extremely popular, across the political and social spectrum. We'll see how they hold up, but you can bet lots of ...

Document Size:	4851
Author:	Doug Henwood
Date:	Thu Sep 3 09:34:31 PDT 1998

40504 Kemp=goldbug -- rank: 1000

Jon Fine wrote: >At any rate--Jack Kemp wrote Greenspan pressing him to return to the gold >standard: > >http://www.suntimes.com/output/novak/novak01.htm. > >Suspect there's many here better at judging the >significance/weirdness/hilarity >of this than I am. Can someone put this in context for the rest of us? Greenspan, of course, wrote that famous essay "Gold & economic freedom" for Any Rand's Objectivist newsletter in the 1960s. Gold, said AG, was an essen ...

Document Size:	5466
Author:	Doug Henwood
Date:	Thu Sep 3 09:31:32 PDT 1998

40505 Romer's sobriety -- rank: 1000

[From today's Salon <http://www.salonmagazine.com/21st/feature/1998/09/01feature.html>. Romer is - or was - Wired's favorite economist.] The long bust? WITH THE COLLAPSE OF STOCK PRICES, SILICON VALLEY HYPE ALSO TAKES A FALL. - - - - - - - - - BY ANDREW LEONARD | In the wake of Monday's continuing stock market meltdown -- the Dow down by 512 points, the worst day ever for tech-heavy NASDAQ -- shell-shocked investors might be excused for wondering what ever happened to the high-tech-boosted ...

Document Size:	10064
Author:	Doug Henwood
Date:	Thu Sep 3 09:00:47 PDT 1998

40506 proprietary indicator -- rank: 1000

I'm going to be on CNNfn tomorrow (Thursday) a bit after 9 AM. Coming on the heels of 5 radio interviews Monday and two today, I'd say the LBO proprietary stox indicator is flashing a strong buy signal. Maybe it's different this time. Doug

Document Size:	4576
Author:	Doug Henwood
Date:	Wed Sep 2 15:53:18 PDT 1998

40507 How to Calm Down -- rank: 1000

Carrol Cox wrote: >Someplace in Vol. 3 of *Capital* Marx declares that there is no law of >interest rates, for interest rates are driven by the kind of contingent events >that bourgeois economists claim drives prices, and that therefore they are >utterly unpredictable. Does something like this observation apply to the stock >market? You thinking of this? "Where, as here [with interest rate determination], it is competition as such that decides, the determination is inherentl ...

Document Size:	5080
Author:	Doug Henwood
Date:	Wed Sep 2 15:08:50 PDT 1998

40508 Repression of demand -- rank: 1000

James Devine wrote: >what is the right way to fight deflation? wouldn't US "repression of >demand" (slowdown or recession) have the potential of making world >deflation worse? Well, sure, if at the same time you're pushing capacity expansion and Joan Robinson's new mercantilism. If the U.S. is suppressing domestic demand, which means damping down imports, and encouraging exports, then who's going to buy all that Asian stuff to keep their current a/c's in the black? Writing &am ...

Document Size:	4996
Author:	Doug Henwood
Date:	Wed Sep 2 14:15:32 PDT 1998

40509 Marx, Malthus, Brenner -- rank: 1000

I'm going to have Brenner on my radio show tomorrow (WBAI, New York, 99.5 FM, sometime between 5 & 6 PM). Anyone besides Rakesh who wants to suggests questions/comments, I'm all ears. Doug

Document Size:	4554
Author:	Doug Henwood
Date:	Wed Sep 2 12:52:58 PDT 1998

40510 Repression of demand -- rank: 1000

Seth Ackerman wrote: >Doug Henwood wrote: > ><<Note his description of the Clinton economic >strategy - exports, investment, exports, and fiscal discipline, which >implies a so-far nonexistent repression of domestic demand>> > >Don't we have a budget surplus and historically high real interest >rates? Yes, but they sure ain't repressed domestic demand. Doug

Document Size:	4831
Author:	Doug Henwood
Date:	Wed Sep 2 12:41:54 PDT 1998

40511 How to Calm Down -- rank: 1000

Fellows, Jeffrey wrote: >To what extent can or does the stock market "rebound" simply because the >traders and investors want it to? I guess I'm asking to a more fundamental >question about Wall Street attitudes, but I do not have the time right now >to formulate it properly. Inferences are welcome. If enough traders think the market has fallen far enough, they'll buy and drive it higher, which will draw in more traders attracted by rising prices, etc. The real question is ...

Document Size:	4964
Author:	Doug Henwood
Date:	Wed Sep 2 12:08:14 PDT 1998

40512 Summers on the crisis -- rank: 1000

[An excerpt from the Larry Summers portion of a Moscow press conference; White House transcript. Note his description of the Clinton economic strategy - exports, investment, exports, and fiscal discipline, which implies a so-far nonexistent repression of domestic demand and the encouragement of capacity expansion, which is not the way to fight deflation.] Q Larry, Strobe Talbott spoke about the power struggle going on in Russia right now. I wonder if you come away from these discussions validat ...

Document Size:	8420
Author:	Doug Henwood
Date:	Wed Sep 2 12:05:48 PDT 1998

40513 The rules of the international economy -- rank: 1000

Chris Burford wrote: >What are the rules of the international economy? That's easy: do it the way the U.S. says. Works for international law, too. Doug

Document Size:	4731
Author:	Doug Henwood
Date:	Wed Sep 2 09:20:34 PDT 1998

40514 grinding through -- rank: 1000

Mark Jones wrote: >Isn't it and hasn't it been obvious, Doug, since the Monroe Doctrine >was first announced, that socialists are not allowed to get elected >in Brazil? They can get elected, but once in office, they must cease being socialists (or even social democrats) and become the agents of austerity. If not, the boys in Langley go to work. Doug

Document Size:	4849
Author:	Doug Henwood
Date:	Wed Sep 2 09:17:09 PDT 1998

40515 Just kidding, Doug -- rank: 1000

Seth Ackerman wrote: >What does that mean? How can derivatives be any more destabilizing in a >crisis than, say, currency swings? They're just one more way to make money in good times, lose it in bad; there's nothing uniquely destructive about derivatives. The numbers are so big they spook people though. Doug

Document Size:	4658
Author:	Doug Henwood
Date:	Tue Sep 1 15:26:10 PDT 1998