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40681 Marshall Plan & K flight -- rank: 1000

When Bill Lear cited Noam Chomsky as saying Marshall Plan aid was offset by European capital flight to the U.S., Chomsky's ability to count was questioned. Bill said Eric Helleiner's States and the Reemergence of Global Finance (Cornell UP, 1994) was the source. Here's an excerpt from that interesting book, pp. 58-62, to be exact. Doug ---- MARSHALL PLAN AID AS OFFSETTING FINANCING Only with the extension of Marshall Plan aid beginning in 1948 was the contradiction between these short-term and l ...

Document Size:	16211
Author:	Doug Henwood
Date:	Sun Oct 4 19:04:35 PDT 1998

40682 Rafel Bernabe talks on People's Strike in P.R. -- rank: 1000

Mailing-List: ListBot mailing list contact PRlibre-help at listbot.com Delivered-To: mailing list PRlibre at listbot.com X-Sender: CesarAyala at postoffice.worldnet.att.net Date: Sun, 04 Oct 1998 20:23:32 -0400 To: PRlibre at listbot.com, PRFREE-L at cunyvm.cuny.edu From: "Cesar J. Ayala" <CesarAyala at worldnet.att.net> Subject: Rafel Bernabe talks on People's Strike in P.R. Mime-Version: 1.0 Puerto Rico Libre - http:www.delphi.com/puertoricolibre/ Rafael Bernabe of the Frente S ...

Document Size:	6280
Author:	Doug Henwood
Date:	Sun Oct 4 18:29:29 PDT 1998

40683 fwd: period of distress -- rank: 1000

Rakesh Bhandari wrote: >Marx writes: > >"If the crisis appears, therefore,because purchase and sale become >separated, it becomes a *money* crisis, as soon as money has developed >as a means of payment, and this second form of crisis [non fufillment >of a whole series of payments which depend on the sale of particular >commodities within a particular time] follows as matter of course, when >the first occurs [commodities are not saleable at their worth in a certain &g ...

Document Size:	7578
Author:	Doug Henwood
Date:	Sun Oct 4 17:31:38 PDT 1998

40684 Social and Economic Well-Being by Race and Hispanic Origin -- rank: 1000

Date: Fri, 2 Oct 1998 13:05:30 -0700 (PDT) Reply-To: aapornet at usc.edu Sender: owner-aapornet at usc.edu Precedence: bulk From: James Beniger <beniger at almaak.usc.edu> To: AAPORNET <aapornet at usc.edu> Subject: Social and Economic Well-Being by Race and Hispanic Origin MIME-Version: 1.0 Now available in "pdf" [Acrobat] format at http://www.access.gpo.gov/eop/ca/index.html Indicators of Social and Economic Well-Being by Race and Hispanic Origin Prepared by the Council o ...

Document Size:	11613
Author:	Doug Henwood
Date:	Sun Oct 4 16:16:15 PDT 1998

40685 central punters -- rank: 1000

Charles Brown wrote: >Am I wrong in thinking that Greenspan's >rationale is illogical ? How is it "risktaking" >if when you fail, you don't lose ? >Isn't the "risk" that you might lose ? When you're really rich and really dangerously leveraged, your failure may take out lots of innocent people with you. But people are losing big money on LTCM - less than they would have without the bailout for sure, but the banks, investors, and partners are all taking big hits. N ...

Document Size:	4969
Author:	Doug Henwood
Date:	Sun Oct 4 16:15:29 PDT 1998

40686 Lula goes Third Way -- rank: 1000

Richard Gibson wrote: >I think Lula is going to lose, by a lot, because on the one hand people in >Brazil are gulled by the 'respectable' promises of what we would call the >right, and because on the other hand they know from experience that Lula's >party is hardly the left, ie, committed to real social change, real >equality and democracy[....] While I was in Washigton this weekend, a friend showed me a Third Way declaration - in Spanish, so I couldn't understand it, I'm embarras ...

Document Size:	5259
Author:	Doug Henwood
Date:	Sun Oct 4 16:10:41 PDT 1998

40687 LATEST: On the 50 Years Conference -- rank: 1000

Well, comrades, I'm off to DC for the 50 Years Is Enough sadomonetarism conference. Here's the program, for anyone in the area. Til Sunday.... Doug ---- Date: Sun, 20 Sep 1998 14:50:22 -0700 (PDT) From: Njoki Njoroge Njehu <wb50years at igc.apc.org> Mime-Version: 1.0 Precedence: bulk Sender: owner-50-years at igc.apc.org Subject: LATEST: On the 50 Years Conference To: 50-years at igc.org X-MIME-Autoconverted: from quoted-printable to 8bit by igc3.igc.apc.org id OAA13067 X-Sender: wb50years ...

Document Size:	17183
Author:	Doug Henwood
Date:	Fri Oct 2 09:10:17 PDT 1998

40688 question -- rank: 1000

Those of you who think that global deflation will be a political opportunity for the left - why is Lula almost certain to lose badly in Brazil's election this Sunday? Doug

Document Size:	4405
Author:	Doug Henwood
Date:	Fri Oct 2 06:27:47 PDT 1998

40689 Chesnais: Excess Capital, Waste and Crash -- rank: 1000

Louis Proyect wrote: >That'll teach me to write email after drinking a bottle of wine. Next time >it will only be after a half-bottle. I'm impressed, Lou - if I'd posted after drinking a bottle of wine, it'd been a string of typos. Doug

Document Size:	4825
Author:	Doug Henwood
Date:	Fri Oct 2 06:24:48 PDT 1998

40690 central punters -- rank: 1000

[from the Lex column of today's Financial Times - a longer story on the Bank of Italy's investment in LTCM isn't on the FT's web site] "Risk-taking is a necessary condition for wealth creation." Thus spake Alan Greenspan, justifying the Federal Reserve's role in the rescue of Long-Term Capital Management, the beleaguered hedge fund. Fair enough. But who should be taking the risks and creating the wealth? Surely not central banks themselves. Yet that, unbelievably, is the latest skeleto ...

Document Size:	5705
Author:	Doug Henwood
Date:	Fri Oct 2 05:53:12 PDT 1998

40691 picking over LTCM -- rank: 1000

[from the entrails of the bond market...] Long Term Capital Turns to the Magnificent Six By Gregg Wirth Staff Reporter [TheStreet.com] FROM THE GREENWICH GENIUSES TO THE MAGNIFICENT SIX One week after instituting a rescue, Wall Street is parachuting in its own group of all stars to solve the Long Term Capital Management mess. And as Wall Street watches some of its biggest stars head up to Connecticut, whispers abound as to how the brokerage firms involved will solve a problem that still festers, ...

Document Size:	10840
Author:	Doug Henwood
Date:	Thu Oct 1 19:06:31 PDT 1998

40692 Chesnais: Excess Capital, Waste and Crash -- rank: 1000

Louis Proyect wrote: >Doug, these figures are utterly meaningless. If all you know about >Bangladesh is that it "grew" by 24%, then you should not even bother to >discuss third world countries. This is the kind of crap you'd get from >bourgeois ideologues. If I were you, I'd go spend a month in Bangladesh and >then come back and take a position that this 24% has any positive meaning >whatsoever. If you spent 1/10th of your time and energy analyzing concrete >class ...

Document Size:	5592
Author:	Doug Henwood
Date:	Thu Oct 1 17:22:18 PDT 1998

40693 Cyber-Sawicky, I -- rank: 1000

Mathew Forstater wrote: >The picture of Max accompanying the article bears a striking resemblance >to the pic of Louis P. at his homepage. Has anybody ever seen the two >of them together? I did. We had lunch in an Italian place near Hunter College. Doug

Document Size:	4608
Author:	Doug Henwood
Date:	Thu Oct 1 16:42:30 PDT 1998

40694 Hedge fund fallout & Other Merry Weather -- rank: 1000

Brad De Long wrote: >But Bear Sterns and Lehman refused to pony up their share, no? Yeah, they did, and that's interesting, esp since Bear Stearns was their clearing broker. Lehman though is always rumored to be circling the drain, so maybe their absence was understandable. Doug

Document Size:	4873
Author:	Doug Henwood
Date:	Thu Oct 1 16:40:48 PDT 1998

40695 Cyber-Sawicky, I -- rank: 1000

Max, you write: >The story goes that the trust fund is nothing but "IOUs." The IOUs in >question are government bonds. Professionals who believe them to be >quite real trade billions of these every day. The fact is that a >capitalist economy runs on IOUs: government bonds, corporate bonds, >stocks, paper money, mortgages and a million other things. We are well >past the era when market exchange consisted of nothing but barter. There's one oddity about this situation t ...

Document Size:	5328
Author:	Doug Henwood
Date:	Thu Oct 1 16:39:25 PDT 1998