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41251 Fed's worry on optimism -- rank: 1000

The Federal Reserve's letter to banks warning about loose credit standards - described in all the press accounts as "unusual" - is available in an obscure corner of their web site at <http://www.bog.frb.fed.us:80/boarddocs/SRLETTERS/1998/SR9818.HTM>. It makes interesting reading in these giddy times. A few excerpts: <quote> Since there is no indication that these competitive pressures to ease terms are subsiding, supervisory experience strongly suggests that this is a criti ...

Document Size:	9273
Author:	Doug Henwood
Date:	Sun Jul 5 08:34:51 PDT 1998

41252 happy bourgies -- rank: 1000

Mark Jones wrote: >> > Decadence, maybe, but desperation? What is desperate about the >>bourgeoisie? >> > Everything is going their way. They've crushed their rival of 75 years, >> > socialism is near-dead as a political force, profits are high in the U.S. >> > (and getting better in Europe), and money is ruling just about all aspects >> > of social life. That doesn't sound desperate to me. > > >Doug, I don't know what is the point of t ...

Document Size:	6212
Author:	Doug Henwood
Date:	Fri Jul 3 15:51:30 PDT 1998

41253 DNA testing -- rank: 1000

Speaking of race.... >The Daily Telegraph Friday 3 July 1998 > > >DNA test to prove migrant is a Jew > > By Ohad Gozani in Tel Aviv > >Israel ordered a Ukrainian to undergo genetic testing to check whether he >is Jewish, the Interior Ministry confirmed yesterday. > >It sent Vladimir Gordukal, 43, for a DNA test to verify if he was the son >of an elderly Jew who had testified to immigration officials he was Mr >Gordukal's fa ...

Document Size:	6297
Author:	Doug Henwood
Date:	Fri Jul 3 09:53:44 PDT 1998

41254 GM strike -- rank: 1000

MScoleman at aol.com wrote: >As to Doug's criticisms of the UAW, I think he is right, the union has >displayed an amazin' lack of leadership -- even more so in their relatively >unknown industries, like electrical plants which employ primarily women and >minorities or in the intellectual trades of which Doug is a member. However, >I think this latest round of militant actions may be due to pressure from >membership. Oh, I think you're probably right here. I asked Kim Moody the ...

Document Size:	6116
Author:	Doug Henwood
Date:	Fri Jul 3 09:42:46 PDT 1998

41255 Tibet and the attraction of Buddhism -- rank: 1000

Charles Brown wrote: >>>> Brad De Long writes [...] >My bet is that medieval theocracy was preferable, especially since the PRC >functionaries tended not to speak Tibetan... > >On the other hand, I can't help but feel that China's future has at least a >good chance of being *better* than medieval theocracy... >___________ > >Sounds like the nadir of landlord existence. The nadir of human existence >would be more coincident with the thousands of years of pea ...

Document Size:	5812
Author:	Doug Henwood
Date:	Fri Jul 3 08:54:44 PDT 1998

41256 Buba moralizes -- rank: 1000

The German sadomonetarists aren't happy. Doug ---- FINANCIAL TIMES Munchau, Wolfgang, Bundesbank attacks IMF over Asia., 07-03-1998. ------------------------------------------------------------------------ Senior German government and Bundesbank officials yesterday criticised the International Monetary Fund, saying it had contributed to the financial crisis in Asia through generous financial assistance. Hans Tietmeyer, president of the Bundesbank, and Jurgen Stark, state secretary in the finance ...

Document Size:	7739
Author:	Doug Henwood
Date:	Fri Jul 3 08:06:11 PDT 1998

41257 Stiglitz' loose talk again -- rank: 1000

Brad De Long wrote: >I think all of this "Mexico showed that the U.S. Treasury would bail >everybody out, so everyone piled into East Asian investments that they knew >were silly, and this creation of 'moral hazard' by the peso rescue package >is the real cause of East Asia's troubles" is way, way overdone. > >Excluding China, as best as I can calculate (very approximate numbers): > >Investors in non-Japanese East Asian home currency-denominated corporate >de ...

Document Size:	5553
Author:	Doug Henwood
Date:	Thu Jul 2 10:29:42 PDT 1998

41258 Tibet and the attraction of Buddhism -- rank: 1000

Nathan Newman wrote: >Robert Thurman, one of the Dalai >Lama's top US spokesman and now head of Tibet House in NYC. And, perhaps more importantly, Uma's father. Doug

Document Size:	4701
Author:	Doug Henwood
Date:	Thu Jul 2 09:32:20 PDT 1998

41259 Stiglitz' loose talk again -- rank: 1000

Jordan Hayes wrote: >To hear Stanley Fischer tell it in the Jul/Aug Foreign Affairs, >the IMF was watching closely since about 1/96 in Thailand and >could have pulled the trigger at any time, but allowed it to unwind >in the way it did because of fears of the problems with a pre-emptive >strike. Bart Simpson says you're damned if you do and you're >damned if you don't. Hey, let's get rid of that French socialist Camdessus at the IMF and replace him with Bart! >Do you think ...

Document Size:	6661
Author:	Doug Henwood
Date:	Thu Jul 2 09:29:44 PDT 1998

41260 Stiglitz' loose talk again -- rank: 1000

Brad De Long wrote: >Larry's a Keynesian. He thinks--I believe rightly--that if you try to >eliminate "moral hazard" by making financial institutions that made bad >investments eat all their losses then deflation will take hold, financial >systems will collapse, investment will fall to zero, next to nothing will >get investment going again, and you will have what made the Great >Depression great. He's right, of course, but what about the flipside? Would the Asian bubb ...

Document Size:	5864
Author:	Doug Henwood
Date:	Thu Jul 2 07:45:19 PDT 1998

41261 Tibet -- rank: 1000

I was at a party the other night populated mainly by amiable meatheads, and one of them started in on Clinton's comments that the Chinese and Tibetans should talk with each other, negotiations that would be premised on Tibetan recognition of Chinese authority over Tibet. "Tibet is not part of China! Free Tibet!!," he exhorted, in a departure for a conversation that was mainly about sports and bad movies. I was surprised to hear this fellow getting so exercised about any political issue ...

Document Size:	5034
Author:	Doug Henwood
Date:	Thu Jul 2 07:32:32 PDT 1998

41262 UAW -- rank: 1000

Though you've heard it all alrady, my rant about the GM strike is now up on Feed's home page, <http://www.feedmag.com/>. Doug

Document Size:	4430
Author:	Doug Henwood
Date:	Wed Jul 1 10:29:11 PDT 1998

41263 CUNY's snooping -- rank: 1000

[This forward from Michael Eisenscher bounced.] Date: Wed, 1 Jul 1998 08:16:00 -0700 (PDT) Message-Id: <2.2.16.19980701081727.0e37416c at pop.igc.org> X-Sender: meisenscher at pop.igc.org X-Mailer: Windows Eudora Pro Version 2.2 (16) Mime-Version: 1.0 Content-Type: text/plain; charset="us-ascii" To: (Recipient list suppressed) From: Brodie Dollinger <bdolling at condor.depaul.edu> (by way of Michael Eisenscher <meisenscher at igc.apc.org>) Subject: CCNY Protest Letter ...

Document Size:	8335
Author:	Doug Henwood
Date:	Wed Jul 1 10:24:26 PDT 1998

41264 GM strike -- rank: 1000

William S. Lear wrote: >On Wed, July 1, 1998 at 01:31:57 (-0400) Justin Schwartz writes: >>> ... >>> You know, like unions represent the organized interest of the working >>> class, which is in a rather long-term battle with something called capital, >>> and that the bosses' and stockholders' profits come from the workers' >>> labor. >> >>So you want the unions to come out and adopt Marxism as a their political >>economy? So would ...

Document Size:	5944
Author:	Doug Henwood
Date:	Wed Jul 1 09:33:39 PDT 1998

41265 GM strike -- rank: 1000

[This message from Doyle Saylor bounced because of a technical glitch in the address.] Date: Wed, 01 Jul 1998 07:53:39 -0800 From: Doyle Saylor <djsaylor at netcom.com> Reply-To: djsaylor at netcom.com X-Mailer: Mozilla 3.01-C-MACOS8 (Macintosh; I; PPC) MIME-Version: 1.0 To: LBO <lbo-talk at lists.panix.com> Subject: Re: GM strike Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Hello everyone, Dennis R. Redmond (July 1/98) made some comments to Justin Schwa ...

Document Size:	6843
Author:	Doug Henwood
Date:	Wed Jul 1 09:23:58 PDT 1998