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6871 [lbo-talk] Adolph Reed on the politics of the crisis -- rank: 1000

On Oct 1, 2008, at 9:56 PM, shag wrote: > dude. you and reed are like twins on this topic. quit while you are > ahead coz you will look foolish if you don't! Adolph doesn't think political action is hopeless the way Carrol does. He wouldn't spend so much of his time organizing for the Labor Party if he did. Doug

Document Size:	5029
Author:	Doug Henwood
Date:	Wed Oct 1 19:04:21 PDT 2008

6872 [lbo-talk] interbank lending -- rank: 1000

On Oct 1, 2008, at 9:45 PM, dredmond at efn.org wrote: > Yes, this is important. Folks, the economy has tons of problems, but > the > issue right now is that interbank lending has stopped. This is not a > fake > crisis. It's the equivalent of a massive heart attack - liquidity > ain't > flowing anywhere in the US. This can't go on much longer, or THE REAL > ECONOMY WILL IMPLODE. This is damn serious stuff Hey, don't you read TPM and Truthout? It's all a hoax!

Document Size:	5087
Author:	Doug Henwood
Date:	Wed Oct 1 18:58:27 PDT 2008

6873 [lbo-talk] auto sales crater -- rank: 1000

On Oct 1, 2008, at 9:31 PM, Jordan Hayes wrote: > There are other things going on in the auto business: > > - Cars have gotten better > . The engineering of things like 100,000 mile oil changes means "make > it up on service" doesn't cut it as much as it used to > . They just last longer, so turnover is lower than it used to be Well, not really. Auto sales were well above their long-term trend since the late 1990s. The chart kind of looks like house prices. And no ...

Document Size:	5052
Author:	Doug Henwood
Date:	Wed Oct 1 18:48:36 PDT 2008

6874 [lbo-talk] auto sales crater -- rank: 1000

[This is how, to use the cliche, the problems of Wall Street hit Main Street.] <http://news.yahoo.com/s/nm/20081001/bs_nm/us_usa_autosales_11> Auto sales plunge as credit crunch hits By Kevin Krolicki WASHINGTON (Reuters) - Major automakers reported plunging U.S. sales for September -- led by a 34 percent slide at Ford Motor Co -- as an escalating credit crisis hit the slumping industry and raised new doubts about when the world's largest auto market would stabilize. The 26-percent dro ...

Document Size:	9645
Author:	Doug Henwood
Date:	Wed Oct 1 17:43:16 PDT 2008

6875 [lbo-talk] interbank lending -- rank: 1000

[Posted this earlier to PEN-L.] > On Oct 1, 2008, at 4:38 PM, Jim Devine quoted Dean Baker: > >> Washington DC's Fox affiliate appears to have been taken over by Wall >> Street lobbyists. It has been reporting all sorts of unsubstantiated >> assertions that a credit squeeze is destroying the economy. You'd >> never know that typical 30-year mortgage is going for around 6.0 >> percent these days. Back when I last bought a home I had to pay 7.15 >> percent ...

Document Size:	7638
Author:	Doug Henwood
Date:	Wed Oct 1 17:37:46 PDT 2008

6876 [lbo-talk] Adolph Reed on the politics of the crisis -- rank: 1000

On Oct 1, 2008, at 6:43 PM, Dorene Cornwell wrote: > NPR thread has Bernanke fixated on the Depression where he thought the > government took too long to respond. It is where he made his academic nut.

Document Size:	4906
Author:	Doug Henwood
Date:	Wed Oct 1 16:00:34 PDT 2008

6877 [lbo-talk] House rejects bailout -- rank: 1000

On Oct 1, 2008, at 5:47 PM, SA wrote: > Doug, your line is so contradictory there must be something besides > pure analysis going into it. When it comes to health care reform > you're a purist: The Demoplan is a sellout, it won't fix the > problem, it should be single-payer or nothing. (I agree.) That's > your stance even though, speaking realistically, "we" don't have any > real leverage to back up such hard demands on the health care > industry. Bailouts require ...

Document Size:	5101
Author:	Doug Henwood
Date:	Wed Oct 1 14:58:20 PDT 2008

6878 [lbo-talk] No bailout needed -- rank: 1000

On Oct 1, 2008, at 3:34 PM, C. G. Estabrook wrote: > House Prices Continue to Decline as Talk > of Credit Crisis Spins Out of Control > October 1, 2008 > By Dean Baker > > "The root cause of the crisis is the deflating housing bubble, > credit problems are secondary." "The root cause of the housing bubble is rising prices; the easy credit that financed it was secondary." That would make about as much sense as this argument. Doug

Document Size:	5009
Author:	Doug Henwood
Date:	Wed Oct 1 12:44:56 PDT 2008

6879 [lbo-talk] House rejects bailout -- rank: 1000

On Sep 30, 2008, at 11:45 PM, Joanna wrote: > Argentina used to be a rich country (the 6th richest in the world), > after many years of socializing private debt, the middle class was > destroyed and the country pauperized. Argentina was rich in the early 20th century because it exported grain and beef to Britain. It never industrialized, so it followed the path of all commodity exporters: down. Doug

Document Size:	4954
Author:	Doug Henwood
Date:	Wed Oct 1 12:14:46 PDT 2008

6880 [lbo-talk] No bailout needed -- rank: 1000

On Oct 1, 2008, at 4:03 AM, Charles Peterson wrote: > Only elites who worry about esoterica like TED Yeah, that's it. It's the elitists. Christ.

Document Size:	4612
Author:	Doug Henwood
Date:	Wed Oct 1 12:13:13 PDT 2008

6881 [lbo-talk] Adolph Reed on the politics of the crisis -- rank: 1000

On Oct 1, 2008, at 1:52 PM, Shane Mage wrote: > Oh, *that* Jesse Jackson--backer of every Dumbocrat imperialist > presidential candidate, spiritual adviser to Willy Clinton, you > know, the one who strutted around proclaiming "I'm the general in > the War on Drugs." Yeah, *that* "leftwinger." As opposed to that "leftwinger" Ralph Nader, who uses the word "socialist" as a smear. Doug

Document Size:	5172
Author:	Doug Henwood
Date:	Wed Oct 1 10:58:17 PDT 2008

6882 [lbo-talk] Adolph Reed on the politics of the crisis -- rank: 1000

On Oct 1, 2008, at 6:56 AM, shag wrote: > i've always seen him as speaking to people who want radical change, > with the primary target being the elimination of capitalism. people > who under most circumstances recognize that the change isn't going > to come about through electoral politics. ("under most" because in > years divisible by four, they get distracted....) > > doug? do you think that's about right? More than about - exactly.

Document Size:	5242
Author:	Doug Henwood
Date:	Wed Oct 1 09:57:07 PDT 2008

6883 [lbo-talk] non sequiturs -- rank: 1000

[from The Note] "I have never been an astronaut, but I think I know the challenges of space." --John McCain to the Des Moines Register editorial board when asked if he has ever been without taxpayer-financed health care.

Document Size:	4688
Author:	Doug Henwood
Date:	Wed Oct 1 09:08:05 PDT 2008

6884 [lbo-talk] Adolph Reed on the politics of the crisis -- rank: 1000

On Oct 1, 2008, at 10:17 AM, rayrena wrote: > Then why does he criticize people for not being practical, > i.e., for not coming up with some sort of alternative > bailout plan? Because Adolph is trying to do radical politics while remaining rooted in reality. We make history but not with the tools of our own choosing, to paraphrase the Old Man. It's not an easy balance. But I've never really heard any plausible plan for how to get there from here from any anarchist/autonomist, and I ...

Document Size:	5250
Author:	Doug Henwood
Date:	Wed Oct 1 07:56:50 PDT 2008

6885 [lbo-talk] Goolsbee: subprime was pretty groovy (in 2007) -- rank: 1000

On Nov 30, 2008, at 10:02 PM, Max B. Sawicky wrote: > And in general looser credit is better than tighter credit, within > limits that > were obviously breached, but looser is the more liberal impulse. Well, no. Loose credit is often the cowardly solution to class conflict. Instead of taking money from the rich, they're encouraged to lend it to the poor. Instead of having a rational housing policy, which insulates shelter from the idiocies of speculative markets, we have subprime lo ...

Document Size:	5361
Author:	Doug Henwood
Date:	Sun Nov 30 20:02:09 PST 2008