Forwarded from John Gulick
jimd48 at btinternet.com
Wed Dec 12 13:40:42 MST 2001
>From Jim Drysdale,
snip> Our textiles went south. Our tobacco went
>> south. Our dot-coms went bust, with the singular exception of those
>> dealing with the Defense Troika.
JD: Firstly Stan, it's romantic to refer to any business as *ours*. Worse,
IMO, it reveals lack of understanding which is, false consciousness
overlayed with slave mentality. (not pejorative Stan)
Although our rulers press ahead with military investment, the progressive
malfunction of the law of value means that returns will not be at levels of
profit seen in, for example, the so-called Cold War period. That is, for
example, the evolving global depression will not be ameliorated for our
rulers by military spending.
That said, our rulers do require a depression. Should the forces of
production not be retarded then, an even deeper depression. That this is a
risky strategy for our rulers, is hard luck on them and ongoing education
for the working class. Indeed, should our rulers chose to quickly go for
reflation (massive public investment) then, this sends an even louder
message to the working class that capitalist society is a lame duck. So, as
another said......they create their own gravediggers. That is, our rulers
are damned if they do and damned if they don't.
As bourgeois economic commentators (mainly, apologists) search for a letter
of the alphabet to describe the duration and depth of the evolving
depression, a learned friend of my own suggests an inverted square root.
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