Repeat Offender

DMS dmschanoes at earthlink.net
Mon Feb 10 11:03:58 MST 2003


LP has consented to my return, and I will try
to not make him regret that decision. Can't promise
though.

While I'm here, several recent developments
offer important ground for inquiry.

More than ever, the question of overproduction,
and the relationship of overproduction, oil, and
OPEC is placed in the limelight.  I would offer
that this manifestation of overproduction
begins with the price break in oil in 1986,
shackles Japan with the Plaza accords, taking
an acute form in the early 90s,  breaks
through the continuum of bourgeois optimism
with the Asian crisis of 1997, rolling forward to
Brazil, then Russia in 1998, ravages Argentina
with the full support of the US,
finally shattering the insular smugness of the US
in 2000, 2001.

The impact of overproduction and oil will take
its toll everywhere across the panorama of capital.
Despite the increased revenues from oil, Mexico is
poised on the edge of another economic decline.  With
the decline in employment in the maquilla zones, the
increased restriction on movement to the US, but the
continued dispossession of the rural population (the
real triumph of NAFTA), Mexico will be under
increasing pressure from its internal situation and
the demands of the US.

The future is not so bright that we need
sunglasses, but it's going to be one helluva
fight.

dms



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