viveka and oil

David Schanoes dmsch at
Sun Jan 12 13:12:58 MST 2003

And that's exactly where you proved my logic correct... To wit, your cash
flow isn't determined by the availability of food, but by the profit capital
generates by having you work for it.  When that profitability declines, you
will experience a shortage all right, in your paycheck.

During the Indonesian crisis, the rice markets dried up, almost literally
overnight.  Was that because of a shortage of rice?  No.  It was because of
a shortage of the profitable exchange of rice.

During the coincident Asian, Brazil, Russia crises, the markets for emerging
market debt shrunk by 70%. Within days a tidal wave of excess liquidity
disappeared and then reappeared as a capital shortage, a "liquidity crisis."
Was there a shortage of capital?  Absolutely not.  Capital had simply
retired to the safety of its private property.

Look at the telecommunication industry in the 90s.  Productivity soared,
capital investment outpaced investment in any other sector (save investment
in....trucks, communications and transportation are always the hallmarks of
a capital invst. boom).
And the market collapsed because of shortages? Just the opposite, because of
overproduction  i.e. estimates are that 97% of the fiber optic cable systems
developed in the last decade are still dark and will remain so-- production
outpaced profitable reproduction.

Regarding levels of comprehension....I would expect that clearly
understanding and articulating the forces at work are essential to not an
individual "working stiff," but to that  conscious class of workers moving
to take power.  You may or may not get a lot of people out into the street
by saying they won't be able to run their SUVs and power saws in ten years
unless... Unless what?  That's the question, unless there is socialism and
they seize power?  But Mark's argument is that without or with a revolution
power saws and SUVs are destined to run out of gas.  So what do we do with
those in the street?

 I say we articulate a program that attacks austerity, privation, and the
system that produces, indeeds requires poverty, scarcity, depression, war as
the complements of profit, overproduction and private property.

And I don't think that's easy.  Which is why I'm here to begin with.  I'm
hoping to get some clues, help, aid, to developing that program.

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