[Marxism] Dr. Doom Squared: print money or die
sartesian at earthlink.net
Sun Mar 1 08:35:22 MST 2009
Right, shock and awe. War policies. Gee, that's worked so well everywhere,
Baghdad, New Orleans, really sorted out those situations, the old shock and
awe did, didn't it?
Who's the "we" in "we're at the tipping point"?
Who cares, honestly, about the squealing and whining of these little pigs
going to market and finding there is none?
Only concrete point he makes is that China is hardly the big engine that
could; it's the little engine that couldn't, and as a little engine,
targeting it for culpability, as this creep does, in the collapse is just
bullshit. China's mercantilist policies? How about France's, Germany's,
Of course, some of us were arguing over a year ago that China's economy was
a paper tiger, and that exports from Asia were starting to flatten and
One other thing, I think my credentials as a Greenspan hater are unmatched,
perhaps worldwide, but the Fed did increase rates through 2005 and 2006--
holding them steady when the first ripples of distress were manifesting
themselves in the mortgage markets.
----- Original Message -----
From: "Marv Gandall" <marvgandall at videotron.ca>
To: <sartesian at earthlink.net>
Sent: Sunday, March 01, 2009 9:22 AM
Subject: [Marxism] Dr. Doom Squared: print money or die
Ambrose Evans-Pritchard, the notoriously gloomy Telegraph columnist, says
we're at the tipping point, and unless the Fed urgently and massively begins
buying US long bonds, a "cataclysmic structural breakdown" will make the
30's depression look mild by comparison. Already, economies are collapsing
at a faster pace than they did then, and will result in "social mayhem
(which) comes with a 12 month lag." He says the US can threaten to use it's
economic and military power to avert a run on the dollar.
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