[Marxism] IMF style austerity in the works for the USA? (S. Artesian)
bbauerly at gmail.com
Sat Oct 17 10:16:33 MDT 2009
Part two of Leo Panitch interview on the dollar.
In it he confirms my statement that a decline in the dollar will bring about
at least somewhat of a decrease in unemployment but he agrees with
S.Artesian that it does not necessarily mean increased health of the US
economy due to the integration of US capital globally. He also believes
that the US and other central banks *are* monitoring and controlling the
decline (which is still only down to the level it was at in 2007 before, as
S.Artesian rightly points out, it became the safest place to store value).
He also discusses the impact that this will have, or any further decline,
would have on the global south. How this brings to the fore the fundamental
question of the globalization/export orientation policies that have
dominated the last few decades. I am still a bit unsure where he is going
at the end with his list of transitional demands. The part about how this
could bring fundamental questions to the table seemed a bit more interesting
and a place where revolutionaries could take up and expand on.
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