[Marxism] The fantasy world continues | Michael Roberts Blog

Louis Proyect lnp3 at panix.com
Thu Nov 28 05:47:59 MST 2019

The fantasy world continues.  In the US and Europe, stock market index 
levels are hitting new all-time highs.  Bond prices are also near 
all-time highs.  Investment in both stocks and bonds are delivering 
massive profits for the financial institutions and companies. 
Conversely, in the ‘real’ economy, particularly in the productive 
sectors of industry and transport, the story is dismal.  The world’s 
auto industry is in serious decline.  Layoffs of workers are on the 
agenda in most auto companies.  The manufacturing sectors in most major 
economies are contracting. And as measured by the so-called purchasing 
managers indexes (PMIs), which are indexes of surveys of company 
managers about the state and prospects for their companies, even the 
large service sectors are slowing or stagnant.


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