Re: [A-List] Global Economic Prospects: Bright for 2004

[Hudsonmi@xxxxxxx]

In a message dated 5/25/04 12:17:22 PM Eastern Daylight Time, hliu@xxxxxxxxxxxxxx writes:


> IIE paper are not dismissed because they represent mainstrean views, but 
> because they have lost all credibility over decades of faulty analysis 
> and forecasting.  The Mussa paper in question said nothing fresh or new 
> and instead mislabeled once more a liquidity bubble for a recovery.  
> Mussa blaming Argentina for debt addiction is like the liquor industry 
> blaming alcoholics for lack of self-control.  People who listened to IEE 
> forcasts have lost their life saving in the past and will again in the 
> fututre which is the true defintion of folly.  To be taken to the 
> cleaner once is human, to be taken repeatedly merely because the crooks 
> are part of the establishment is voluntary slave mentality.  Greenspan 
> and company are not distinguished for their wisdom or clear insight, but 
> for the power to manipulate the market and only fools still take them 
> seriously.  There is no bigger crime than a crooked casino operator.  
> False recoveries are the device to suck up whatever little money is left 
> in the system from pensioners, widows and orphans.  Look at the list of 
> the directors of IIE from its web site and you will see a group who have 
> lost a lot of other people's money which seem to be the key criteria for 
> membership.   They are not even competent capitalists.  The left does 
> not need to overthrow the system, these idiots are working hard on from 
> the inside.  Argetnina was the poster boy of neo-liberalism before its 
> debt problems surpfaced. So was Thailand, Indonesia, South Korea and 
> even Japan.  All of them listened to the IIE and ended up in the poor 
> house just to keep the lenders whole.
>
>
> Henry C.K. Liu


Henry says:
Mussa blaming Argentina for debt addictionis like the liquor industry 
blaming alcoholics for lack of self-control. 

       Let's extend the metaphor, Henry. I like it in a way. Suppose that Argentia WAS a drunk and lost self-control. A bartender or host who sends a patron or guest out drunk is legally liable if and when the imbiber gets in a wreck and hurts himself or others.
       Where is the parallel liability? How much should the IMF/ IIE pay in damages for facilitating the accident that occurred?
       Michael Hudson