Hillel Ticktin, or, is there an economic crisis ?

["dmschanoes" <dmschanoes@xxxxxxxxxxxxx>]

JB writes:
"If you were to do a careful, rigorously systematic quantitative analysis of
the international economic data, then you would easily see that there exists
a plethora of capital in the world, in that sense, a capitalist crisis
simply does not exist at all, that is just middle class anxiety."
_____________________-

At the risk of appearing as a classicist, having done a quantitative
analysis of rates of capital formation since 1991 (and before in the NIEs of
Asia), I would have to say that "plethora of capital in the world" is
exactly "that sense" which proves the 'existence' of a capitalist crisis.

"The left" more often than not has made a "fetish" of crisis, i.e.
substituting crisis as a thing, an object in itself, rather than the product
of specific social relations of production, not understanding by half the
importance of crisis to the reconstitution of capital. However,  the current
predicament of capital, clearly the result of continuous and frenzied
overproduction beyond the capacity  for reproducing, sustaining, a
sufficient rate of profit, is acutally a classic crisis, and critical for
the class.   The solution for capital's class  is nowhere save in the
destruction of the means of production and the immiseration of almost
everyone under the banner of privatization, with of course the appropriate
government contracts, subsidies, loans, military ventures, and bail outs, to
make privatization a reality.

dms