Re: [Marxism] Releases

["S. Artesian" <sartesian@xxxxxxxxxxxxx>]

Well, you know what the old adage about the other shoe dropping?  In this 
case, capitalism is a little bit more like a millipede, and a lot less like 
a bipedal, and the shoes are coming off in bucketfuls-- commercial real 
estate bankruptcies are up, regional banks are tanking due to loans to 
construction companies, industrial production-- well it's so bad everywhere 
that Russia and China blame the US when just a year or two ago everybody was 
predicting that China, Russian, Brazil, India, would replace the US as an 
economic center of gravity-- turns out the US still is that center of 
gravity, even if the gravity is that of a black hole.

Speaking of black holes, TARPs, and bad banks... what's all this recycled 
guff about creating a bad bank to take over the non-performing loans of the 
investment and commercial banks?  We already have our bad bank.  It's called 
the Federal Reserve-- which has emptied its coffers in the guarantee, 
purchase, acceptance of bad debt.

And Europe?  Reports are today that Ireland, Portugal, Greece, and even 
Spain are considering, just considering, dropping out of the euro currency 
zone,  and restoring their national currencies so they can allow them to 
float, actually, sink, in one more episode of  "All My Children Beggar Thy 
Neighborsn As the World Turns."

I just don't see a way out for the bourgeoisie save a big, big war, or an 
equivalent, something like what Hurrican Katrina did to New Orleans but on 
hemispheric scales.  Baghdad, Gaza, New Orleans-- I've seen the invisible 
hand at work, and it's the hand of Jack the Ripper.


----- Original Message ----- 
From: "Tom Cod" <tcod@xxxxxxxxxxx>
To: <sartesian@xxxxxxxxxxxxx>
Sent: Friday, January 30, 2009 9:37 PM
Subject: Re: [Marxism] Releases



My landlord has had my rental house for sale for a year without
a single inquiry and I think he's underwater with his mortgage
exceeding the market value.




________________________________________________
YOU MUST clip all extraneous text when replying to a message.
Send list submissions to: Marxism@xxxxxxxxxxxxxxxxxxx
Set your options at: 
http://lists.econ.utah.edu/mailman/options/marxism/archive%40archives.econ.utah.edu