Doug Henwood wrote:
In the second half of the 19th century, the U.S. was in recession or
depression or panic about half the time. Violent booms alternated
with violent busts. The proletariat was surly and rebellious and even
the bourgeoisie wasn't happy with the situation. Is that what we
should go back to?
But it's only a few days since you told us that's what we *are* going back
to:
Because it's more of a 19th century slowdown than a post-WW II one,
with a financial hangover from the burst Nasdaq/tech bubble, and a
real sector one from overinvestment in gadgets. It's probably going
to take some time to work through it.<< [pen-l13799]
Mark Jones