Re: Re: Re: Re: RE: Re: Re: Speaking of volatility

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

Doug, I don't entirely disagree with you, but part of the problem w/ the
Asian crisis was that it was localized -- leaving the neoliberal
juggernaut relatively unaffected.  It was the worst of both worlds -- a
crisis with a neoliberal solution.

On Fri, Jul 13, 2001 at 12:34:44PM -0400, Doug Henwood wrote:
> Michael Perelman wrote:
>
> >Nobody is salivating over the prospect of the working class suffer, but it
> >did not do that well during the Clinton "boom."  But I do relish the
> >downfall of many highly leveraged businesses.
> >
> >I recall your glee at the demise of some of the dot.coms -- a
> >pleasure,which I shared with you.
>
> I'd like to see some Wall Street oinkers and their apologists take a
> hit, and have to do something useful, like cleaning bedpans. But I
> don't relish the fact that 410,000 U.S. workers are filing first
> claims for unemployment insurance every week, and that slacker labor
> markets will be bad news for wages. The working class didn't do that
> well during the Clinton years, but it did better than it did during
> the Carter, Reagan, and Bush years. And the U.S. slowdown hasn't been
> great news for Latin America; Argentina, which already had plenty of
> problems, is going through the wringer now in part because of what's
> going on here. It's not so great for Southeast Asia either.
>
> Doug
>

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx