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-----Original Message-----
From: owner-pen-l@xxxxxxxxxxxxxxxxxxx
[mailto:owner-pen-l@xxxxxxxxxxxxxxxxxxx]On Behalf Of Tom Walker
Sent: Monday, September 17, 2001 8:38 PM
To: pen-l@xxxxxxxxxxxxxxxxxxx
>Subject: [PEN-L:17283] "All out-bid"


 Fed, Treasury Act to Prop Up U.S. Economy

 Policymakers on Monday launched an all out-bid [sic] to keep a wobbling
U.S.
 economy from toppling into recession, cutting interest rates and talking
 up confidence to try to soften the impact of last week's attacks on the
 World Trade Center and the Pentagon.

An "all-out bid" that consists of fiddling and talking? Astonishing. The
untold story is that wars cannot be fought on just-in-time flexible labour
practices. As Michael Moore and Paul Krugman each pointed out recently,
"airport security" is an oxymoron when security guards are paid $9.00 an
hour. If policymakers believe that fiddling with interest rates and talking
about confidence will stabilize the world economy, which was already headed
into a recession, we're in really big trouble. Let's hope they were buying
time while they figure out what to do. But we can't assume that.

Our neo-liberal, free market zealot leaders have been fiddling for years
while the world's SOCIAL-economy has been burning. "There is no
alternative," they told us time and again. If that remains their mind set,
then we have to fear that their military strategy is based on the same
solipsistic contempt for reality. In that case we are in big trouble --
militarily, economically and socially.

Tom Walker
Bowen Island, BC
604 947 2213