[PEN-L:29571] RE: Re: production & realization

["Devine, James" <jdevine@xxxxxxx>]

Title: RE: [PEN-L:29559] Re: production & realization

I wrote:
> So the "solution" to the undertow created new problems,
> new imbalances, with which we are still living. I think
> they'll keep the U.S. down for quite awhile, even without
> a double dip, unless of course there's a major war.

Sabri asks:
Do you think a war in Iraq, if it happens, is major enough to
save the US? Or, do you have something bigger than that in mind?

me: this kind of thing can't be predicted. My guess is that if the war is big enough to provide sufficient Keynesian stimulus, it will be a bloody hell-hole (nor just for the Iraqis) like the US war against Vietnam. On the other hand, if it's a short sharp shock like the war against Afghanistan, it's likely to provide much stimulus.

Again, we should go back to the (mostly mythical, I admit) old Roman habit under which emperors named themselves after their victories: Ronald Grenadicus, George Iraqicus, Bill Serbicus, George Afghanicus.

JD