[PEN-L:31588] RE: "The Late '90s Never Happened"

[Sabri Oncu <soncu@xxxxxxxxxxx>]

> An unemployment rate of 3.9 percent happened, with or without
> hindsight. Corporate earnings misstatements do not erase that
> fact.
>
> It makes sense that at some prior period, the process leading
> up to a state of overproduction or excess capacity would have
> generated tight labor markets and rising wages.
>
> I think we could say you need a period of good times in order
> for an economy to get into trouble.
>
> Even so, if 5.x percent unemployment is the worst we can find
> as an economic problem, I think capitalism gonna be 'round a
> long time.  Obviously if the oil runs out too soon the story
> changes.

You speak like some American economist who live in the US. Sure
it is not that bad here. Except if you worked in one of those
cubicles at some money management firm like Putnam or Dresdner,
where they kill your soul. Well, at least at Dresdner, I had a
nicely furnished office overlooking the Angel Island in the San
Francisco Bay. Yet it was the worse cell I have ever been
imprisoned. Worse than those so-called F-type prison cells back
home.

But where I came from, 5.x percent unemployment is just a happy
dream. Talk about 25.x percent unemployment. And it is getting
worse by the day.

> Also, folks elsewhere are in different straits, but
> what can they do?

Don't know. But back home, most likely folks will vote for
fascist nationalists or Islamic fundamentalists. Or another
fascist coup will come. It has been more than 20 years since the
last one so the next one has long been overdue.

> reformingly yours,
> mbs

Revolutionarily yours,
Sabri