[PEN-L:32517] Re: Re: Stallin Stalin 3 of 3

[joanna bujes <joanna.bujes@xxxxxxxxxxxx>]

At 09:17 PM 11/22/2002 -0800, Sabri wrote:
"but maybe we can explain this shift of capital from
production to speculation using a more comprehensive theory,
which does not exclude advanced robotics."

From my reading of Marx, I seem to remember that the shift from productive
to speculative capital is cyclical (along with the business cycle) and
happens as industries mature and profit margins start to shrink. In
addition, the gradual elimination of pension plans and the self-inflating
bubble as 401K money poured into the stock market....ever increasing
amounts chasing a relatively fixed number of shares, very likely inflated
this bubble beyond normal speculative bounds.

Sabri also wrote
"I am also of the opinion that the current stage of speculation is
about to come to an end and expect a new shift of capital, this
time, from speculation back to production. I suspect that this
shift started to take place with the Republican coup of 2000 in
the US, although, this is just a speculation on my part."

I don't know. If they can put social security money into the Stock Market,
that will be an additional inflationary force, giving rise to the phantom
of another great bull market. Then all the insiders will pull out and the
majority will be left pennyless.

Then, they'll be done and another cycle of "productive" investment will
start, greatly fueled by the workers' need to eat.

Joanna