[PEN-L:32839] Re: Bush Ousts O'Neill, Lindsey

[Chris Burford <cburford@xxxxxxxxxx>]

At 06/12/02 13:27 -0500, you wrote:


> i am sure you are all aware of this. i am posting the news since nobody
> has and i am interested in hearing your opinions.
>
>         --ravi


Unlike Greenspan e was unsubtle in taming the animal spirits of the stock
exchange. But fundamentally he was powerless to remedy a situation in which
the USA cannot keep its economy accumulating and its consumers consuming,
by a continued unequal exchange of value with the rest of the world. It is
going to have to bear a proportion of the burden of the crisis.

Bush is starting to run out of options, because whatever is done with the
currency or taxes, fundamentally there is a finite global mass of exchange
value. It is a zero sum game. The incessant drive of capital to accumulate
will inevitably come up against the limited purchasing power of the masses.


Chris Burford

London