Re: [Pen-l] Scenes From the Global Class War

["Jim Devine" <jdevine03@xxxxxxxxx>]

why is this "class war"? It seems to describe redistribution _within_
the capitalist class.

Charles Brown wrote:
> http://www.counterpunch.org/hudson10272008.html
>
>
> Scrawny Geese; No More Golden Egg
> Scenes From the Global Class War
> By MICHAEL HUDSON
>
> On Friday, October 24, the pound sterling dropped to just $1.58 (down
> from $1.73 earlier in the week, an enormous plunge by foreign-exchange
> standards), and the euro sunk to just $1.26, while Japan's yen soared
> by 10 per cent. These shifts threatened to disrupt export markets and
> hence industrial sales patterns. Global stock markets plunged from 5 to
> 9 per cent abroad, and there was talk of closing the New York market if
> stocks fell more than 1,000 points. Pre-opening trading saw the Dow
> Jones Industrial Average down the maximum limit of 550 points (largely
> on foreign selling) before bounding back to lose "only" 312 points
> as the dollar soared against European currencies.
>
>
>
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-- 
Jim Devine /  "Nobody told me there'd be days like these / Strange
days indeed -- most peculiar, mama." -- JL.
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