Re: [Pen-l] Super-structure reflects infra-structure

["Jim Devine" <jdevine03@xxxxxxxxx>]

Charles Brown wrote:
> Here's a novel idea. The current financial crisis is the long term crisis in US industry finally expressed, the financial super-structure finally reflecting the de-industrialization of the US, the Rust Belt, the auto,-steel-manufacturing crisis of the last 30 years; and Wall Street as US finance, not international finance.

> Capitalism can run, but it can't hide from its own _Real_ American contradictions.<

In so many words, that's what I've been saying: in desperate brevity,
without the development of a (financial) bubble economy, the US
economy would have stagnated (due to stagnant mass consumption). But
the bubble couldn't last. The fowl have come home to roost.
-- 
Jim Devine /  "Nobody told me there'd be days like these / Strange
days indeed -- most peculiar, mama." -- JL.
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