Re: Re: Re: Re: Re: Re: Samir Amin: "Not a Happy Ending"

[M A Jones]

Jim Devine wrote:


> Eventually (in 1985-7), the dollar fell (in
> inflation-adjusted terms, using the trade-weighted measure), due to the
> large trade deficits (which had not yet turned into current-account
> deficits) and due to a convergence of US interest rates with those of the
> rest of the world.

This is helpful but the real point is that previous dollar crashes (even
Nixon taking it off the gold standard) have not affecetd the fundamentals of
US hegemony. Why will it be any different now? If Wall Street goes, so will
the world's other bourses; and when the world recovers, other things being
eual, the US will lead the take-off. Plus ca change.

Mark Jones
http://www.egroups.com/group/CrashList