Doug Henwood wrote,
>Given their track record over the last 20-25 years, you have to give U.S.
>crisis managers the benefit of the doubt in their ability to turn potential
>disaster to their advantage. That's not to say they can do it forever,
>but....
This is the one fact that would tend to dim the prospects of a new long
upswing. In light of these crisis management successes, has there been
enough of a destruction of capital assets that would establish a foundation
for a long upswing? My impression is that there has been a lot of
"reorganization" and "rolling readjustment", but that the net result has
been to prop up the value of capital assets. Is such a thing as a rentier
long upswing even possible?
Regards,
Tom Walker
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