Ann Davis wrote: > Re: the recent debate on nationalization of banks, please consider these > points: > > Pro: > Such a nationalization reveals the underlying public, social nature of the > production, realization, and "preservation" of surplus. > > Con: > A government takeover at this time saddles the public with financial assets > which are vastly over-inflated. Then the deflation occurs at the public > expense.
FWIW, a lot of the deflation would occur at the public expense if the government _doesn't_ take over, assuming that there's no alternative government policy: the cut-back in credit, the way in falling asset and product prices make previously-taken debts more onerous, etc. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
