Michael Perelman wrote: > >Doesn't the Elliott Wave theory that Doug sometimes posts about > >believe in a Kondratieff > >wave?
Doug: > It's not part of it, but it's related. Most Wall Street K-wavers are > pretty right wing. They believe that all the years of deferring and > displacing the Big Crisis via Keynesian manipulations will only make > the ultimate downwave bigger & nastier than ever. Sound familiar? A strict K-waver doesn't believe that Keynesian policies would affect the periodicity -- or even the intensity -- of the downturn. This theory does sound a lot like some Marxists, except that Marxist theory implies that the rate of profit can eventually be restored at the expense of the domestic and world working class (unless the workers revolt). JD
