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Roberts concludes his latest Jeremiad with this "Monetarist solutions to the global slowdown have failed; Keynesian fiscal solutions are not being introduced and would not work in the long run anyway. The only way out is another slump." This sounds similar to the advice Mellon was supposed to have given Hoover -"Liquidate". Maybe I have become a softie, but I am hoping that we will not go over the edge and that fiscal initiatives will be launched. I am too old to be worried by the claim that Keynesian solutions "will not work in the long run". There is no long run as far as I am concerned. If the austerians have their way and they cut taxes and government spending, then we will simply head into the Slump. Then the suffering will be terrible. At times like this Roberts sounds almost cold-blooded and he reminds me a lot of the characters that ran the ISO tendency here. Having said that, I would repeat his blog is invaluable as a window into the current debates. comradely Gary _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: http://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
