G'day Penners,
Time to go out on a limb.
If I were one of those 'bargain hunters' who have hitherto responded to 3%
drops with 2% rises the next day, I wouldn't get out of bed today.
'Sentiment' today ain't what it was last week. You wouldn't find a bull in
Pamplona today.
Greenspan has shot
From Electronic Telegraph http://www.telegraph.co.uk
Crashed airliner carried
chemical used in nerve gas
By Paul
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-- =_NextPart_000_01BDEE0A.375A6410
BLS DAILY REPORT, THURSDAY, OCTOBER 1, 1998
While the broadest measures of output may not confirm it for a few more
Tom Walker wrote:
My crude hypothesis, which I divulged to Max and to Doug Henwood back in
August, is that the recently deceased stock market bubble of the mid-1990s
could be explained by a demographic anomoly which saw a substantial increase
in the working force population at peak earning (and
October 2, 1998
On Election Eve, Doubts Cloud Brazilians' Outlook
By DIANA JEAN SCHEMO
RIO DE JANEIRO, Brazil -- When Josue da Silva stepped up to the consumer
society four years ago, the ground underfoot felt solid and endless.
For the first time in years inflation in Brazil was under
MIchael E. is correct in his warning. Perhaps this could revive some
interest in our project about intellectual property.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
No, I don't really have much to say in this message. I just couldn't resist
the title idea. CBC radio news this morning featured Atlas Al's house
testimony and he sounded, well, whiney and weak. Looks like the god of '87
has feet of clay in '98. Didn't somebody once mention that Greenspan was an
Doug Henwood wrote,
The only problem with this thesis, Tom, is that U.S. savings rates have
declined throughout the stock boom, with 98Q2 setting a post-Depression low
of well under 1%, and the new money coming into the market was almost
entirely the result of portfolio shifts out of banks and
Forwarded message:
Delivered-To: [EMAIL PROTECTED]
Delivered-To: [EMAIL PROTECTED]
Date: Thu, 01 Oct 1998 19:23:14 -0700
From: "Albert V. Krebs" [EMAIL PROTECTED]
Reply-To: [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Subject: THE AGRIBUSINESS EXAMINER #5
X-UID: 505
Hi folks:
Does anyone know of good articles on the political economy of the tobacco
and cigarette trade, particularly as it relates trade/investment
liberalization?
Jeff
On Fri, 2 Oct 1998, Max Sawicky wrote:
As long as the big, bad State has the power to
tax anything it wants, it can finance anything
it wants by taxing.
Max, you raving, wild-eyed socialist, you. We *must* get you appointed to
Treasury Secretary one of these days. And yes, you have our
On Fri, 2 Oct 1998, Louis Proyect wrote:
The brute fact is that capitalist growth slowed down in the early '70s and
neither neo-Keynsianism, nor monetarism has worked to change that. The
reason for a slowdown in growth is that there is a slowdown in demand,
which government policy under
Hi,
Perhaps some of you are interested in this?
Check this:
At 136 of 180, Russia is now below Ethiopa, Togo and Bangladesh in how banks rates its
risk for investment.
Last yr it was 78.
more at www.euromoney.com.
COUNTRY RISK
How the mighty
As long as the big, bad State has the power to
tax anything it wants, it can finance anything
it wants by taxing.
Once again, Max, you are absolutely right. In principle.
All it would take is a political upheaval of the magnitude of, say, a
socialist revolution to enact Max's sensible
Sawicky cited Eisner,
If workers are W, retirees R, and everybody else O,
then W/R necessarily decreases more than W/(W+R+O).
Workers have to "feed" everybody, so the latter
is the more defensible ratio to compare over time.
Its increase is in the single digits.
Yes and no. O's don't
With the discussion of social security, I thought people might be
interested in this section of a campaign proposal I prepared informally for
some immigrant rights friends:
IMMIGRATION WILL SAVE SOCIAL SECURITY . . .
A basic dilemma in this debate is the choice
between offering fixes for a
Hi all,
With the discussion of social security, I thought people might be
interested in this section of a campaign proposal I prepared informally
for some immigrant rights friends:
IMMIGRATION WILL SAVE SOCIAL SECURITY
Conservative political forces have been generating a drumbeat of criticism
As long as the big, bad State has the power to
tax anything it wants, it can finance anything
it wants by taxing.
Once again, Max, you are absolutely right. In principle.
All it would take is a political upheaval of the magnitude of, say, a
socialist revolution to enact Max's sensible
Max wrote,
Since 1984, the defense budget as a share
of GDP has shrunk more than is needed to
fix Social Security for 75 years. Call
that an upheavel?
For the third time in a row, let me repeat, Max, I AGREE with your analysis.
It's not your analysis I'm disputing. It's the relevance of your
Quoth Eugene Coyle:
Yes Greenspan was known as an Ayn Rand fan, and we should keep reminding
ourselves that he also provided a letter for Charles Keating assuring
regulators that all was well with that fraud.
We should also remind ourselves that Rand's literary colossi at least
were producers
[THIS FROM A FRIEND. DIRECT ALL INQUIRIES TO THE PHONE NUMBER BELOW, NOT TO
ME.]
Just got something of true interest in the mail from National
Educ. Assoc. The headline reads: "NEA REpport Documents Link Between
Anti-Worker and Anti-Pulic Eduction Initiatives."
Story links an
A reporter for the Wall Street Journal has posted requests for crazy taxes that
have been levied over the last 1000 years. I responded that there has also been
considerable craziness in tax breaks.
I wonder if you might have some suggestions to pass on to the paper.
--
Michael Perelman
Forwarded message:
Delivered-To: [EMAIL PROTECTED]
Delivered-To: [EMAIL PROTECTED]
Date: Fri, 2 Oct 1998 17:55:14 -0700 (PDT)
To:
From: Michael Eisenscher [EMAIL PROTECTED] (by way of Tom Condit
[EMAIL PROTECTED])
Subject: Follow the money
X-UID: 610
[THIS FROM A FRIEND. DIRECT ALL INQUIRIES
Max Sawicky:
If the real
capital stock and labor force grow moderately,
the numbers say the output will be there.
That's a big "if" based on the numbers contained in Harry Shutt's "The
Trouble With Capitalism", Zed Books, 1998, p. 38.
Louis, the predicted shortfall (which opens up
in 2032) is
(Though this is a pen-l discussion, I'll send it to lbo-talk. I'm below
quota today.)
Now that it's settled that Max Sawicky and Louis Proyect are not the same
person, we can examine a debate between them. Or to keep it simple, let's
simply look at what Louis
Dennis Redmond:
Ah, but it could indeed -- but it would mean raising effective *global*
demand -- the Seventies slowdown was a result of that first great wave of
globalization, otherwise known as the Sixties; investment in East Asian
sweatshops and military-run Brazil boomed, but net demand
WSWS : News Analysis : North America
US Department of Health and Human Services report
The prosperous live longer
By Debra Watson
2 October, 1998
Income inequality has created a
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