Jim Devine wrote:
Charles Brown wrote:
There are Truth-in-Lending laws. They can be strengthened. I get the impression
what we had to work with in Legal Services from the 70's was weakened by
Reaganism. The target should be predatory lending practices, not so much loans
to people who are
Patrick Bond wrote:
Very eloquent summary, Julio, which is excellent but for the lack of
attention to the overaccumulation dynamic. Doesn't that feature in your
story? (That's also where Sam, Leo, Doug, Giovanni and a few others
depart from the crisis theorists.)
Thanks, Patrick. Well, I
Greetings Economists,
On Dec 20, 2007, at 4:51 PM, Julio Huato wrote:
My telegraphic opinion re.
the prospects of capitalism is that capitalism is a bundle.
Doyle;
I look forward to more remarks like this. Very well stated which
feeds my own thoughts. I have begun to feel lack of options in
Only to report to PEN-L that, after 2 years and 9 months of unjust
imprisonment in Queretaro, Mexico for helping workers in their fight
for better living conditions, Cristina Rosas Illescas has been
released. She is thanking all those who supported her. (Thanks
Yoshie for publishing an article I
Doyle wrote:
The intelligence agencies of the U.S. have implied this end of
neoliberalism would open the door to a revived Marxism.
To the extent Greenspan's Age of Turbulence is not a inane act of
self-rationalization, of public exculpation of his past sins, it is an
equally dull attempt to
Patrick Bond wrote:
There were somewhat different contexts for the various existing consumer
regs, most dating to the late 1960s when credit was often too scarce for
poor people, hence by 1977 a Community Reinvestment Act came which
encouraged ghetto lending (though it had no teeth and only in
Thatcher became Prime Minister in May of 1979; Carter appointed
Volcker
Fed Chairman in August. The latter would perhaps be as good a date as
any for the beginning of the worldwide capitalist offensive.
Carrol
CB: Actually, imperialism retreated in 1979 , when Carter allowed the
The cleanest and most efficient way to regulate lending would be a
universal ,i.e. federal usary statute, a prohibition on interest rates
above, say, 4%. Make it a misdemeanor for the first two offenses. Then
on the third strike, it's a felony. We can play this third strike game
too.
( I pick
Jim Devine
agreed. I think, however, that the phenomenon is bigger than
Reaganism. It's part of the world-wide neoliberal policy revolution,
led not only by Reagan but by Thacher and Pinochet.
^^^
CB: I agree. I tend to focus on straightening out these united states,
first.
Carrol Cox [EMAIL PROTECTED] 12/20/2007 4:27 PM
Thatcher became Prime Minister in May of 1979; Carter appointed
Volcker
Fed Chairman in August. The latter would perhaps be as good a date as
any for the beginning of the worldwide capitalist offensive.
Carrol
CB: However , the attack on
Carrol Cox [EMAIL PROTECTED] 12/20/2007 4:27 PM
Jim Devine wrote:
agreed. I think, however, that the phenomenon is bigger than
Reaganism. It's part of the world-wide neoliberal policy revolution,
led not only by Reagan but by Thacher and Pinochet.
Thatcher became Prime Minister in May of
Charles Brown wrote:
The cleanest and most efficient way to regulate lending would be a
universal ,i.e. federal usary statute, a prohibition on interest rates
above, say, 4%. Make it a misdemeanor for the first two offenses. Then
on the third strike, it's a felony. We can play this third
On Dec 20, 2007, at 10:48 PM, Patrick Bond wrote:
Very eloquent summary, Julio, which is excellent but for the lack of
attention to the overaccumulation dynamic. Doesn't that feature in
your
story? (That's also where Sam, Leo, Doug, Giovanni and a few others
depart from the crisis theorists.)
Julio Huato wrote:
I always wonder why, if communism is dead (except, says Greenspan, in
North Korea, Zimbabwe, Cuba, and Venezuela), they need to keep beating
the corpse.
because the neoliberal slogan There Is No Alternative, when
translated into Borg, becomes Resistance is Futile.
Charles Brown wrote:
The cleanest and most efficient way to regulate lending would be a
universal ,i.e. federal usary statute, a prohibition on interest
rates
above, say, 4%. Make it a misdemeanor for the first two offenses.
Then
on the third strike, it's a felony. We can play this third
Patrick Bond
Very eloquent summary, Julio, which is excellent...
^^^
CB: ditto
Me:
the problem is that there are ways of getting around such caps via
creative contract-writing.
CB: We know. We lawyers , too. All we do is outlaw the creative
contract-writing.
abolish lawyers?
Put it this way. We just look at the bottom line. If more than 4% goes
to the lender in the
Jim Devine
Me:
the problem is that there are ways of getting around such caps via
creative contract-writing.
CB: We know. We lawyers , too. All we do is outlaw the creative
contract-writing.
abolish lawyers?
^^^
CB: Except for Fidel
^
Put it this way. We just look at the bottom
Julio Huato wrote:
I don't know what
this over-accumulation story is about. Would you summarize it for me?
This may be totally off target, but it seems to me that -- contingent
on time, place, area of the economy -- capital is alternatively
over-accumulated and under-accumulated with
The current issue of the Nation Magazine has an extraordinarily long
article titled “Western Promises” that accuses the Western imperialists
being soft on the late Slobodan Milosevic and other Serbs. It was
written by Marc Perelman, the diplomatic correspondent of the Forward, a
Doug Henwood wrote:
But, I gotta say, I'm not sure what you mean by overaccumulation
here. Is it just another way of saying that capitalism periodically
overinvests, and has to work that off over time? If so, then that's
little more than a theory of the business cycle. Are you making a
The recent PEN-L discussions on subprime mortgages, microcredit and
other mechanisms of credit to poor people reminds me of a unique
institution called the chit fund that I witnessed a lot growing up
in a small town in south India.
It works like this: a group of around a dozen people get together
NY Times, December 21, 2007
News Analysis
A Revisionist Tale: Why a Poor China Seems Richer
By KEITH BRADSHER
HONG KONG — Should China be treated differently because it may not be so
rich after all? That is one of the central questions raised by new
calculations from the World Bank that
Jim Devine wrote:
While there can be sectoral over- or under-accumulation, there can be
macro-level over-accumulation, too, which then leads to something
which might be called under-accumulation but that term seems
confusing. (the idea of alternating under- and over-accumulation in
different
okay.
On Dec 21, 2007 3:56 PM, Julio Huato [EMAIL PROTECTED] wrote:
Jim Devine wrote:
While there can be sectoral over- or under-accumulation, there can be
macro-level over-accumulation, too, which then leads to something
which might be called under-accumulation but that term seems
The United States Puritanical values collided with its neoliberal ideology in
passing
a law that prevented online gambling. Several companies -- Microsoft, Google,
Yahoo
-- just paid fined for posting ads for Internet gambling. Antigua and Barbuda
protested since the US allows other forms of
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