So don't pull my leg with this old gramophone about how the Axis is great etc, it is not: Japan's $20 tn is just a gigantic overhang, a million literally times worse than the eurodollar overhang that busted Bretton in '71. So there. Get real. Your fantasies of an Axis reprise will not come to pass. Thjis is - you're right - a crisis of US imperialism (and Guinder Frank is right too) but anyone who thinks the SOLUTION is a new tsunami of Axis virility is dreaming: the krauts can't even hack it in the former GDR, as the BIS report also shows: 4% of annual German GDP for ten years -- $800bn -- already in transfer payments etc and the result? 20% unemployment in the eastern laender and accelerating decline + fascist outbreaks. No, the future is not written like the past. US imperialism is a gigantic roadblock and no posse is on the horizon to remove it.
Read Insurrection-Interactive for more (sorry for the infomercial, but the marxism market is so saturated these days, you gotta keep on your toes).
Dennis R Redmond wrote:
> On Thu, 25 Jun 1998, Mark Jones wrote:
> > The Japanese surplus was $97bn. The total EU surplus was $124 bn. Thus the
> > anglo-saxon deficits ($191bn) more or less match the EU/Japanese surplus
> > ($221bn). Most of the Asian ex-tigers showed deficits.
> Aren't the Eastern Europe countries also running huge deficits with the
> EU? Come to think of it, their currencies haven't been looking so hot
> recently, either. One, two, many bubbles...
> -- Dennis