Future of Keynesianism

Mark Jones Jones_M at netcomuk.co.uk
Thu Jun 25 17:07:28 PDT 1998

Dennis, I just been reading some guy from Singapore, minister of trade or sg who cleverly analyses the problem thus: Japan shd be a big imperial power what with its $20 *trillion* stash and economy 10x bigger than China and all, but it isn't coz of WW2-inspired inferiority complex; so Japan is a political zombie coz the alternative is for it to be Frankenstein's monster unleashed over Asia and it doesn't have the BALLS for that.

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

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