Last night I did a little late night surfing over to Russia and visited the Leningrad(St. Petersburg) website of the "real thing" RCP. They describe themselves as Marxist-Lennist-Stalinist. Ok. We have all seen their leader Mr.Z(how ever you spell his last name) on TV. Now catch this according to the website no Russian leader can solve the problems of Russia including their own Mr. Z(how ever you spell his name). I thought this is a breath of fresh air.
On the down-side of things they have dusted off all their old slogans from 1917. Which roughly read somthing like, Mom, Apple Pie and Uncle Joe. If you read them with a sense of humor. Possibly the RCP should consider hiring a good American pr firm or maybe Al From might be available for a consultation. I can just see it Comrade Al does the Kremlin.
On more serious things...consider the impact of entry onto world markets by Russian industries. We can see it in steel and we will see it in other things sooner rather than later. Regardless of the political leadership of any of the olde "socialist" countries; how are you going to keep them down on the collective farm once they've seen Columbus.
Sincerely, Tom L.
Rakesh Bhandari wrote:
> >>Yet, just as the ascent of manufacturing
> >>profits was key to the stock market's vertiginous rise, the fall in
> >>manufacturing earnings cannot but bring the stock market boom to an end,
> >>
> >Thanks Charles. What a lovely thing to say
>
> Hi sly Paula,
> I think Charles is quoting Brenner here. But following the 1929 logic of
> Henryk Grossmann, stock market booms always outlast the production boom
> because dividends are still being paid on the boom period; not only is this
> case,, but when the production boom has passed its peak and the decline has
> begun, money not needed for the productive process is added to the volume
> of money already in use on the stock exchange, and being directed to make
> further profits, pushes up share prices still higher. The apex of the stock
> exchange boom is therefore reached later than the point at which the
> decline in actual production has begun. Greenspan must of course be worried
> that his new easy credits will not find their way into production but
> speculation because in a crisis of overproduction, money can only produce
> gains on the stock exchange. So despite all those bad earnings reports, I
> don't think Brenner should pull his money out of the stock market quite
> yet. He may be able to ride it to 10,000 before the bust.
> best, rakesh