Hard to know...

[Greg Nowell]

Doug's comment about the current crisis is to the
point.  Hard to know whether this is analogous to the
sharp brief crisis of 1907 or something more
protracted.  If lots of problems go away because more
liquidity is offered (cf. my Hilferding post of a few
days ago, and kudos to Rakesh, though I wonder if my
hint with the page number of the cite may have helped),
then we may be talking about "kinks" in the "usual
system" (of low wages and getting screwed, etc.) rather
than an attack on social fundamentals (as suggested in
a summer issue of Le Monde Diplomatique, which s.o.
posted in English on this list).

I told you all that if I took money out of the stock
market it would skyrocket.  I'm an infallible contrary
indicator.  -gn.
--
Gregory P. Nowell
Associate Professor
Department of Political Science, Milne 100
State University of New York
135 Western Ave.
Albany, New York 12222

Fax 518-442-5298