continuing my project of asking naive questions:
do you (anyone) think that the bail-out is a new phenomena/strategy? i'm thinking of how the world bank recently bailed out some national banks (i can't exactly remember which country), this being, heralded at least, as a significant shift in the world banks' approach, with all sorts of talk about it contravening the world banks' charter....
so, i was wondering if there is now very little possibility that any national economy, or national banking system, will default. that the important distinction (from the perspective of capital accumulation generally) between individuals, small companies, even bigger companies, etc defaulting, and national banking systems doing so, has been asserted in a way it was not previouly.
no doubt there are problems with this formulation, so i'm pitching it out there for anyone to tell me where this story is wrong.
angela