budget assumptions/imperialism

[Max Sawicky]

>>
Max is right to insist on numbers. Moseley provides empirical support for
the critical role capital inflow has played in the prolongation of the US
upturn in both his recent Capital and Class and Monthly Review analyses,
>>

Is Moseley's stuff available on the web anywhere?
I couldn't find anything at the MR or C&C sites.


>>
As for the advantages from seigniorage . . .

"For the US, seigniorage gains still acrrue from the use of dollars
oversea. Consider just the foeign circulation of US banknotes alone, which
as we know has been conservatively estimated at some $250 B a
year--equivalent to rather less than 1 percent of our economy's annual
consumption, but hardly trivial.
>>

I'm not sure seigniorage is the right word for this,
but at any rate, for a yearly loan of $250b, the
interest saving at 6% is $15b annually.
Not much to hang an empire on.

mbs