Bears & Crashes

Doug Henwood dhenwood at
Tue Apr 4 13:06:04 PDT 2000

bill fancher wrote:

>Please remind me why we've all been so eagerly awaiting a stock market
>crash. How exactly will this benefit the people of the world?

I think the thinking is - and I'm not sure if I agree - is that a bear market will break the spell of market fundamentalism and American triumphalism. I don't notice a great political upsurge in Japan after 10 years of stagnation, a possible fate for the U.S. should the bubble burst. We've had an upsurge in radical political activity in the U.S. over the last several years along with - and maybe because of - the boom.


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