>I don't get it, Rakesh. One day you're talking about U.S. industrial
>dominance, and the next day you're talking about catastrophe. Which
>is it?
To the extent that the global economy settles into slow growth and the financial madness and panic to which that gives rise, it is possible that a few industries and more specifically crucial bits of them will be able to stave off falling profitability for some time at the expense of other capitals. It seems to me that these firms are concentrated in the US industrial structure and they may have even have some spillover effects on the rest of US business. But ultimately their fate will be determined by the general global business situation the prospects of which are bleak especially given the fact that expansionary fiscal policy probably won't and can't be pursued again within the capitalist system.
Yours, Rakesh