Current Downturn???

[Carl Remick]

I've been waiting all day for a reply to the thoughtful post below, which 
has been buried in endless blubbering about the agonies of academic life.  
Academics, please, pull your heads out!  Most of the exploitation now 
occurring in the world is actually happening *off* campus. It's called 
capitalism; you may have read about it in the newspapers.

More and more, the LBO list strikes me as the Holy Roman Empire of 
listservs, being neither really leftist, nor concerned with business, nor 
particularly observant of what's happening in the world right now.

Carl


>From: "mike" <mike1947_02446 at hotmail.com>
>Reply-To: lbo-talk at lists.panix.com
>To: <lbo-talk at lists.panix.com>
>Subject: Current Downturn???
>Date: Wed, 21 Mar 2001 08:33:02 -0500
>
>Whats peoples thoughts for the prognosis of the intermediate term of the 
>economy.
>Is the 70% drop in the NASDAQ due to a economic bursting bursting or do 
>they mirror some more important long term secular trend.   Is the 
>accumulated levels of consumer debt necessitating forced savings and   is 
>this causing considerable problems on the demand end of the economy?
>Has the redistribution of wealth upward starved spending in the economy and 
>are we going back to the usual pattern of more money for the top 1%, 
>stagnation for everyone else.  Is foreign investment
>drying up because of better opportunities elesewhere producing considerable 
>capital outflows?   I
>Is the high real interest rates starving investment?   What are the 
>positive economic signs in the
>intermediate term for preconditions for meliorating the skewed distribution 
>of wealth or the
>immanent decline into recession.
>                         --mike

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