The bourgoisie worries about the Japanization of the US econo my

Daniel Davies d_squared_2002 at yahoo.co.uk
Thu Mar 29 22:29:14 PST 2001


--- Seth Ackerman <SAckerman at FAIR.org> wrote: > Doug Henwood wrote:
>
> > Like I said before, though, one big difference is that the
> BoJ kept
> > raising rates for over a year after the Japanese stock
> market peaked
> > on the last trading day of 1989; the Fed has been easing
> pretty
> > aggressively.
> .
>
> We'll see if that continues to be the case in the event the
> dollar takes a
> major hit.
>
> Seth
>

More like -- we'll see if that continues to be the case in the event that the dollar *doesn't* take a major hit. Whatever the solution is for the US economy, it shurely has to involve a sharply lower external value of the greenback, given the current a/c deficit. After all, what's the point in _being_ a global hegemon if you can't use that muscle to carry out the odd inflation-default from time to time?

dd

===== For the stronger we our houses do build The less chance there is of being killed

-- William McGonagall.

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