<html> <DIV> <P><BR><BR></P></DIV> <DIV></DIV> <DIV></DIV>>From: Doug Henwood<DHENWOOD@PANIX.COM> <DIV></DIV>>Reply-To: lbo-talk@lists.panix.com <DIV></DIV>>To: lbo-talk@lists.panix.com <DIV></DIV>>Subject: Re: > Scaife 'n' Snitch (and the Hitch) <DIV></DIV>>Date: Wed, 18 Apr 2001 09:36:51 -0400 <DIV></DIV>> <DIV></DIV>>Rakesh Narpat Bhandari wrote: <DIV></DIV>> <DIV></DIV>>>I don't look at things the way someone like he does. Moreover, I <DIV></DIV>>>think elite support for a free trade is largely a sham--look at the <DIV></DIV>>>free trade act with Africa. Did the US open up its markets? <DIV></DIV>> <DIV></DIV>>Are you seriously arguing the U.S. isn't open enough to trade? How <DIV></DIV>>do <DIV></DIV>>all those computers, shirts, cars, and winter strawberries get here <DIV></DIV>>then? <DIV></DIV> <DIV></DIV>> <DIV></DIV> <P>>Doug</P> <P> </P> <DIV></DIV> <DIV></DIV> <P>Overtrading in the internal component of the world market (the industrial "trinity" of US, EU, and Japan) is complemented by undertrading in the external component of the world market, the non- or semi-industrial nations politically attached to one or other of the "holy trinity." How is the U.S. going to "pay the piper" for its overtrading in means of subsistence (reflected in current account deficit)? It is overtrading only because of limitations imposed by private ownership of the commodities produced, not because the products themselves are not needed for consumption.</P> <P> </P> <DIV></DIV> <DIV></DIV>GRS <DIV></DIV><br clear=all><hr>Get your FREE download of MSN Explorer at <a href="http://explorer.msn.com">http://explorer.msn.com</a><br></p></html>