"Wake-up call sounds for U.S. workers"

Dennis Robert Redmond dredmond at efn.org
Fri Aug 16 16:40:07 PDT 2002


On Fri, 16 Aug 2002, Michael Pollak wrote:


> I don't understand -- whence this idea that Sweden has big problems?

It doesn't, of course. But Sweden did go through a nasty stretch in the early 1990s, due primarily to a proto-Thatcherite deregulation/bubble boom/bust of the real estate market. They had to nationalize the banking system and devalue the kronor.

Over time, investment rates do matter, because exchange-value is something produced by real live factories, not the business plans of e-punters and the electricity scams of oil pipeline profiteers.

-- Dennis



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