Dog bites man

[pms]

I disagree about the owners of capital being the big losers.  At least US
BIG capital.  I think the real money sold all the way up. I've gotten out of
the tech stocks at the right time,  a coupla times in the last few years,
simply because I ran across reports that while money flows into money market
funds were net negative, the institutional money was flowing IN.  I also
suspect that US treasuries have seen the very largest holders liquidating as
the general public has moved into bonds.  And when I look at price/vol
charts of gold stocks it's truly amazing that when the market was still
looking like a dead market, at the very bottom, the volumes were the
highest.  Speaking of glitter, the action in silver is rather shocking.
Even as gold had a big correction, silver moved ahead.  Everyone is very
confused because relationships between the two metals, the general market
and the USD,  which have been in force for many, many months, years in some
cases, totally went hay-wire last month.  Interesting times indeed.
----- Original Message -----
From: Joe R. Golowka <joeG at ieee.org>
To: <lbo-talk at lists.panix.com>
Sent: Wednesday, July 10, 2002 12:43 AM
Subject: Re: Dog bites man


> > The corporate scandals concern widespread theft of capital by corporate
managers. These managers
> have used their position to transfer wealth from shareholders (owners of
capital) into their own
> pockets by various fraudulent means.
> >
> > Naturally enough, the original owners of the capital are not pleased.
But the fuss has nothing to
> do with protecting the right of the public to control the economic life of
the nation, a right the
> public has never had under capitalism. It is rather about protecting the
rights of owners of capital
> to from fraudulent usurpers.
> >
>
> In other words, class struggle between coordinators and capitalists.
>
> --
> Joe R. Golowka
> JoeG at ieee.org
> Anarchist FAQ - http://www.anarchyfaq.org
>
> "If the Nuremberg laws were applied today, then every Post-War American
president would have to be
> hanged."  - Noam Chomsky
>
>