Babylon vs Babylon

Dennis Robert Redmond dredmond at efn.org
Tue Jul 23 18:23:31 PDT 2002


On Tue, 23 Jul 2002, joanna bujes wrote:


> >That, and a mongo Euro-bailout.
>
> We bail them out? They bail us out?

Be careful of that "we". The Ameribourgies owe the Eurobourgies 1.3 trillion EUR. All credit-lines lead to the Eurobanks these days, so the question is, does the ECB roll over the debt or simply pull the plug. They bailed out Korea and Russia, so there'll be a rollover, at the price of considerable ugliness in the currency markets.

By service-sector radicalism, I mean that the micropolitical infrastructures built up over the past 30 years are going to be radicalized. Sort of like Ralph Nader. Neoliberalism, meet nanosocialism.

-- Dennis



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