> Yoshie Furuhashi wrote:
>
I agree with Gowan on the US capitalist empire
having been in the self interest of all the ruling power elites on the globe.
What I
wonder about is whether we may not be in for
the kind of crisis that cannot be managed by usual economic instruments at the
elites' disposal, for all the central bank interventions on behalf of the
dollar regime that the empire can enlist. Then, what we are left with is "a
military emergency."
I'm not sure I follow how we get from a recession to a militarily managed crisis of the dollar. I've read a lot "orderly" (or disorderly) corrections to dollar overvaluation, but are you imagining that this will mean that, say, oil won't soon be invoiced in dollars? (Imagined that way, we're already _at_ a militarily managed crisis of the dollar--ie Iraq.) Or that soon the euro will be the world's reserve currency? But who is willing to let their manufacturing sector wither so that they can be consumer of last resort?
I guess I'm not following what you mean by an unarticulated connection between economic and politico-military.
Christian