[lbo-talk] Empire And The Capitalists: Not In One Accord?

Wojtek Sokolowski sokol at jhu.edu
Mon May 19 13:22:13 PDT 2003


Doug:
>
> He's got a point. But: 1) Roach's view is a minority on Wall Street,
> 2) I'm not sure Soros, Buffett, and Gates are representative of the
> U.S. ruling class, and 3) I think he exaggerates U.S. economic
> weakness - who's doing better?
>

Do not the decline of the dollar vs. the euro, the bearish stock market and the low interest rates make the US less attractive for foreign investments? And if foreign investment substantisally falls, the US economy is likley to enter a tailspin, no?

PS. Just came back from Europe. One observation is that one can see that Western European countries are wealthy with one's own eyes - while in the US one has to read about that in a paper - for the unsightly urban landscapes of Baltimore and other major US cities create an impression of the third world rather than the world superpower. Methinks Europe is doing great (measaued by their material product) and have a room to expand, whereas the US has only one way - down. Aftar all, what does the US produce other than printing greenbacks for the world trade?

Wojtek



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