[lbo-talk] Henwood vs Bond

[Patrick Bond]

----- Original Message ----- 
From: "Marvin Gandall" <marvgandall at rogers.com>
> ------------------------------
> (From today's Financial Times, a caution directed at both the Austrian
> school on the right and the Marxist left who are again anticipating the
> popping of the latest bubble -- this time,in US real estate -- will result
> in a financial crisis and depression. The right looks to such "creative
> destruction" as a necessary condition for regenerating capitalism; the
left,
> for the development of a mass movement aimed at its overthrow. Keynesians
> like Posen expect the fallout to be managed and contained - again.)
> Bubbles are getting blown out of all proportion
> By Adam Posen
> Financial Times
> September 7 2004

Marvin, isn't the latest bubble - the massive increase in global hedge
financing, according to the new BIS report - even more worrying? Some of
Bloomberg's talking heads even attribute the oil price hike to herd
trading...