[lbo-talk] Fiscalopolypse ?

[Michael Dawson]

I totally agree with Doug.  This is a $12 trillion dollar economy, with an
85 percent capacity utilization rate (vs. a 144 rate in 1943), and 50
percent of "economic" activity being dumped into pure waste, such as SUVs.
The margin for absorbing crises is huge, and people who want an easy answer
through some collapse story are wasting our time.  We will continue with our
low-intensity depression, unless and until people like us propose ways to
solve this, and manage to escape the DP being the only option in town.

Memento Mori.

-----Original Message-----
From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org]
On Behalf Of Doug Henwood
Sent: Sunday, September 12, 2004 2:25 PM
To: lbo-talk at lbo-talk.org
Subject: Re: [lbo-talk] Fiscalopolypse ?

ira glazer quoted:


>Yet whoever wins the 2004 race will become the first U.S. president 
>to confront what sober-minded experts across the political spectrum 
>describe as an impending "fiscal catastrophe" lying right around the 
>corner.

Not really. The 'crisis' isn't really a crisis, and even according to 
those who say it is, it's decades away. The austerity party is 
mobilizing again.

The short-term problem is that the boy president cut taxes on rich 
people, and the economy kinda stinks. It's not much more complicated 
than that.

Doug
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