[lbo-talk] Goldman on Greenspan & the US c/a deficit

Dennis Redmond dredmond at efn.org
Tue Dec 6 18:29:42 PST 2005


Dwayne wrote:


> So, I suspect no amount of data about the Wermacht's near total
> destruction at the relentless hands of an avenging Red Army will
> convince our Boddi that this, and not the superior "legal structure" of
> the US (creating new vistas for capital creation apparently) was the
> decisive factor paving the way for the success of the US's European
> invasion.

Well, as the Russians say, the Americans paid for the victory in money -- while Russia paid in blood.


> I suppose an
> argument could be made that the US's greater productive capacity out
> machined the Japanese

The US had an economy at least ten times the size of Japan's in 1941, plus almost twice the manpower, plus vast supplies of raw materials and huge oil reserves in places like Oklahoma and Texas. Japan could've sunk the entire US fleet in 1941, but the ultimate result would have been exactly the same.

-- DRR



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