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

Carrol Cox cbcox at ilstu.edu
Tue Dec 6 18:53:48 PST 2005


Dennis Redmond wrote:
>
>
> 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.

Not if German armies from North Africa & Russia had met Japanese Armies in India!

And that seemed at the time to be a very real possibility. I wish I had a tape of the news cast by a certain Gabriel Heater on the eve of the Battle of El Alamein. He always started his newscast with either "It's good news tonight folks" or (more often in the first year of the war) "It's bad news tonight folks." And in that particular occasion "It's bad news tonight folks" came out with its greatest vibrations ever.

Incidentally, the Russians defeated the Germans in a tank battle involving, I think, 10,000 tanks total and lasting about 3 days.

Carrol



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