[lbo-talk] The Empire's Freedom

Michael Hoover hooverm at scc-fl.edu
Fri Nov 4 19:55:42 PST 2005



>>> dhenwood at panix.com 11/04/05 12:14 PM >>>
The ruling class hated the 1970s because it thought it was in danger of losing the class war, or at least failing to win. That was the reason for Volcker and the recession of 1980-82. Doug

ah yes, that 'crisis of democracy' claptrap, as sam huntington (was he still on cia payroll at that time) asserted, problems stemmed primarily from too much popular participation & excessive expectations...

re. volcker, lest anyone forget that he was carter appointee, part of dem pitch to right, great idea - economic austerity, cut budget areas of constituencies, jack up military spending, be like rep party, voters will turn out in favorable droves...

btw: i recall reading somewhere that volcker contributed money to kerry campaign, dem faction of 'ruling class' includes certain investment bankers, urban real estate developers, hollywood moguls, a veritable egalitarian base... michael hoover

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