[lbo-talk] anxious

[Cseniornyc at aol.com]

Doug Henwood declares:" Yeah, but people have been saying things like this  
for 30 years. Know the enemy, man."
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Saying things like what?  30 years ago the US wasn't  facing twin  deficits 
approaching one trillion dollars. The financial sector was at the  service of a 
powerful industrial one instead of being the leader of  the economy as it is 
now..The economy was generating solid high wage jobs  instead of low wage 
retail/service ones. Dollar hegemony was just  beginning and the US currency 
reigned supreme .There was not serious competition  from China and SEA for global 
resources, especially oil. This is a different  kind of oil shock with farther 
reaching consequences. There were not asset  bubbles whose deflation create 
serious disadjustments in the economy, etc,etc.  So, honestly I don't know what 
do  you mean by this statement. Also, do you  subscribe to the type of logical 
reasoning such that because it rained yesterday  it follows it'll rain 
tomorrow?
Cristobal Senior

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