^^^^ CB: I don't know if I am accurately paraphrasing Hudson's thesis. Are you familiar with _Super-Imperialism_ ?
>>>>>>>>> No, I haven't read S-I.
Don't they hold "loan notes" ? The idea is they can't get all their money without breaking the system , pulling the building down on themselves, I think. I'll try to find a summary.
>>>>>>>>>> They hold bonds. Yes if they tried to dump them all at once
they would take a bath, but there is no reason for them to do that. The
imbalance is a problem for both sides, but less for them than for the U.S.
Our friend Barkley says the politics there is unstable -- class struggle
brewing -- so an export crash on their side could bring some serious
eruptions.
^^^^^^
IMO NF exaggerates the US budget problem.
^^^^ CB: You're a deficit spending, Keynesian type-a-guy anyway, no ?
^^^^^^
>>>>>>> Yup.