[lbo-talk] recession severity

Eric rayrena at realtime.net
Thu Jan 24 20:19:32 PST 2008



>On Jan 24, 2008, at 3:17 PM, Steven L. Robinson wrote:
>
>> Which begs the question, what sectors will offset construction and
>> mortgage finance" Certainly not tech - at least here in the SF Bay
>> Area- with the layoffs from Yahoo.
>
>Not much. I'm guessing collection agents and repo men are pretty
>small sectors.

When the Green Revolution hit with a vengeance early last year, I thought the capitalists thought it was the answer. I guess that hasn't work out so well.

I keep thinking of something George Caffentzis wrote during the runup to the Iraq war: the problem that the war was trying to solve was that neoliberalism was dead -- killed by, among other things, the dotcom bust and the worldwide resistance it (neoliberalism) was encountering -- but there was no economic system waiting to take over for it. The Bushits, nostalgists that they are, saw an oil-led profitability recovery as the way to reinstate neoliberalism by, among other things, spreading it to some of the previously exempt geographical regions and and economic sectors. (I'm "quoting" from memory, so I might have some of the details wrong.)

I wonder if perhaps this is the crisis that produces neoliberalism's successor.



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