[lbo-talk] there can be no bailout.

Dmytri Kleiner dk at telekommunisten.net
Wed Oct 1 02:15:39 PDT 2008


On Tue, 30 Sep 2008 16:36:15 -0700, "boddi satva" <lbo.boddi at gmail.com> wrote:


> This is silly Calvinism.

No, it's reality.


> There's a word for "generalized frugality". That word is "poverty".
>
> Villagers in Sierra Leone have a very small carbon footprint.


> What American provides to the world is money. It has simply failed to
> provide the world with enough money.

Money is a debt instrument, it has no intrinsic value. What America was able to provide the world after WWII was //stable// money. Those days are over.

-- Dmytri Kleiner editing text files since 1981

http://www.telekommunisten.net



More information about the lbo-talk mailing list