On Feb 24, 2009, at 2:56 AM, Patrick Bond wrote:
> Yes, sustained overaccumulation in the US manufacturing sector is to
> blame for subsequent periods of relatively low investment. We've
> been saying all these things for some time - are you just getting it
> now, Doug? Join us!
This is preposterous. The U.S. manufacturing sector has been shrinking in relative terms for decades. A lot of Marxoids will tell you that's the fundamental problem - there's no real value production, just unproductive stuff like retail and finance. Now we learn that there's too much capital in manufacturing.
Doug