[lbo-talk] winners & losers in The Crisis

[mart]

i'm not a contrarian (i'm agnostic) but keep your options open.
 
i think a) theoretically it was predicted (there was keynes and minsky, and then there' 80's-90's JPE, AER, QJE---just flip the pages and i think there's a million models (mostly the same), and more in smaller journals).
         b) maybe they just didnt Apply the models---i don't think there is really much there, apart maybe the '7' or whatever who did it in various ways (baker, keene, hints from schiller, etc...)
       or c) maybe they just didnt publish because they used insider information for personal purposes---i can think of one such anecdote, or data point in the Cowles papers.
 
Some times i'm a utilitarian, so in such cases you must believe in an Intelligent Designer (the dude who sits in front of the security cameras for this patopticon or 'prison plan-it'. (Godel called it the 'ultrafilter' reminiscent of the elite MC chomsky.)  At these times, the whole thing was according to plan.  I mean, who lost when lehmann collapsed?  i personally dont know. 
 

--- On Tue, 9/22/09, Sandwichman <lumpoflabor at gmail.com> wrote:

From: Sandwichman <lumpoflabor at gmail.com>
Subject: Re: [lbo-talk] winners & losers in The Crisis
To: lbo-talk at lbo-talk.org
Date: Tuesday, September 22, 2009, 1:26 PM

"Sadly true?" A house of mirrors. According to the American
rabble-rousing right, Obama is a communist. Objectively speaking,
Sarkozy and Merkel are to the "left" of Obama on economic growth (S)
and employment policy (M). The terms "left" and "right" appear to have
entirely different meanings as self-identity or projection. What
exactly is the "left-wing, anti-capitalist and anti-globalization
movements"? Right and left are images projected by financial sponsors.
If a Rupert Murdoch doppelganger suddenly materialized with the notion
of promoting a proletarian revolution, I'm sure the fat lady would
change her tune.

Not that it would have anything to do with the real politics of
getting up every morning and going to work.

On Tue, Sep 22, 2009 at 7:59 AM, Doug Henwood <dhenwood at panix.com> wrote:


> [What he says about the left is sadly true. Of course it's possible that the
> fat lady hasn't started singing yet.]


> Four: The right over the left. The credit crunch was probably the perfect
> moment for left-wing, anti-capitalist and anti-globalization movements to
> make their mark.
>
> The result? The left looks like it is running on empty tanks. Center-right
> parties will remain in power, as in Germany or France, or recapture it, as
> in Britain. And it will stay that way for a long time.


> (Matthew Lynn is a Bloomberg News columnist. The opinions expressed are his
> own.)

-- 
Sandwichman
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