[lbo-talk] Obama's Wall Street ass lick: cause and effect

[dredmond at efn.org]

On Thu, February 11, 2010 4:30 pm, Julio Huato wrote:


> So, maybe risk (3) is not apparent to Obama, because there's no left,
> no Soviet Union, no serious union movement, etc.

But there is indeed a counterweight, namely the global semi-periphery.
(The EU never quite fulfilled this role, due to its own Euroliberalism and
Maastricht monetarism, while Japan was always too small and
export-dependent to rein in the US).

The semi-periphery finances the US economy these days, and its
developmental states keep getting stronger, bigger, and smarter. My best
guess (of course, I could be wrong) is that BRIC 2.0, the next generation
of developmental states, is about to go live in places like Indonesia,
Ukraine and parts of Central Asia.

-- DRR