DOUG HENWOOD
>Hmm. The petty bourgeoisie, many of whom are debtors, are reliably
Republican. The National Association of Manufacturers, also mostly
Republican, is a leader of the weak dollar
>lobby. How many times did
Robert Rubin say that a strong dollar was in the interests of the U.S.?
Most of Wall Street - aside from the right-wing hard money nuts in the
Jim Grant circle
>- supports QE2.
JOHN GULICK
I'm no subscriber to the alarmist notion that capitalist globalization has utterly wiped out the US manufacturing base, but it has been somewhat eroded in the last 10 years, after making something of a comeback since the Plaza Accord was enacted. Who are the heavy hitters in the NAM nowadays?
And AFAIC this whole QE2 business presents the classic case of one having to grudgingly align with those who support the right cause for all the wrong reasons. AFAICT QE2 will just give free rein to Wall Street players to inflate asset and commodities bubbles, and to partake in ensuing currency derivatives games, worldwide.