[lbo-talk] Wall Street Joins Global Stock Plunge After Fed Move

[c b]

On 9/22/2011 8:37 AM, Doug Henwood wrote:
>
> On the second, I don't believe that the capitalist class wants to extend the crisis. In Britain, Cameron& Osborne seem to have really believed that cutting budgets can be stimulative. I think a lot of Reps here believe that. They're wrong, but that is their sincere belief.

It will be interesting to see what happens when reality whups them
upside the head with a 2 x 4.

Miles

The contradictions inherent in the movement of capitalist society
impress themselves upon the practical bourgeois most strikingly in the
changes of the periodic cycle, through which modern industry runs, and
whose crowning point is the universal crisis. That crisis is once
again approaching, although as yet but in its preliminary stage; and
by the universality of its theatre and the intensity of its action it
will drum dialectics even into the heads of the mushroom-upstarts of
the new, holy Prusso-German empire.

Karl Marx
London
January 24, 1873

http://www.marxists.org/archive/marx/works/1867-c1/p3.htm