[WS:] They are still counting on the plutonomy, no? Furthermore, there is a lot of room for middle class growth in BRIC, which can pick up the faltering demand in the US and EU (or at least a good chunk of it.) The latter is not exactly a revolutionary force, so methinks that even if there is a prolonged stagflation, capitalists may not like it but they can live with it, especially if there is not much they can do about it. They will start losing sleep only if they face a realistic threat of a revolution, and I am pretty sure you agree that this threat is not very realistic at the moment.
Wojtek
On Fri, Sep 23, 2011 at 12:54 PM, Jordan Hayes <jmhayes at j-o-r-d-a-n.com> wrote:
> Wojtek writes:
>
>> [...] and the status quo will return in its full glory.
>
> The status quo isn't the status quo unless the middle class can purchase
> goods and services. When they squeezed real incomes, they offered rising
> home equity to fill the gap. I think they are out of tricks at this point.
>
> /jordan
> ___________________________________
> http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk
>