On Feb 11, 2012, at 11:51 AM, Carrol Cox wrote:
> But whichever formula we take, I think my central point remains: The
> 'system' was and to too large an extent brilliantly successful. There was no
> flaw, fatal or otherwise. It workds.
I completely agree. It was a very successful strategy for 30 years. It's now run into a brick wall, though, and they don't have another strategy but more of the same, and I don't think it's going to work this time. Maybe I'm wrong. It won't work economically because we can't go through another round of massive leveraging, and it won't work politically because too many people are fucking sick of it.
Doug