Rob on financial doom:
Don't you think you underestimate the strenght of the devaluation/inflation
medicine. It solves the debt problems. Who cares for the rentiers' net worth?
Sure, some countries' buying power depend on the strenght of the dollar... but
is it in the US natl. interest to sustain these countries now that they compete
with the USA for scarce oil?
Carrol on value:
>Exchange value by defintion is only determined when something is
>exchanged.
No. It's also determined when something similar is echanged.
>This is meaningless. Only something *on the market* can have exchange
>value.
Even if this was true, so what? There is a market for assets, incl. man-made
capital as well as natural resources.
Plus, what you say is not exactly true. There are not only spot markets but also
future markets.
Julien
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