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This article seems quite good for the conventional corporate
media. I mentioned a couple days ago
that I thought that the biggest risk for the Bush economy comes from the
international sector. A couple of days ago, Jeff Madrick
had a nice piece in the New York Times emphasizing the importance of
cooperation in maintaining international economic health. He probably goes too far in making the
pre-Bush era seem like a time of great international cooperation. Surely the US through its way around quite a
bit before Bush, but the gung ho cowboy politics of today certainly represent a
threat to any hope of international cooperation. Maybe the The dollar dilemma seems crucial in reminding us that the
capitalist system is full of contradictions.
If you push too hard in one direction, you can bite you in the butt from
the other side. Cheap dollar help
manufacturing, but rapidly cheapening dollars threaten Michael Perelman |
