Re: Fw: [stop-imf] Africa should not pay its debts - Jeffrey Sachs

[Waistline2]

In a message dated 7/10/2004 1:11:33 PM Central Standard Time, [EMAIL PROTECTED] writes: Really?  That's quite an aberration-- participating in the dismantling of the Russian Revolution, transforming  the remnants of socialized property into private fortunes.   And now Sachs got religion?  Yeah right, him and O'Neil.  Save us from the basically good blokes and we can handle the rest.   Comment   Correct again . . . to suggest that my debt be suspended because I have proven that I cannot and will not pay it is hardly radical . . . which was my real point. Africa really does not have a debt problem . . .  the financial institutions - capital, have a debt problem.   This "thing" about the absolute general law of capitalist accumulation is . . . interesting. We are facing perhaps the greatest polarization between wealth and poverty in human history as the absolute _expression_ of the absoluteness of capital accumulation . . . in America . . . not overseas or somewhere else and apparently this is not understood.   The industrial reserve army of unemployed belongs to another period of history - when the industrial system is in ascendency and the population is being converted into modern proletarians. The population of America is not being converted into modern proletarians but facing an absolute reduction in real wages that has been taking place for a solid thirty years. They were already proletarians.   Perhaps it will take another ten years or so to understand that we are dealing with a different set of factors generated as the absolute _expression_ of the absoluteness of capital accumulation in America . . . not overseas or somewhere else. Seems to me that two sets of factors obscure what should be obvious. Monetary policy as US dominated exchange and debt structure . . . the printing of worthless money and the low wage structure in areas like China that allows that labor embodied in their commodities to fall faster than the real wages of the American consumer. This is not to say . . .  it is China's fault . . . but rather the absolute _expression_ of the absoluteness of capital accumulation.   And of course the low wages of the workers in China do not appear in the pay envelop of the American workers. What the American workers get is Wal Mart while their wages drift to the bottom or towards zero and not away from zero. And yes . . . China is currently hitting the wall as the absolute _expression_ of the absoluteness of capital accumulation . . . not the scrabble for "natural resources" and population matters.    Securing oil reserves will save no one  . . . which is why Putin is burning the midnight oil. Nothing short of proletarian revolution in Russia promises even a glimmer of hope no matter how many "gangster capitalists "Putin steps on. I simply enjoy seeing capitalists jailed under any pretext.  Why we always have to be the only ones in jail . . . although I enjoy your jail house rap.   Billionaires in Russia . . . China . . . America is of course the absolute _expression_ of the absoluteness of capital accumulation . . . while the soup kitchens grow in America, and these are working families . . . not the industrial army of reserve of one hundred  . . . no . . . fifty  . . . years ago.   Social revolution does not require our working class to be reduced to the level of the India peasant of the past.   "What is taking place is the first wave of political assertions of the real social revolution," means the bourgeoisie response to debt. Liquidating debt means you have a chance to accumulate it again . . . as the absolute . . . .   Melvin P