On Mar 18, 2008, at 11:32 AM, Max B. Sawicky wrote:
We could be looking at an important shift in the U.S. position in
the world, in the wake of a string of bank failures and other
financial
disruptions. Maybe a Japan-style ten year slump, or maybe worse.
Anti-recession measures are all to the good, but it seems to me that
politically the 'teachable moment' is the fundamental rottenness of
financial market
governance (delivered with suitably purple rhetoric). Capital
allocation is
deeply screwed up. It's basic.
Max, Doug (and others!),
a question: with the possibility of McCain or a Democrat coming to
power and some of the excesses coming under regulation and some chance
of a return to honour among thieves, and the fact [?] that corporate
profits continue to ride high, can an uptick in corporate investment/
spending make a difference?
--ravi
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