Doug Henwood wrote: > > On Apr 22, 2008, at 9:20 AM, Doug Henwood wrote: > > > And the government - which means governments worldwide, I'm > > guessing - have been intervening in financial crises for 30 years > > at least. This isn't controversial anywhere except among the > > nuttier Austrians. In fact, the saying on Wall Street in the 90s > > was "bailouts are bullish." They love 'em. > > And I should have also said: what's controversial is whether it's > going to work this time. That's not clear yet. >
A Depression does not have to resemble the 1930s; the world always has surprises for us. There could be a devastating depresion -- discovered not by those who lived through it but by historians looking back. In any case, a depression would not be of immediate political impact;, except to further individualize working people. After 4 to six years (providing the political structures were there at the local level) resistance would begin to blossom. Carrol _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
