And excess capacity that knows no bounds in China, exacerbated by the recent bailout.. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Anthony P. D'Costa Professor of Indian Studies and Research Director Asia Research Centre Copenhagen Business School Porcelænshaven 22, 3 DK-2000 Frederiksberg, Denmark Ph: +45 3815 2572 Fax: +45 3815 2500 http://uk.cbs.dk/arc www.cbs.dk/india http://www.thisismodernindia.com/this_is_modern_india_about_us.html xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Thu, May 13, 2010 at 5:40 PM, Jim Devine <[email protected]> wrote: > It’s strange that Judis (and Brenner?) never mention China, which also > bought a lot of US government paper to keep its currency undervalued. > More importantly, he (they?) ignore the increasingly rightward tilt of > the distributions of income and wealth, which have created an > “underconsumption undertow” which tends to pull down the economy, > unless counteracted by such things as easy credit (Ninja loans, etc.) > > The Case for Economic Doom and Gloom > Why we’re not out of trouble yet--not even close. > John B. Judis > May 11, 2010 | 3:37 pm > > The American economy added 290,000 jobs in April, the biggest monthly > increase in four years. Clearly, a recovery has taken hold. But how > strong and buoyant will it be? Will we eventually get back to growth > rates above 4 percent and to an unemployment rate of less than 5 > percent? Or will this recovery sputter like the last one that began in > 2002? > > The strongest case for gloom that I’ve read has been made by UCLA > economic historian Robert Brenner in a new introduction that he wrote > to the Spanish edition of his 2006 book, The Economics of Global > Turbulence. New Republic readers will detect a similarity between > Brenner’s views and my own, but his are grounded in a far greater > knowledge of economic history than mine. His pessimism also outpaces > mine.... > -- > Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own > way and let people talk.) -- Karl, paraphrasing Dante. > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > --
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