If I am sitting on a trillion dollars of stored away dollars--more dollars than I can invest, so many dollars I turn to US private equity companies to invest them--and the dollar is due for a huge devaluation, who has a problem looming?
I suppose it could finally lead to the overdue bout of inflation and/or stagflation in the US, but the trade surplus satellites (ME, Japan, S. Korea, Taiwan, the EU) plus China (is it a satellite or not?) would seem to have the bigger problem for lack of an alternative to US financial hegemony. BTW, according to CNN, China just surpassed the US as carbon emitter superpower. Also, reading the article which was posted under this title, I do have to say the concept of 'imperialism' as used here seems largely vacuous. The crisis in Iraq isn't an acute crisis til the armed resistance in Iraq can kill enough US troops to substantially affect that occupation. There have been times when it seemed possible, but so long as the 'system' finances US militarism, the US will continue with the 10 year plan in hopes it leads to permanent occupation of a more or less divided and destroyed Iraq. And if Iraq is sufficiently 'pacified' sooner we will see the EU, NATO and the UN lining up behind the US to do the same thing they are doing in Afghanistan. C _______________________________________________ Marxism-Thaxis mailing list Marxism-Thaxis@lists.econ.utah.edu To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
