[PEN-L:254] Re: No Way Out

Thanks to Louis for posting the uplifting passage from Harry Shutt. It's embarrassing to agree with Shutt's conclusions based on (seemingly) diametrically opposite premises. But I'll try. Shutt says: "According to such theories economic growth is governed by very long cycles (of fifty years or

[PEN-L:253] No Way Out

(Harry Shutt, "The Trouble With Capitalism: an Enquiry into the Causes of the Global Economic Failure", Zed Books, 1998, pp. 194-196) RETREATING TO DETERMINISM Confronted with the obstinate refusal of growth to revive, a significant number of economists and others have been inclined to flirt

[PEN-L:252] Saving public Clinton

Gar Lipow rebuts, in part: Nonsense, occasional vindictive silliness never hurt anything. I spent a great deal of time on another list having to explain why I did not want Clinton impeached by the right wing. I should have Cc'd you in my reply to Jim D (below), thus likely

[PEN-L:251] Hedge fund bets exceeded 1.25 trillion dollars

September 26, 1998 Hedge Fund's Bets Top $1.2 Trillion By JOSEPH KAHN and PETER TRUELL The speculative investment fund rescued by a consortium of Wall Street banks this week made complex bets on international financial markets with a total value drastically higher than previously estimated,