Full employment upon us!

in the face and they won't listen. Here's what passes for consensus thinking in the bond pits and on the trading desks: Clinton is a socialist, the economy is too strong, and the Fed should squeeze. For this, people "earn" six and seven figure salaries. Doug Doug Henwood [[EMAIL PROTECTED]] Lef

1994-02-07 First Release of Budget Using CD-ROM Technology (fwd)

For those who don't subscribe to the White House PR machine Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) -- Forwarded message -- Date: Mon, 7 Feb 1994 18:46-0500 From: The White House [EMAIL PROTECTED] To: [EMAIL

Re: Carving Up the Superhighway

Irrelevant personal detail: [Nick] Negroponte is the son of John N, who [allegedly] supervised torture in Brazil in the 1960s for the CIA and who, as ambassador to Honduras, supervised part of the contra war in the 1980s. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020

Re: on urban violence (fwd)

The US is one of the least densely populated countries in the world, yet it's one of the most violent. NYC is our most densely populated city but its violent crime rate is lower than the overgrown suburbs called Dallas and Atlanta. Can't be density, can it? Doug Doug Henwood [[EMAIL PROTECTED

Re: query re: Cdn. foreign debt

Of course I know that Canada is a rich country, not a Third World one. Do I have to state the obvious before drawing the parallels between Canada and the Third World, though? Maybe I'm too fond of economy in expression, but it didn't really seem necessary. Doug Doug Henwood [[EMAIL PROTECTED

RE: on urban violence (fwd)

of the United States, forthcoming from Simon Schuster this fall. Apologies for the self-promotion, but such are the pressures of commerce. Apologies too for any formatting oddities. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St NY NY 10024 212-874-4020 (voice) 212-874-3137

Karl on Krisis

Somewhere - I think it was the Grundrisse - Marx said there is no such thing as permanent crisis. Now I can't locate the quote. Can anyone help me out? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax)

RE: Karl on Krisis

Thanks a million. So where does that leave the Monthly Review school and their theories of permanent/irreversible/etc. crisis? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On Sat, 19 Feb 1994, Michael Lebowitz wrote: In Message Sat, 19

RE: Karl on Krisis

it thrives on overcoming crisis rather than being crippled by it); politically, because waiting for a terminal crisis encourages a fatalistic passivity that is almost religious in its teleological power. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874

Re: Interest rates and politics

f the late 80s-early 90s, it was served by low rates. In both cases, the coupon-clippers' bacon was saved. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On 21 Feb 1994, Paul Cockshott wrote: Trond asks what is the difference between an econo

Re: interest rates

nicknamed Certificates of Confiscation. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On Thu, 24 Feb 1994 [EMAIL PROTECTED] wrote: Jim Devine wrote: Behind this were the limits set by class society: interest rates couldn't rise so far

Re: Karlos and Interest Rates

last thing on the Fed's mind. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax)

Re: Carving Up the 'Superhighway'

Actually parentage has more than a little to do with the transmission of social power. I confess to being coy about the "irrelevance" issue. Sorry. In the future, I'll be more heavy-handed. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874

Re: The New World Order/Running Shoes of Capitalism

? How too did banks keep the spread between loan and deposit interest rates high during the recent, and now apparently fading, period of low interest rates? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On Fri, 25 Feb 1994 [EMAIL PROTECTED

Re: progressive usury

boom etc. was a great spur to productivity, rather than a hindrance to real investment? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On Sat, 26 Feb 1994, Michael Perelman wrote: One addendum on usury: Marx saw that, even thought it was just

Re: interest rates

You can never trust a central banker's words. Their public statements are like inkblots - you see what you want. The bond market is baying for another round of tightening; we'll see if they get what they want. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212

Re: Karl on Krisis

of overcoming challenge are tested and possibly found wanting. The 1930s were a real crisis; the 1970s, a norm; the 1950s and 1960s, an unusally sunny period. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On Sun, 27 Feb 1994 [EMAIL PROTECTED] wrote

Re: Running further with those shoes

the trend, but what about K-Mart knockoffs? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax)

Nike, again

talking to curlew.cs.man.ac.uk: RCPT To:[EMAIL PROTECTED] 550 Unknown local user 'PEN-L%EDU.CSUCHICO.ECST.BOBBY' 550 [EMAIL PROTECTED] User unknown - Unsent message follows - Date: Wed, 2 Mar 1994 15:16:06 -0500 (EST) From: Doug Henwood dhenwood Subject: Re: Running further with those

college tuition

Someone asked about the dizzying rise in college tuitions. I think there was an article on this topic in The Atlantic some months back. I haven't seen it, but I'm told it was very good. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax)

Re: current events

in Indonesia. Rothstein wants us to support Clinton's efforts. Hahahahahahahaha. Does he have evidence for this, or does it rely on faith in Clinton's inner liberal? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax)

RE: marx on money

with the borrowed money, doesn't it? If it is invested productively profitably, yes; if it goes to buy groceries or rubies, no. An awful lot of borrowing these days goes to the latter sort of spending - not to mention government spending. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer

Laura D'Andrea Say

-47 at the back of the very volume these words appear in, showing nonfarm productivity up 15.9% between 1982 and 1983Q3, and real compensation up 6.6% (a number inflated by health benefits). The contrast for manufacturing would be much more vivid. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business

Re: the aggregate demand curve

by the monetary aggregates went into financial and real estate markets rather than goods. You can call those bull markets inflation, but I don't think most mainstreamers would accept the label. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax

New system

of progress? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax)

Census gopher

Apologies if you've seen this elsewhere, but the Census Bureau is opening a gopher site later this week that should house reams of data. Its address is gopher.census.gov. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax)

Re: New system

bituated to PINE, and like all old farts, reluctant to change. So is there some way to fill the reply field? Or can some Unix junkies offer some advice? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On Tue, 15 Mar 1994, Marshall Feldman wr

Re: bashing the FED

helm? Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax)

Re: pen and pine, again

to: field is still empty. I even upgraded to PINE 3.87 from 3.05, and saw no change. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On Wed, 23 Mar 1994, Allin Cottrell wrote: Following up on my "pen and pine" posting of about

[PEN-L:3583] Re: New Paty's...

be interesting, however, to investigate the investment practices of that local bank. Many small banks quickly sell their deposits on the federal funds market, which means that local depositors' money almost instantly joins in the global freeplay of capital. Doug Doug Henwood [[EMAIL PROTECT

[PEN-L:3581] Re: Merry Xmas, Orange County USA

On Sat, 31 Dec 1994, Jim Devine wrote: On Sat, 31 Dec 1994 09:18:13 -0800 Doug Henwood said: Jim Devine notes that the Orange County mess is to be "solved" by cutting public sector wages and services for the poor. These are the uses of crisis. This sounds a bit too conspirato

[PEN-L:3582] Re: Forwarded question

Greenpeace keeps tabs on toxic waste shipments. You could start by contacting the Washington DC office - but one hand at GP doesn't always know what the other is doing. Doug Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 212-874-4020 (voice) 212-874-3137 (fax) On Sat, 31 Dec 1994

[PEN-L:3635] Re: Community, Wendell Berry

none of these nostrums really apply? That it has been spread to people around the world courtesy of all these supposedly destructive technologies? Or should I take this in a Hegelian spirit - that the hand that made the wound is the one that will heal it? Doug Doug Henwood [[EMAIL PROTECTED

[PEN-L:3663] Re: Real Change for a Change?

At 1:55 PM 1/9/95 -0800, Peter Pflaum wrote: Can someone explain the PC on this list - that some views don't belong strikes me as very strange - Well for one you spew tired ideas at tedious length with numbing frequency. How's that for a start? Doug Henwood [[EMAIL PROTECTED]] Left Business

[PEN-L:3712] Re: economists and failure

by more nimble competitors - Compaq and Dell, Honda and Toyota. Management was too insultated from external pressures (stockholders and product markets). The new order - assertive stockholders and open markets - has changed all that. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St

[PEN-L:3747] Re: Black unemployment rate

(csf.colorado.edu, under economics). By the way, according to the most recent establishment survey data, women account for 48.3% of total employment. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3748] Re: economists and failure

ests were/are. I see extensive quotations from parliamentary reports, testimony, The Economist, popular and scholarly tracts and treatises No dialectician would develop theory in the pure abstract realm. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 21

[PEN-L:3786] Re: Who are Corporate Criminals?

endment to the crime bill even Cockburn might have been interested. J. Case [EMAIL PROTECTED] Calm down, J Case, take a stress pill, relax... Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3788] Re: New Party piece

of the Demorcratic Party itself, which might have the effect of binding people to the Dems rather than severing them. Build a truly independent party and it may have happy effects on the Democrats, but that shouldn't be your starting goal. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250

[PEN-L:3794] Re: New Party piece

Rock. Perhaps from tiny acorns etc etc, but I'm afraid transforming national politics is a lot more akin to the NYC environment than it is to pleasant burgs in the heartland. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874

[PEN-L:3806] 1994 US election

ople have hard lives because government benefits don't go far enough25 50 49 neither/both equally/don't know 14 9 10 percent of total public 17 16 67 endquote Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10

[PEN-L:3807] Re: exports

ever been so open since World War I? Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3809] Re: cuts in general assistance

had one of them on my radio show, but I can't remember her name. Sherrie Ksomething. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3823] Re: Statement by Women Academics on Welfare

economists, or better yet, 5-year-old dismal scientists? Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3825] Re: New Party piece

e ones you confront in Little Rock. As our hopeless president demonstrates daily. Bob Fitch writes very well on NYC. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3832] PWT5.6 now available

Bao Truong. It too is being distributed by the NBER. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3872] Re: Citron's rationality

of ISI Inc., was Institutional Investor's economist of the year for 12 years running. Coincidentally, Ed runs a $2b bond portfolio. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3889] Re: papal economics

what's wrong with the WB/IMF complex. A system that promises salvation if certain painful measures are taken; it's based on faith rather than reason and experience; and it sends its emissaries on "missions." The Vatican 19th St - hit 'em both! Doug Henwood [[EMAIL PROTECTED]] Left Busines

[PEN-L:3898] Re: more on real interest rate question

be profitably redeployed. Instead, they were used to finance more restructurings. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3899] Re: more on real interest rate question

, the share of corporate profits paid to creditors will rise, so in that sense they move in opposite directions. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3903] Re: inflation

on the BLS, worse than anything that ever happened during the Reagan years. Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3908] Frank Baum, Oz, and gold

I think I saw this discussion here before, but I lost it. Anyone know the line on the Wizard of Oz as a populist anti-gold tract? (Oz=oz., Yellow Brick Road, etc.) Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3928] Mass affluence revisited

employment, couldn't offset the declining affordability trend. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3924] Re: inflation

The price of credit matters much less than its availability, and the willingness of borrowers to use it. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3959] Re: ** ASAP ACTION ALERT! ** $40 bil Mexico

, if not most, of the Banking Committee opposed to the bailout, at least this week? Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3960] Re: inflation

f expected employment security Q to name a few "contexts." Sure let's discuss those. What about them? Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3970] Re: inflation

. Bondholders and the Fed are doing their class duty. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3977] Re: inflation

instruments, which can't help but influence their political views. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3981] Re: capacity utilization

it. This is the way powerful interests feel, and from *their class point of view they are right.* Is that conventional? I thought it was more in the Marxian spirit, to describe capitalism as it is, not as we would like it to be. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St

[PEN-L:3982] Re: Nothing to worry about

financial system down with it. etc. -- Globe and Mail, January 28, 1995 You gotta wonder what's in Soros' portfolio. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3985] RE: capacity utilization

, there was a lot of talk of "phantom capacity" - that inflation and energy costs had devalued a lot of the productive capital stock. Now we hear the opposite - that capaicty is looser than it seems, because of high tech and smart management. Who knows? Close enough for journalism. Doug -- Doug Henwo

[PEN-L:3992] Re: capacity utilization

en labor's hand dramatically? Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:3999] Re: Doug Henwood on the Tube

much toward the high road, but hey, I had to remember the audience. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:4010] Re: Shoring down the peso

cats of both nations. What's a progressive economist to do? Root for collapse, and with it the beginning of the end of neoliberalism? Or realize that would hold tremendous risks for Mexico and its neighbors? Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10

[PEN-L:4018] 50 Years

ED], or 202-879-3187, or 1025 Vermont Ave NW Wash DC 20005. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:4033] Re: unit labour cost

are obscurely labeled, huge, and often unwieldy. But there's tons of info there. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA 212-874-4020 voice 212-874-3137 fax

[PEN-L:4044] Re: better off?

At 1:57 PM 2/3/95, Julie Coronado wrote: [of my post on the number of hours needed to earn various staples of American life] I assume that is in real terms? It's in hours of work, which is about as real as you can get. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85

[PEN-L:4057] Re: chomsky page

something like "Progressive pages" or something. You can also click "conservative" and find "The Right Side of the Web," an utterly nauseating project that provides a gateway to the even more utterly nauseating Newt Gingrich WWW Fan Club homepage. Doug -- Doug Henwood [[E

[PEN-L:4070] Re: establishment versus household surveys

iably derived from establishment reports." Though the h.h. survey now has a question about multiple employment, the multiply employed are counted as employed once in the h.h., but multiply in the est. The Ag Dept also does farm counts, doesn't it? Doug -- Doug Henwood [[EMAIL PROTECTED]] Lef

[PEN-L:4069] PWT5.6 access via WWW

rge Street University of Toronto Toronto, Ontario M5S 1A1 Tel.: (416) 978-4325Canada Fax : (416) 971-2071E-mail: [EMAIL PROTECTED] Doug -- Doug Henwo

[PEN-L:4093] Re: social security scare

, in issue #67 of LBO. In official form, check the annual report of the trustees of the Social Security system. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax

[PEN-L:4145] Re: NY Times article

o experience a spell of unemployment in a year than a European or Japanese worker. Or, in other other words, while 6.3% of the US unemployed in 1991 were unemployed a year or longer, 51.1% of Spanish workers, 36.1% of British, 46.3% of German, and 17.9% of Japanese workers were. Doug -- Doug Henwo

[PEN-L:4147] story

When did economists start (over)using the word "story"? Anyone know the pedigree of turn of phrase? Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax

[PEN-L:4161] Re: social security broke?

time, because of increasing concentration of income at the top and growing capital income (i.e., most of the growth in income is above the SS taxable maximum, currently somewhere around $55,000). Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA

[PEN-L:4160] Chase Mexico

-- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax

[PEN-L:4258] Re: interesting article (fwd)

faces capital flight and economic crisis, and therefore instability. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax

[PEN-L:4277] Re: Currency Boards

ent account, just like inflows and outflows of gold, leaving authorities no policy discretion, and forcing an increased external orientation at the same time. Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax

[PEN-L:4312] for Doug

academics working on the issue of US aid and trade policy towards East Africa and the Horn of Africa? You can send replies to me directly if you wish. Thanks Ross Hammond e-mail: [EMAIL PROTECTED] Doug -- Doug Henwood [[EMAIL PROTECTED]] Left Business Observer 250 W 85 St New York NY 10024-3217 USA

Re: Re: Re: Pro-ITN Libel Suit Post

Michael Keaney wrote: I recall correctly Louis Proyect has already highlighted the dubious activities of LM to PEN-L; in fact, didn't Doug Henwood get some stick for having an article published there? Yes, and so what? "Dubious activities" are not enough of a justification to put

Re: Re: LM's Truth (was Re: Pro-ITN Libel Suit Post)

Michael Keaney wrote: And speaking of questionable friends, among those rallying to the support of LM, or at the very least taking Guardian journalist Ed Vulliamy to task for attacking LM's defence of actions committed in the name of the Serbs, is no less than Alfred Sherman, Who? as a

Re: Re: Pro-ITN Libel Suit Post

Michael Keaney wrote: To be critical of the verdict is not synonymous with supporting LM. Not at all. Neither is writing for LM an act of solidarity. I've made my differences with them pretty clear, and in the piece I did for them, I said I hadn't made my peace with capitalism - implying, of

Re: LM, Louis, and Free Speech

Michael Perelman wrote: Now, to the part that gets ugly. I, like many others on this list, was delighted to see Louis Proyect make an overture to Doug Henwood, and then Doug to respond in kind. That for some reason, Lou lashed out again. I will, as he suggested, ask him to sign off for a week

Re: whoops and an apology

[EMAIL PROTECTED] wrote: I wish that he and Doug could work together. Hey, conflict can be productive too. Maybe we could do a thesis-antithesis act. Doug

Re: Boeing Strike Agreement Reached

uld be an artificial restoration of the position as it existed in nineteenth-century capitalism. Full employment would be reached only at the top of the boom, but slumps would be relatively mild and short-lived. -- Doug Henwood Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-741-98

Re: Re: RE: Re: Boeing Strike Agreement Reached

Jim Devine wrote: Right: The finance types are telling jokes about Greenspan and questioning authority, while the National Association of Manufacturers is telling him not to punish industry by monetary policies aimed at cooling off finance. So why has the Fed raised rates, and why is likely

Re: Re: Re: Re: RE: Re: Boeing Strike Agreement Reached

Jim Devine wrote: I thought I answered that. I wrote about how Greenspan is supposed to be the capitalist Nanny who is supposed to decide what's good for them as a class, in the long run. That doesn't mean that there's no conflict between the Nanny and the brats... True. As Chris Rude, ex of

Re: RE: Re: RE: Re: Pro-ITN Libel Suit Post

Nathan Newman wrote: Come on, Jim. Those of us who have supported intervention have been denounced as "imperialists" while folks like LM have been praised for being "anti-imperialist." 1) The U.S. government and NATO are two of the most important institutions of imperialism in existence. 2)

Re: Re: Re: Re: Re: U.S. Monetary Policy

Michael Perelman wrote: As I recall the explanation, long-term capital investment depends upon long-term rates, while short-term consumption is affected by short-term rates. In fact, of course, investment is pretty insensitive to interest rates. Was this before the yield curve was seen as a

Re: Re: Marx and Kapital

Charles Brown wrote: GDP is used to hoodwink the people. Did Chang move to Detroit? Doug

Re: Re: Re: kBureaucracy, et centera, was Re: CP'sAnti-Racist Discipline

Mathew Forstater wrote: Abrams? I know thew one you're talking about, a truly repulsive guy who is also related to one of the National Review or New Republic conservative media families, I think. Elliott Abrams went to Little Red, the Commie primary/secondary school in New York. Doug

Re: Re: Re: Re: Re: Re: Re: Re: Re: U.S. MonetaryPolicy

Edwin Dickens wrote: Either a new consensus forecast for interest rates will form or the Fed will begin to lose its sacred "credibility." Or the Fed will have to tighten more than it would have otherwise to achieve the desired dampening effect on stocks the real economy. Doug PS: Love all

Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: U.S.Monetary Policy

Edwin Dickens wrote: Presumably by "tighten more" you mean abandoning the 25-basis-point increases in the Federal funds rate and the discount rate at each FOMC meeting, for 50-basis point increases at meetings or even increases between meetings? At this point, without spikes in the price

funny money vs. soaking the fat boys

Ellen Frank wrote: Instead the Fed restricts its lending to financial institutions. Yeah, but it doesn't do much of that; discount window borrowings are pretty rare. It's all open market operations. I thought, though, that under the 1980 law - called something like the Depository

Re: Re: U.S. Monetary Policy

Ellen Frank wrote: Hey Doug - You know, I just don't beleive this stuff about the stock market. I mean, if the Fed wanted to burst the stock bubble, why not raise margin requirements? Why pussy-foot around with 1/4 point rate increases that the market keeps discounting in advance? There's not

Re: Re: funny money vs. soaking the fat boys

Ellen Frank wrote: Well, the fat boys can be soaked via taxes and other forms of expropriation or the rich can be by-passed altogether, by creating alternative forms of social wealth. These are not mutually exclusive. That's what I don't get - how can you bypass the rich. If money and capital

Re: [Fwd: EMPERORS CLOTHES? NEVER HEARD OF 'EM!]

Carrol Cox quoted: The annoying thing is that Cockburn did not credit emperors-clothes which, after all, is no different from any other magazine; we expect to be credited for our work since our work is our reputation, etc. This is pretty funny. The list of Alex's uncredited sources would rival

Re: Re: Marx and financial crises

Apropos Ted's psychoanalysis of crisis, I think one of the mechanisms by which modern bailouts work is psychological - they put a cap or collar (to use the language of derivatives) on fear, thereby slowing the rush to the exits to a more manageable pace. This will no doubt outrage some

Re: Query on Small Farmers

Carrol Cox wrote: Does anyone have any good figures on the farm population of the United States? How many "small farmers" are left -- not counting those whose primary family income is from regular off-farm employment. Also, I'm not sure how to define "small farmer." Does this category add up to

[PEN-L:5461] Re: The RIghtward March

. The culture has long been saturated with violence. It's gotten worse lately, but it's always been there. Doug -- Doug Henwood Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax email: [EMAIL PROTECTED] web: http://www.panix.com/~dhenwood

[PEN-L:5469] public housing

uldn't get away with. Nixon in China; Clinton ending welfare. Doug -- Doug Henwood Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax email: [EMAIL PROTECTED] web: http://www.panix.com/~dhenwood/LBO_home.html

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