XPost: alt.anarchism, alt.politics.socialism, alt.society.anarchy   
   XPost: soc.rights.human   
   From: anarcissie@gmail.com   
      
   On Thu, 14 Apr 2011 14:25:37 -0700 (PDT), "*Anarcissie*"   
   > ...   
   >>I think it's probably a mistake to confuse the possession and use of   
   >>money with wealth.  It is true the very rich have a lot of nominal   
   >>money, but the money they have is largely the product of credit   
   >>inflation, so it is hard to say what they actually possess.   
   >>   
   >>They certainly appear to be incompetent, but we may be looking at things   
   >>the wrong way.  They are kleptocrats; if they are smart thieves, they've   
   >>got a stash hidden away somewhere where they can go after things turn   
   >>really sour in the U.S.   
      
   Joseph K.:   
   > I'm sure they have built a personal safety net, but it still more useful   
   > to stress the fact that they lost so much of the funny money (as you   
   > call it) the big guys in gov't engineered towards them. That way it is   
   > clear that both groups failed, and that they insist in the application   
   > of their failed ideology.   
   >   
   > Things are going to turn very sour after the next election in 2012.   
   > There will be really big cuts in gov't spending. At the same time, the   
   > families in the nine lower deciles will continue contracting. So who   
   > will push the economy into solid recovery? Corporations are making   
   > spectacular profits nowadays, but most of it is in the financial sector.   
   > The USA is facing stagnation Japanese-style (and that may not be a   
   > completely bad thing, to get used to much lower levels of spending and   
   > debt).   
   >   
   > Another interesting development in the brave new neoliberal world is the   
   > potential real estate buble explosion in China. More than 60 million   
   > unsold apartments, a good fraction of them in the market for years now.   
   > Complete ghost cities with empty apartment complexes and gargantual   
   > malls without shoppers. What will be the consequences of that for the   
   > USA given that a large part of USA debt is held by chinese banks and   
   > corporations?   
      
   It's hard to say because the money has become so highly   
   fictional.  Since the status quo ante has been restored,   
   more or less, I expect the debacle quo ante to recur.   
      
   The same must have occurred to at least the smarter   
   kleptos, and I'm wondering where the wealth is being   
   socked away.  Things look pretty spiffy here in New   
   York City, but I would think the kleptos would want   
   something off the mainland.  Well, except for the   
   Bronx, New York City _is_ a set of islands;  I guess   
   they can block the bridges if things get really ugly.   
   But how about Bermuda, the Bahamas, Trinidad, the   
   Caymans, the Azores....  Anyone seen large shipments   
   of gold bricks and machine guns going to small islands   
   with pleasant climates?   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)