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Yes but if the consequence of how the crisis is tackled is to make the original cause of the crisis even worse, what is the basis for the eventual recovery he seems to expect?  He doesn't seem to share the "anglo-disease" analysis that the root cause of the crisis is 30 years of ever greater transfer of resources and power from the poor to the super-rich.

If the chosen solution to the fire is to pour oil onto it, surely we can expect an ever greater conflagration?

How can "consumer sentiment" recover if consumers are even more impoverished by inflation and a net transfer of resources to Oil producers?

How can the US recover if the escalating costs of Iraq are compounded by increased oil prices.

I don't see the basis for recovery in his analysis...

"It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue Jul 15th, 2008 at 06:23:05 PM EST
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