Capitalism: six months to live?

I’m still convinced capitalism can be put under in six months of hard struggle by the oppressed nations bourgeoisie, especially if Amerikans cannot change by mid-June. You never know when just one of Obama, Pelosi or Reid is a secret communist who wants to play the role of obtuse tsar while the revolution boils over. It’s not in my hands and I couldn’t totally say one of them would be wrong to bring on the apocalypse now rather than later.

Class struggle aside, that’s not to mention that the United $tates could have its diplomatic staffs cut back incrementally by host countries in a coordinated Third World offensive.

I do not believe the gasoline in storage tankers is going to save capitalism.

If I said something wrong about “borrowing other people’s money” out there, I meant something cross-national, not within the united $tates. I would mean “borrowing other countries’ money” could be a different question.

In capitalism as a world system, I do not mean to say that borrowing is the same as taxing in relation to government spending. We are also happy to think about multipliers in the Third World.

I’m more concerned about Third World lending to the united $tates having internalized racist aspects that lead to higher rating of U.$. debt than Amerikans themselves would give it. Anyway, I think I am on the same page as Krugman and Stiglitz. There are good stimulus related reasons for China and its higher savings rate to spend more somewhere else and not spend it propping up the dollar. Yet of course, MIM would not arrive at such an analysis except as a supplement to concerns about exploitation and taxation without representation. To us the basic problem is that there is much more by way of untapped resources in the Third World than in the rich countries.


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