by americandream » Tue 30 Aug 2011, 20:01:23
$this->bbcode_second_pass_quote('Fishman', '.')"America needs very little growth these days.(Wrong, 9% unemployment and a terrible national indebtedness would indicate otherwise)
The whittling away of the state removes the infrastructural element from that calculation.(Wrong again, worsening economy from peak oil is whittling away at the government. Do you think the government has some magical way to remain large despite peak oil? The Tea Party folks are just pointing out reality, sucks doesn't it? You want infrastructure or free needles for junkies, you just can't have both now )
Global capital can do very well with the existing discount model for as long as they can keep the pumps working. (Wrong again, China is already hurting, the model is one of jagged decline as Plant alludes to)
Now that they have most of the ME under Saudi control, I am pretty sanguine that oil will find a range in due course.(Probably wrong again, but time will tell)
1 The unemployment is merely a balancing mechanism for removing the Cold War premium on American wages. When a garden gnome is capable of being manufactured for a bowl of rice, clearly an unbalanced labour unit cost will succumb, eventually, to capital flight. And capital will continue to succumb to said flight as long as the disparity exists.
2 America's indebtedness harkens back to the popularisation of capital in the US with homes for everyone. Now that said culture is ingrained, that cost of that exercise must be clawed back. A combination of debt funding as well as the use of fiscal collections whilst there is a tax base will do the job nicely. Time is an issue as this project requires completion before US labour has been so transformed that it can self sustain as consumer without the need to maintain a tax base.
3 There is no need for a government funded infrastructure when the object is maximised profit by full commodification including user pays. The Tea Party are useful for articulating that tendency as would the Donkey Party or the Party of Indifferent Housewives.
4 China is hurting only to the extent that the transition of US labour to globally efficient per labour unit costs is underway. All good things take time.
5 I do indeed trade and grateful am I for the capacity to survive in this tank of sharks.
