Comments on: Banks Brace for Storm Surge as Dollar and Credit System Reel http://dissidentvoice.org/2007/09/banks-brace-for-storm-surge-as-dollar-and-credit-system-reel/ a radical newsletter in the struggle for peace and social justice Thu, 08 Dec 2011 15:07:30 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Deadbeat http://dissidentvoice.org/2007/09/banks-brace-for-storm-surge-as-dollar-and-credit-system-reel/#comment-6185 Deadbeat Fri, 21 Sep 2007 02:45:01 +0000 http://www.dissidentvoice.org/2007/09/banks-brace-for-storm-surge-as-dollar-and-credit-system-reel/#comment-6185 Whitney is an alarmist. He makes points that are extremely valid and ignores other. Such as the declining dollar helps exports and lowers the balance of payments. He's right that the FED action is not to the benefit of workers but workers have been screwed for the past 40 years and Capitalism roars on. If you want a more cogent analysis I'd recommend Doug Henwood and his Left Business Observer articles or James Petra excellent explanation of why Capitalism isn't going to go away anytime soon. What's happened is that Capitalism has been "socialized" and the workers will be bailing out the system via inflation or stagnant wages. Unfortunately the maldistribution of wealth will keep the economy running. Whitney is an alarmist. He makes points that are extremely valid and ignores other. Such as the declining dollar helps exports and lowers the balance of payments. He’s right that the FED action is not to the benefit of workers but workers have been screwed for the past 40 years and Capitalism roars on.

If you want a more cogent analysis I’d recommend Doug Henwood and his Left Business Observer articles or James Petra excellent explanation of why Capitalism isn’t going to go away anytime soon.

What’s happened is that Capitalism has been “socialized” and the workers will be bailing out the system via inflation or stagnant wages. Unfortunately the maldistribution of wealth will keep the economy running.

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