From: gerald_a_levy (gerald_a_levy@msn.com)
Date: Mon Nov 18 2002 - 08:47:48 EST
In [8014] Andy wrote: > There are were too many issues going on at once in the SOAS > thing but Brenner's data on the most recent magnitude of the US > non-financial corporate profit rate does stick in my mind -- it dipped > to its lowest level for 19 years in 2001. Much of that data is in the following article, from July/August 2002: http://www.3bh.org.uk/IV/main/IV342/IV342%2009.htm Brenner projects that over the medium term there will probably be "stagnation/slow growth, or even worse" for the US economy. Listmembers will recall that there was a thread last Fall on the current recession in the US economy. At the time former listmember Patrick M argued that the US economy could be expected to rebound by the 1st Quarter of 2002. Fred was not convinced. A year later we now see that those like Patrick who expected an expansion in 2002 were mistaken. The underlying question that Brenner offers one answer to is: 'why?'. WHY hasn't the US economy rebounded as anticipated and what does that tell us about the next period for the US and the international capitalist economy? What effect would a possible war with Iraq -- which 'GW' seems to be hell-bent on launching -- have on the US economy in the short-term and over the long-term? In solidarity, Jerry
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