[Marxism] Patrick Bond on world financial volatility

Jurriaan Bendien andromeda246 at hetnet.nl
Fri Dec 24 10:12:54 MST 2004


I think Patrick makes a pertinent analysis, but I wonder what political and 
cultural conclusions follow from it, i.e. how he sees all this affecting 
social relations, and just how volatile that volatility is. I also wonder 
why the US savings rate is so low; one sort of explanation is that Americans 
live "like there's no tomorrow" but that doesn't seem entirely credible - 
another possible explanation is that, if we disaggregated the data, we might 
find a large mass of people don't have the money to save. One can hardly 
object if people try to help other people into homes, but what is the 
overall economic effect, apart from rising property values?

Jurriaan 





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