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Elaine,
I used to read Delong, as well as Setser who both are big Boost The Yuan guys. I read a Mike Whitney column which featured you talking about the undervalued yen being the real issue, and I couldn't understand why you weren't on board with those other guys so I started investigating to see what was up. Started reading your site and appreciate the way you build your case and it has been a great learning experience. Sometimes people don't want to go against conventional wisdom, which is likely the case with Delong and Setser. Of course they're educated, but it does make them look stupid to those who look at things objectively. Their loss, to not listen to you.

So ironic that you should mention Mitt's firm Bain Capitol
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/05/AR2008010502608.html?nav=rss_world
Short form: Huawei Technologies joins with Bain Capitol in a $2.2 Billion takeover bid of 3Com. Huawei would own 21.5% but of course would have No Operational Input.
An oldie but a goodie
http://www.forbes.com/global/2006/0619/034.html

Of course there is no NAU, no Trans-Texas Corridor ( AKA NAFTA SUPERHIGHWAY ) corridor, no SPP, http://www.stopspp.com/stopspp/
no discussion of a fiat AMERO to replace the dwindling dollar.
No Hutchinson Whampoa, no attempt to bypass the Unionized port of Long Beach, no plan to make Kansas City the international port of choice for Chinese goods shipped to non-union ports in Mexico and trucked and railed up that trans texas corridor by non-teamster mexican truckers for disbursement and break bulking in non union centers in KC. Out of the mainstream indeed.
As for Bradford DeLong, he is another in a long line of economists who look at static snapshots and pretend that they understand the dynamics of Human Action. Not worth your while to dialogue with him, or Krugman either both are just well paid shills for the status quo.

Protecting America is 'xenophobia' to these traitors. Many of them don't care if they sell us down the river.

Elaine, have you seen Bichler and Nitzan's analysis of the Israeli economy? If they are right, is sounds like the Israeli traitors are even further along in betraying their own country than are our American traitors. Their work is here.

The 'official' unemployment numbers cited by the NYT writer are as cooked as any books that Enron ever kept. Actual unemployment numbers in the US are closer to the 8-10%. This range is oddly similar to unemployment levels in Europe, and the US has no shortage of criticism for the likely more accurate European statistics...I mean...European 'failing'.

Are they hiring Epsilon Semi-morons to work at the NYT?

No matter. Globalization is a dead man walking. It is dead because it is a failure. China and Russia will be the model anti-globalist states (which is why TPTB and the NYT hate them so much). The globalist states, first world or third, will falter under the burdens of debt & greed.

The final nail in the coffin will be peak oil. Lead-painted toys from China aren't going to be cheap when oil is $250/bbl (or 500 or 700). Conflicts over resources are going to be the end of so-called "free trade".

Good riddance to bad rubbish.

In a severe recession unemployment may well reach 20 %, or above. The US is a very energetic society and such high unemployment numbers will cause a lot of stresses domestically. There is already a lot of negative feelings towards illegal immigrants. They are tolerated when times are good, but it looks like they will be hounded out when times go bad (as they will). Some of them are nothing but modern day slaves as it is, living in shacks (sometimes even chained and locked up) and earning less than the minimum wage for their back breaking work. Remove illegals from agriculture and US food prices would increase drastically from the added labour cost.

I recall talk early on that the Bush administration was looking to roll back the New Deal. And isn't that where this thing is heading? A major depression, only this time there won't be a Roosevelt with a New Deal. Unemployed workers squeezed by facing starvation will accept whatever scraps comes their way out of pure desperation (and do the work illegals do today for the same wages, if that). Protests and civil unrest will be met with government guns and internation camps. And looking for salvation through the vote is a no go. The political system has circled the wagons.

Did you see George McGovern's op ed in the Washington Post today? How Junior and Darth must be given the heave-ho?

It's reprinted on Common Dreams.

I loved McGovern. War hero, anti-war candidate. Arrest Bush! Arrest Cheney! Haul them into the world court and give them chainsaws: two men in, one man out.

Or in this case, one borg, one monkey in, no men out at all. Since none are in.

"I hope my repetitions of basic facts don't bore regular readers..."

That's OK... this regular reader mostly skims.

"People wanting cheap foreign goods must be ignored..."

That would be... everybody. Except for you and maybe three other people.

"Actually, thinking about 100 things at the same time is highly recommended here."

Therefore, each thing gets 1/100 of the mental resources. (The effects of that show up clearly in your writings.)

Elaine,

You are on FIRE.

Stalingrad...I've lived in the UP for most of my youth. I cannot immagine fighting war in "white out" conditions. Not for days or weeks, but, for months on end. We are always shown old German Army accounts of how "bravely" the Army fought; the cold, lack of personal protective clothing, faith in victory, etc... Never the fact that the defending Soviets were also in the same environment...and were resolved to stop the aggresor. One man at a time.

You're dead-on when you say we in the US are not to examine too deeply the human motive of "fight-or-flight. I've read several very good historical accounts of that battle and it seems to me it came down to this: We make a stand here. Not another inch to the enemy. Not another consession or fall-back. We will not let others fight our battle.

I fear we in the US are headed for our own, collective, Stalingrad. I call it our Stalingrad Moment.

The big FOOL puts us in a position where some one on the other side says: " We make a stand here".

190,000 men in the German 6th Army went into Stalingrad. Only 6000 returned to Germany after the war. Not immediately after, but, after years of hard labor in very bad conditions.

6000.

I fear we are heading for our "Stalingrad Moment".


James in Wisconsin.

In Germany, I knew a Panzer tank officer who survived the Russian prison camps. He inspired me to learn about the great siege. He only gave small hints about what happened to him there and afterwards.

nobody want's the mexicans just what mexicans has to offer, like gold back then when america was tottally mexican and now the oil, water some food and slaves, as long as the go back home as long as the stick on the side of the wall

The Jewish blogging world's most reviled rabbi has looked into the allegation that Ron Paul hates Jews, but has not yet issued a Halachic ruling on the matter.

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