tag:blogger.com,1999:blog-3591186784456519139.post8044345107223064536..comments2024-01-02T17:38:32.872+00:00Comments on Economics of Imperialism: The Real US Debt ProblemTony Norfieldhttp://www.blogger.com/profile/03896437404164741498noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3591186784456519139.post-77609441758348399132011-07-31T23:26:50.152+01:002011-07-31T23:26:50.152+01:00agree in part especially about the looming debt.
...agree in part especially about the looming debt.<br /><br />But i think there is more to the Tea Party/right Republicans. Their policy of slashing welfare: medical, veterans, welfare for the masses, is in order to transfer more wealth over to finance capital. Living standards will fall further for most of the population, as they have already over past decade(s) to create new areas of accumulation.<br /><br />The result will be greater poverty while fueling any credit expansion once the recovery is on its way ie another 2000s speculative boom, afterall if people haven't the means to buy they will borrow unless there is both an ideological and physical attack on living standards. <br /><br />It's not dissimilar to what is happening in the UK over the "necessity to cut" the deficit.<br /><br />There is huge amounts of capital out there being hoarded, and huge debts. The problem for capital is finding areas for accumulation and profitability.keithhttps://www.blogger.com/profile/05551343571066684884noreply@blogger.com