Re: [OPE-L] Credit crunch

From: paul bullock (paulbullock@EBMS-LTD.CO.UK)
Date: Sun Sep 09 2007 - 14:38:02 EDT

----- Original Message -----
From: "Jurriaan Bendien" <adsl675281@TISCALI.NL>
Sent: Sunday, September 09, 2007 2:09 PM
Subject: [OPE-L] Credit crunch

Re  Argentina
> So anyway capitalism can collapse through credit defaults, but it can also
> revive (with the aid of new credit) - capitalism is destroyed, only if the
> specifically capitalist private property relations are abolished or become
> unworkable, whether through political upheavals, or natural disasters.
 Jurriaan, the 'revival' in Argentina was due to large scale impoverishment,
via  massive devaluation, (which promoted exports and later roperty sales to
foreigners), and  the theft of dollar savings from the middle classes, not
through the aid of 'new' credit. The underlying issue is always the rate of
exploitation, not credit per se.

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