Re: capitalism and collapse
On Aug 12, 2007, at 1:26 AM, Patrick Bond wrote:
but in any case…yes it was about $7 trillion lost stock market value between 2000 and 2002 (from $17.8 trillion to $9.4 trillion, which brought nominal capitalization back to 1996 levels). And the consequences of that “crisis” were…
Well my mum’s pension was busted, and so were a few other million
folks’. (Like you Doug, for years she’s poohpoohed my chicken little squawk.)
Again, that’s just normal operating procedure, not a crisis. It would
have been a crisis had your mum and millions of others whose pensions
were busted taken to the streets and demanded some heads.
Doug