Re: Contemporary Geopolitics, again

An added interpretation of the bind facing the U.S. imperium. Big and 
especially medium-sized (i.e. not so globally-outsourced) U.S. industrial 
capital has inched more and more toward complete allegiance to the 
Republican camp. They thought they had their man at Treasury in O'Neill 
(Alcoa), and now they probably do in Snow (USX). Per their interests, a 
soft, downward readjustment of the dollar, and European and Japanese 
reflation, is a welcome thing. Behind the scenes, I'm sure they've been 
plying the "let the inspectors do their job, grease the palms of our 
overseas customers, then wage war on Iraq with full fury"
line. But, as I suggested earlier, I'm not sure a "successful" U.S. invasion 
and occupation of Iraq, as long as it has to be vetted by other
big powers, can keep the dollar from tumbling significantly, too far for the 
likes of U.S. industrial capital. Yes, a substantially weakened dollar means 
more export revenues, but it also translates into less market capitalization 
via overseas investors. In any event, there seem to be structural 
contradictions between those sectors of capital aligned around the foreign 
policy neo-cons, and those sectors of capital that Bush 43 has successfully 
wooed these last two years by means of emergency protectionist measures.

John Gulick

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