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Profile: Research Unit for Political Economy

 
  

Positions that Research Unit for Political Economy has held:



 

Quotes

 
  

Quote, December 2002

   “The US, and indeed the world economy, is suffering from a crisis of overproduction. In order to stave off recession, the US central bank has been boosting demand by pumping in unprecedented amounts of credit. The US has the funds to do this because foreigners put their savings in US dollar assets. The US's overall global supremacy and in particular its control over oil have sustained its status as the safest harbor for international capital. However, the US's ability to soak up the world's savings is a double-edged sword. If foreigners, who hold half or more of all the US currency, should decide to dump the dollar, its value would plummet, leading to yet more capital flying from the country. In order to prevent that happening, and to get foreign capital to return, the US would have to raise its interest rates steeply. But if that were to be done, given the vast addition to US debt since 1980, this time round a steep US interest rate hike could cause a crash heard round the world. This would happen because debt-laden American corporations and consumers would be unable to service their debts, so their assets would flood the market; asset prices would collapse, and banks—swamped with worthless assets instead of income—would in turn collapse. In short, there is a threat of a new Great Depression.” [Research Unit for Political Economy,11/02]

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Research Unit for Political Economy actively participated in the following events:

 
  

June 28, 2002      Complete Iraq timeline

       The National Review publishes an op-ed piece by Lawrence Kudlow, titled, “Taking back the market . . . by force,” in which he claims, “The shock therapy of decisive war will elevate the stock market by a couple thousand points.” Kudlow is the CEO of Kudlow & Co. [National Review, 6/26/02]
People and organizations involved: Research Unit for Political Economy
          

December 2002      Complete Iraq timeline

       RUPE publishes a special issue in their journal, Aspects of India's Economy, analyzing the true motives behind the United States' plan to invade Iraq. The purpose for this special publication, according to RUPE, is that India (like Pakistan) has been placed within the US geo-strategic agenda for the Asian region. This has been done, among other things, by declaring India to be an important military ally, and by working for a US-India political/military axis against China. RUPE argues that this will heighten the military tension in a region occupied by nuclear powers. Therefore it is necessary to understand the true motives behind the US geo-political agenda, exemplified in the current move against Iraq, before uncritically exposing one's country to such risks. The report concludes that protecting the security of the US dollar is a primary motive behind the US's planned invasion of Iraq. [Research Unit for Political Economy,11/02]
People and organizations involved: Research Unit for Political Economy  Additional Info 
          

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