tag:blogger.com,1999:blog-6959437.post2229504311873650083..comments2023-07-17T11:16:40.223-04:00Comments on The Wolf Report:Nonconfidential analysis for the anti-investor: Johnny B CrudeThe Wolf Reportshttp://www.blogger.com/profile/13300136765791861726noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6959437.post-82316870306182475772015-04-13T17:17:48.435-04:002015-04-13T17:17:48.435-04:00Some of my answer depends on what you mean by &quo...Some of my answer depends on what you mean by "crisis." If you mean the period since 2008, then yeah, I think the decline in the rate of profit coincident with the accumulation of capital is the root.<br /><br />If we're talking since 1970, when the postwar rate of profit peaked, I don't consider the entire period to be one of crisis. 45 years, as I've said before, ain't no crisis, it's a business plan.<br /><br />But in general, yes, I think the tendency of the rate of profit to fall and the attempts to offset that decline are the elements determining the path of capital. <br /><br />See "In No Particular Order" for further informationThe Wolf Reportshttps://www.blogger.com/profile/13300136765791861726noreply@blogger.comtag:blogger.com,1999:blog-6959437.post-49125892992985805782015-04-01T14:54:11.485-04:002015-04-01T14:54:11.485-04:00I am wondering what are you view on the origins of...I am wondering what are you view on the origins of the crisis? Do you subscribe to any particular Marxist explanation of the crisis or have you developed something more of your own? Am I correct in reading falling rate of profit theory as your explanatory framework in this post?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6959437.post-73071102373427872642015-04-01T12:34:38.398-04:002015-04-01T12:34:38.398-04:00Sure collusion exists; sure the bourgeoisie compet...Sure collusion exists; sure the bourgeoisie compete, undercut, utilize every trick in the book to accomplish their goals, but the goal is revenues. The "political" dimension is a reflection of the social. Let's step back for a second, and flip the script a bit: was fracking technology developed in order to undermine the political regimes in Venezuela, Iran, Russia? Or was it developed to aggrandize profits?<br /><br />I don't think US policy determines what US producers do. No more than I think the current reduction in capital spending among US producers and international majors is designed to strengthen the regimes in Nigeria, Angola, Mexico. The Wolf Reportshttps://www.blogger.com/profile/13300136765791861726noreply@blogger.comtag:blogger.com,1999:blog-6959437.post-7097966785247257902015-04-01T12:16:43.805-04:002015-04-01T12:16:43.805-04:00Seems like your analysis is lacking a political el...Seems like your analysis is lacking a political element. Isn't the falling world price of oil due, at least as much, to the collusion of the US and Saudi Arabia in ramping up the level of oil production in order to undermine the oil revenues of several of their "enemies"---Venezuela, Iran, and Russia?uh...clemnoreply@blogger.com