[Marxism] Another BRIC about to fall

[Larry Damms]

Lou Proyect posted:
 
>Brazil Stocks May ‘Capitulate’ on Economy, Citi Says
>By Roger Neill and Michael Patterson

John Gulick posted over at Henwood's list:
 
In the later stages of the last global economic expansion, now collapsed, when the coffers
of cheap manufacture- and primary commodity-exporting countries swelled up with
currency reserves, and said countries' sovereign wealth funds began to imitate Anglo
American hedge funds and private equity, not a single dimestore pundit worth his salt
withstood the temptation to write a buzzword-laden, pseudo-social scientific tome on "the
rise of the BRICS/non-West" being the master theme of the 21st Century.
 
These airport bookstore novels written by bandwagon hoppers such as Friedman, Khanna,
and Zakaria were effectively obsolete within a year or two of their publication. With
trademark opportunism (keep your mind fixed on the big chance) they mistook the
decadent, final gasps of "Bretton Woods II" -- global capitalism ruled by the pure dollar
standard -- for its successor.