The great irony is that Kemp was necessary in order to keep what Harrington wanted in place. Now that the collapse of Kemp is well nigh upon us, the collapse of what Harrington wanted will follow, and quite quickly. Don't be surprised if politicians try to raid the excesses of Kemp to keep alive what Harrington wanted as much as they can, but in the end it is all for naught.
What will follow is something quite different, btw. Though it may "sound" similar.
attempted translation to English:
a shift to the neoliberal state, through the Volcker induced-recession, was necessary to destroy inflation and thus preserve the Keynesian welfare state for a time. this was done through a shift from inflation to the use of both public and private debt to 'bridge the gap'. the neoliberal state is collapsing, but with interest rates still low, the US gov't will attempt to borrow in order to put of the day of reckoning re: social welfare spending, but this can only go on for some time before a wall is hit.
the last sentence is unfalsifiable nonsense and cannot be translated to English.
