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Someone Change Ben Bernanke’s Drugs

[Greg Palast, Morphizm]
I still get a thrill whenever I get my hands on a confidential memo with “The White House, Washington” appearing on the letterhead. Even when—like the one I’m looking at now—it’s about a snoozy topic: This week’s G-20 summit.

But the letter’s content shook me awake, and may keep me up the rest of [...]

Mortgage Underwater? Just Walk Away

No one likes a bad investment, especially when everyone has been making them. The housing meltdown was built on a house of cards called securitization, and it ruined the global economy. So why should homeowners stick with houses that are worth less than their mortgages when even banks are walking away from them, after foreclosing [...]

Clusterfuck! The First Die-Off

[Jim Kunstler, Clusterfuck Nation]
Sunday, I got a taste of the oldest established permanent traffic fiasco in America known as Escape From Cape Cod. This is not a regular thing for me. I have no family there and never did. Friends invited us out to an idyllic hidden corner of the place far [...]

Land Grab? Food Rush? Whatever. The Plantation Mentality Is Alive And Well.

Here’s how the have and the have-nots works. Some lucky souls are born into fertile lands and copious riches. Some are born into rapacious governments and uncompromising economic policy. Some are born into nations of parsing nerds with degrees who dilute reality with boring terminology that buries severe sociopolitical, environmental and financial costs. Telling them [...]

Clusterfuck! The Fog of Numbers

[Jim Kunstler, Clusterfuck Nation]

There’s something happenin’ here
What it is ain’t exactly clear….
– Buffalo Springfield, “For What It’s Worth”

One of main reasons behind the vast confusion now reigning in the USA, our failure to construct a coherent consensus about what is happening to us (or what to do about it), is our foolish obsession with econometrics [...]