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 [...]

Clusterfuck! Hunky Dory

[Jim Kunstler, Clusterfuck Nation]
Whenever the herd mentality lines up along a compass point leading to “permanent prosperity,” or a yellow brick road lined with green shoots, or something like that, I tend to see the edge of a cliff up ahead. We are now completely in the grips of the deadly diminishing returns of information [...]

Capitalism, Sarah Palin-Style

[Naomi Klein, The Progressive]
We are in a progressive moment, a moment when the ground is shifting beneath our feet, and anything is possible. What we considered unimaginable about what could be said and hoped for a year ago is now possible. At a time like this, it is absolutely critical that we be as clear [...]

Clusterfuck! Snake Eats Tail

[Jim Kunstler, Clusterfuck Nation]
I’d like to know what Barack Obama thinks he’s doing with the fiasco we call the US economy. He can’t pump it back into the credit-fueled freak show it used to be, of course, but he could steer it in a practical new direction. Even people who have lost a [...]

Clusterfuck! The Bottom

[Jim Kunstler, Clusterfuck Nation]
Euphoria managed to out-run swine flu last week as the epidemic-du-jour, with “consumer” confidence jumping and the big bank stocks nudging up. The H1N1 virus fizzled for now, at least in terms of kill ratio, though we’re warned it might boomerang in the fall with a vengeance. No one was surprised to [...]

Clusterfuck! The Joker

[Jim Kunstler, Clusterfuck Nation]
Things come out of the woodwork. All of a sudden it’s a mutant H1N1 swine flu, with bird and human DNA accessories. We don’t know where this is taking us. It could be a media blowover, like SARS, or it could be a big deal, shutting down travel and assemblies of humans. [...]

A Lexicon of Disappointment

[Naomi Klein, The Nation]
All is not well in Obamafanland. It’s not clear exactly what accounts for the change of mood. Maybe it was the rancid smell emanating from Treasury’s latest bank bailout. Or the news that the president’s chief economic adviser, Larry Summers, earned millions from the very Wall Street banks and hedge funds he [...]