Can Goldman Wipe Us Out With a Keystroke?

Sure, it sounds like something out of psy-fi. But then again so does a bankster-engineered depression, executed by lightspeed supercomputers running proprietary algorithms from math and compsci PhDs. And look how that worked out. I probed deep into the econopocalypse’s wired nether regions for AlterNet to discern how a electronically initiated Flash Crash could wipe [...]

Why China Has Our Economy By the Balls

[Scott Thill, AlterNet]
On May 1, China popped the cork on Expo 2010 in Shanghai, a months-long international celebration signifying the ascension of the city, and thereby its parent nation, as a global economic and cultural powerhouse. Meanwhile, in the United States, China’s economic and cultural power has come under mounting fire.

Short-happy hedge funder [...]

Clusterfuck! Worse Than 1789?

[Jim Kunstler, Clusterfuck Nation]
Senator Levin pretty much had Goldman Sach’s Lloyd Blankfein dead in a casket with that now-notorious email from GS’s head of sales and trading, Tom Montag, describing one of their billion-dollar investment “products” as “one shitty deal.” Levin seemed to delight in crossing the boundary into the realm of the unspeakable, [...]

Clusterfuck! A Still Moment

[Jim Kunstler, Clusterfuck Nation]
George W. Bush was onto something in the fall of 2008 when he remarked apropos of the Lehman collapse: “…this sucker could go down.”

It’s my serene conviction, by the way, that this sucker actually is going down, right now, even as I clatter away at the keys — perhaps in slow motion, [...]

Clusterfuck! Where Is RICO?

[Jim Kunstler, Clusterfuck Nation]
It’s interesting and instructive to read The New York Times’ lead story this morning, Top Goldman Leaders Said to Have Overseen Mortgage Unit. While it pretends to report all the particulars of the huge scandal growing out of Friday’s SEC action against Goldman Sachs, the story really comes off as an attempt [...]

Goodbye Paper Money! It Was Nice Knowing You

[Scott Thill, AlterNet]
Currency has come a long way in the past few thousand years of human existence. Ancient Turkey started using hybrid silver and gold coins around 640 B.C. and the Chinese started passing paper around 800 A.D. But it wasn’t until the middle of the 20th century that Diners Club finally invented credit cards, [...]

Goldman Sucks Greece, Swallows The Eurozone

I’ve been writing about Goldman Sucks — that is, rapacious economics star chamber Goldman Sachs — for years now. And I’m glad the rest of the world is finally paying attention. Literally. But don’t kid yourself: Just because Goldman helped sink Greece, and perhaps the euro, doesn’t mean they aren’t planning to do the same [...]

Clusterfuck! Six Months to Live?

[Jim Kunstler, Clusterfuck Nation]
The economy that is. Especially the part that consists of swapping paper certificates. That’s the buzz I’ve gotten the first two weeks of 2010, and forgive me for not presenting a sheaf of charts and graphs to make the case. Just about everybody else yakking about these thing on the Web provides [...]

Clusterfuck! Hostage Situation

[Jim Kunstler, Clusterfuck Nation]
Okay, so President Obama didn’t run for office to help out a bunch of fat cat bankers on Wall Street – or so he said on CBS’s “60 Minutes” show Sunday night. But maybe it didn’t seem like such a bad idea once the election was over. Anyway, the net effect of [...]

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! Evil Syndicated

[Jim Kunstler, Clusterfuck Nation]
By now, everyone in that fraction of the world that pays attention to something other than American Idol and their platter of TGI Friday’s loaded potato skins knows that Goldman Sachs has been caught at another racket in the stock market: front-running trades. What a clever gambit, done with the help of [...]