Watching the slow-motion train wreck of an economic system collapse unfold

Watching the slow-motion train wreck of an economic system collapse unfold
click pic to reminisce

(quantitatively) ease on down the road to serfdom  

Posted by howard in nyc in , ,

that loudmouth over on the sportsfrog is at it again:

people, please consider reading this:

matt taibbi explains the aig scandal and the bigger pictures of how they stole our economy and bankrupted our country.
the rolling stone article
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kids, conditions are much much worse than three months ago. there is a tiny sliver of good news. conditions are much more clear and simple today.

goldman sachs is in charge of our nation's economic policy. when people suggested this a year ago, the claim was easy enough to dismiss. however, today this is an undeniable fact. supported by tons of public evidence.

the policy they have executed has worked well for goldman sachs and a few other firms, and a small number of the elite. it has cost the people of the united states in the neighborhood of $5 trillion dollars. and it has weakened, rather than strengthened our financial system. the policies taken to date have made a possible recovery less likely, and pushed it further into the future.

the good news? these facts are clear and plain enough today, that the american people have half a chance of recognizing them as facts. and demanding (as president obama famously said during the campaign) ENOUGH! no mas.

and i think we have a president who has a small chance of responding if and only if the people demand this. (as opposed to the last two presidents). i am probably wrong; obama's actions have been completely consistent with the goldman sachs agenda to date. but, as frank rich said in the times this morning, this is his katrina moment. he missed the chance to evacuate the city; but he can still save the people trapped and dying.

this is about the last chance. if the people recognize the facts. if we/they demand that it stops. if the president chooses the people instead of the bankers. and then, if it is not too late, that too many trillions have not already been stolen to make recovery impossible. man, that is a lot of ifs. but that is how far toward economic collapse we have traveled. only a series of improbable events, combined, can prevent failure of our economy.

specifically, maybe we will stop accumulating public debt before it is too much for us to even afford the interest payments, and too much for us to ever pay back. and/or that we stop debasing the value of the dollar, before the world rejects it as a viable currency. failure of the dollar as a currency, and/or default/repudiation of the national debt.

these things might be avoided if we turn a 180. they might happen anyway; even if starting tomorrow our leaders do everything right, they could fail. however, if we do not reverse policy, and very soon, these outcomes are inevitable.

i remain hopeful and optimistic. barely. only because it doesn't cost anything to hope for the best, as long as you take actions to prepare for the worse. but if the worse is on the way, it should now be obvious to anyone and everyone who takes the time to listen and think, to clearly see it coming.

baseball  

Posted by howard in nyc in ,

in case anyone is reading this mess, i will be selling individual game tickets for the san francisco giants on this site. as the season approaches, more information, right here. now, hereeeeeee's timmay!



 

Posted by howard in nyc



















hayek got inflation by the balls.