I found these links via Digby:
The #Money Thing | Stirling Newberry’s blog
I found them both depressing. Not so much for me but for my 20 month old daughter. Stirling Newberry takes a larger cross-national macro view of things, while The Agonist goes a bit more in depth about the pernicious effects of buccaneer capitalism.
I worry about what kind of world will be left behind after the locusts of finance have finished feeding off the work of decades while adding nothing of value? Thus far they’ve managed to fix the rules to allow equity to be stripped from businesses, then homes, and now taxpayers. Right now this massive wealth transfer to banks is financed by debt, mostly purchased by overseas investors. Eventually the well will run dry and the whole house of cards will collapse.
I think perhaps the next big investment for our financial elites should be in food, water and private armies. Blackwater are you listening? Eventually, perhaps after scratching for food from their trash cans for a while, the public will wake up. Once it become clearer what happened and who benefited from it, the rent-o-cop at the gate of the exclusive private community isn’t going to do any more. They’ll need military firepower and lots of it to hold on to what they taken.
As I said it’s depressing. Maybe I should take what I have left out of the 401k and open a nice little business somplace else in the world. America is clearly in the midst of a long decline.
