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Today’s Conclusions, 7/27/11
- For the moment at least, if I empty my mind of everything and Zen out and just let the first image/word come to me it’s “Blood Colossus”. Keeps happening. “Blood Colossus”
- If I could figure out how to build a device that would give me an electric shock every time I start reading the comments section on a blog post or video, then I might be inspired to pick up my soldering iron again.
- <insert daily reminder that this ‘debt ceiling’ nonsense is a great ugly fog horn signaling the poisons beyond purge in American culture and politics here>
- SUMMON THE BLOOD COLOSSUS!
Department of Education uses SWAT team to help recoup student loans by breaking into home? »
Reality marches closer to the absurdity in “Investment Banking in Reverse”
(thanks, ghost)
Also, original article appears to have been removed?
Dolan’s story already wasn’t too far from the approaching truth. Now we can see that truth is approaching faster. harder. (louder? stronger? stradster? louger?). And yeah, full text of the article mysteriously disappeared, but you can find it here behind this hypertext
jhnbrssndn: buffleheadcabin: merkatroid:
Whether you know all this or not, you’ll have a refreshed & clear model of the stupid mess Wall St. & the banks got us all into. Once missing piece: it’s deregulation of the financial sector, pioneered by the Regan Administration, that allowed this scheme to rise & fester.
This should be paired w/ the documentary Maxed Out: Hard Times, Easy Credit and the Era of Predatory Lenders (2006) (available on YouTube, at least for now) to see how this system
- has been in place for some time
- is still in place now
- was facilitated by so-called “fiscally minded” politicians, especially George W. Bush’s administration and its partnership with MBNA.
- has made victims of honest, normal, hard working, and intelligent people (defying the common claim from financial types that the crisis is on the shoulders of “idiots” who were taking on more debt than they should have signed up for).
- creates a system of bankers/debt collectors completly incapable of recognizing how they are destroying the lives of other human beings … you’ll notice that the debt collector who has the most heart and understands his clients as human beings in a tight spot is the man who runs a pawn shop.
“ Amazing. The world’s greatest debtor is going to take on the two powerful countries with the largest trade surpluses. According to the World Factbook, an annual publication of the CIA, Russia’s 2007 current account surplus is $465 billion and China’s is $363 billion. In contrast, the US current account deficit is $987 billion—an amount larger that the total deficits of all other countries in the world combined. The out-of-pocket and already incurred future cost of Bush’s wars of aggression is between $3 and $5 trillion, every dollar of which must be borrowed. That comes on top of the unfunded liabilities of the US government totaling $53 trillion. By any account the US is the world’s worst credit risk. The “mighty” US relies on foreigners to finance its consumption, its wars, and the daily operations of its government.
—
5.13.08
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Paul Craig Roberts (via azspot)
This is the sort of thing that scares me more than terrorism.
