Newspapers and Thinking the Unthinkable
by Clay Shirky
A fascinating and observant piece examining and articulating, in a much larger context than you have read anywhere else before, many of the reasons newspapers are destined to become extinct.
The Global Oil Scam: 50 Times Bigger than Madoff
by Philip Davis
I have been discussing off-line how just about every system (you name it) in America is either corrupted, broken, or both. About how everything is being gamed, from cell phone contracts to overly complicated mortgage contracts designed to trip you up so they can fee you. Unregulated exchanges and securities (e.g. CDS) are not meant for your prying eyes, nor can you participate. But the exact same sort of churn employed in ICE is very much in evidence today (if you look closely) in the rapid rise of the stock market the last six months. How else can it be explained when the most active stocks traded during this period are zombie banks and fraught-with-fraud GSE’s? So, no surprise, oil prices are kept artificially high using the same method: the churn. What can one do? Do what I do: starve the beast.
Did Christianity Cause the Crash? by Hanna Rosin
Cause or affect?
“America’s mainstream religious denominations used to teach the faithful that they would be rewarded in the afterlife. But over the past generation, a different strain of Christian faith has proliferated—one that promises to make believers rich in the here and now. Known as the prosperity gospel, and claiming tens of millions of adherents, it fosters risk-taking and intense material optimism. It pumped air into the housing bubble. And one year into the worst downturn since the Depression, it’s still going strong.”
THE LLOYD’s Prayer
Who Art At Goldman,
Blankfein Be Thy Name.
The Rally’s Come. God’s Work Be Done
On Earth As There’s No Fear Of Correction.
Give Us This Day Our Daily Gains,
And Bankrupt Our Competitors
As You Taught Lehman and Bear Their Lessons.
And Bring Us Not Under Indictment.
For Thine Is The Treasury,
The House And The Senate
Forever and Ever.
[ The Big Picture ]
Amazing Pictures, Pollution in China
New Form of Indentured Servitude @ The Confluence
I have to ask what it is wrong with this country? It seems to pushing its poor to the brink of destruction during a time of when its also funding (through direct funds and also extremely low interest rates) arbitrage profits for the already rich at places like Goldman Sachs. We might as well just call them all Princes and call ourselves the new corporate serfs because we’re going to be paying for our indentured status for some time under what’s going on right now. We’re tithing for the benefit of huge financial institutions be they investment bankers, insurance, or mortgage brokers. They’ve become the residents of the neoGothic cathedrals of the 21st century dark ages of America.
I often ruminate about when it was that humankind first realized that sex created babies. The obvious extension of that is, how come nobody could be bothered to tell my parents?