The New Boom-Bust Cycle (Slate - The Net)
By Daniel Gross
If you're waiting on housing and finance to get us out of the mess they caused, then you better pull up a comfortable chair and a bag of popcorn, because it's going to be a long wait. Just as regulators always fight the last battle--regulating accounting after the dot-com meltdown, promising to regulate derivatives now--analysts always look to the last boom to cause the next one. The new reality is that the sector that dragged the economy down is never the one to lead the recovery. (...)
Another good article...
The recession tracks the Great Depression (Financial Times - U.K.)
By Martin Wolf
Green shoots are bursting out. Or so we are told. But before concluding that the recession will soon be over, we must ask what history tells us. It is one of the guides we have to our present predicament. Fortunately, we do have the data. Unfortunately, the story they tell is an unhappy one.(...)
Urban Survival...
At some point, I rather expect a series of mega disasters. Why? The crooks who orchestrate things behind the scenes in the financial markets will need something BIG to cover their crimes and put the public off their scent.
What they don't want leaking out is the notion that printing up paper with nothing more than ink and a promise doesn't work very well as a long-term store of value. Which is why a steak dinner in the days before the Federal Reserve cost $1 dollar. today, it's 20-times that which means the purchasing power of money has been watered down twenty-times-over since 1913. Well, more actually, but it's all hidden in plain sight behind the big lie "Prices Go Up!"
Truth is that "Money is being watered down." Irwin Allen couldn't cook up a bigger disaster movie. titles like "The Poseidon Derivative", or "Towering Bankferno" rush to mind.
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