Items of Interest:
James Howard Kunstler:
Marching Toward Zombieland --
The sense that Wall Street has pulled off a coup d'etat and taken over the machinery of the United States is the most powerful meme out there now, and its power is growing in magnitude every day among all classes of Americans...
----The Mess That Greenspan Made:
More reasons to hate big banks --
numerous people who have been notified by Citibank in recent days that the interest rate on their credit cards is soaring to almost 30%...
Guest Post: Capitalism, Socialism or Fascism? -- Consider:
- The government has given trillions in bailout or other emergency funds to private companies, but is largely refusing to disclose to either the media, the American people or even Congress where the money went
- Congress has largely been bought and paid for, and two powerful congressmen have said that banks run Congress
- The head of the Federal Reserve Bank of Kansas City, the former Vice President of the Dallas Federal Reserve, and two top IMF officials have all said that we have – or are in danger of having – oligarchy in the U.S.
- Economist Dean Baker says that the real purpose of bank rescue plans was “A massive redistribution of wealth to the bank shareholders and their top executives”
- The big banks killed any real chance for financial reform months ago
----Tent cities growing:
Marc Faber, publisher of the Gloom, Boom & Doom Report, talks with Bloomberg's Deirdre Bolton and Erik Schatzker about the performance of the dollar and U.S. economic outlook.
Faber also discusses the outlook for equities, the correlation between the dollar and the stock market and the fiscal position of the U.S. which he describes as a "complete disaster" and "Dollar Will Go To A Value Of Exactly Zero" ...