A smorgasbord for you today.
Los Federales are bailing out Citi. I'd rant about Crony Capitalism run amuck and the destruction of Free Enterprise, but why? We have sunk so deeply into the morass of moral hazard (in regards to the banks and finance companies) that what use is more indignation? The same geniuses who used to hector the Japanese about letting their "Zombie Banks" stay afloat instead of letting the "magic of the markets" flush out the dead are investing in Voudon zombie dust themselves these days. We are all Papa Docs these days in the U.S. Ponzi Finance sector.Zombie Economics
by Jim Kunstler
Though Citicorp is deemed too big to fail, it's hardly reassuring to know that it's been allowed to sink its fangs into the Mother Zombie that the US Treasury has become and sucked out a multi-billion dollar dose of embalming fluid so it can go on pretending to be a bank for a while longer. I employ this somewhat clunky metaphor to point out that the US Government is no more solvent than the financial zombies it is keeping on walking-dead support. And so this serial mummery of weekend bailout schemes is as much of a fraud and a swindle as the algorithm-derived-securities shenanigans that induced the disease of bank zombification in the first place. The main question it raises is whether, eventually, the creation of evermore zombified US dollars will exceed the amount of previously-created US dollars now vanishing into oblivion through compressive debt deflation...
Jeff Vail has Part 3 of his "Reslient Suburbia" series up:A Resilient Suburbia 3: Weighing the Potential for Self-Sufficiency
...this post will look at the potential of suburbia to produce some degree of self-sufficiency in food, water, and energy. At one extreme, if suburbia can sustainably produce 100% of the food, water, and energy, then the prospects are excellent for a resilient suburbia.
While true self-sufficiency may be theoretically possible, I don’t think this goal is realistic. Some degree of self-sufficiency, however, is possible. While the majority of this post will address the potential, and challenges, of attaining different degrees of self-sufficiency, there are two additional issues that must be addressed...
And just a quick recap of the recent memeering efforts by the Powers That Be:
- The Big 3 Automakers flew from Detroit in their Private Jets! Bad, bad. (No mention, of course, in any of the diatribes I read about how the big finance playerz arrived in D.C. Via the train, I'm sure...)
- The bailout of Citi is great for the stock market!
- Been seeing some chain emails already blaming Obama for the coming collapse. He'll play his part, of course, but it looks like he is being set up as a useful dupe. Definitely keep an eye on this one - if the chain emails (you know the ones I mean) start getting a violent edge to them, watch the hell out.
One this I do find interesting though, is that there are a lot of cross-currents. I think the various big playerz in finance, industrial ag, manufacturing and various government cliques are splintering in this time of fiscal crisis. Definitely keep an eye out here. Normally, all the big playerz have a lot of general interests in keeping the proles stupid and happy - but the money to fund all this stuff is vaporizing before their eyes. The messages matter. Compare and contrast the words used by Fox, CNBC, MSNBC, et al and look for the patterns and the fissures.
I'll try to get a few more posts up before traveling for Thanksgiving. Thanks for taking the time to drop in and read this stuff. Have a great Thanksgiving.