... diggin'. Killin' ducks! [more]
On March 25, ConocoPhillips (COP) CEO Jim Mulva admitted that pursuing new oil reserves just doesn't pay. The remaining resources have become too marginal and too expensive, and the competition for them has become too intense. [more]
... we only need law enforcement for unsophisticated criminals.
Full context here:
Will Goldman Sachs prove greed is God?
The investment bank's cult of self-interest is on trial against the whole idea of civilisation – the collective decision by all of us not to screw each other over even if we can
... "here and now" exposé:
If we were to take an honest look at America’s blasted landscape of “losers” and the far shinier, spiffier world of “winners,” we’d have to admit that it wasn’t signs of onrushing socialism or fascism that stood out, but of staggeringly self-aggrandizing greed and theft right in the here and now. We’d notice our public coffers being emptied to benefit major corporations and financial institutions working in close alliance with, and passing on remarkable sums of money to, the representatives of “the people.” We’d see, in a word, kleptocracy on a scale to dazzle. We would suddenly see an almost magical disappearing act being performed, largely without comment, right before our eyes.
How Fears of Socialism and Fascism Hide Naked Theft
The Wall Street Journal reports that your Congress is considering measures that would "improve transparency and reduce risk in the derivatives market." It is not surprising that there are obstacles to such reform. The Republicans oppose anything that might make the Democrats look good. The Big Banks oppose anything that might intrude upon their Privatize The Gains, Socialize The Losses (PGSL) business model and thus restrict their ability to take crazy risks to make obscene amounts of money. [....]
The Derivatives Shell Game
"The gauge of an economy's strength is based on the income of the wealthiest 1% of the population." - my personal quote since, oh, January 30, 1998. [more]
... we are rapidly becoming a third-world country, cannibalized by corporations, with two-thirds of the population facing financial difficulty and poverty.
The system is broken. And the consumer advocate who represented the best of our democracy was broken with it. As Nader pointed out after he published “Unsafe at Any Speed” in 1965, it took nine months to federally regulate the auto industry for safety and fuel efficiency. Two years after the collapse of Bear Stearns there is still no financial reform. The large hedge funds and banks are using billions in taxpayer subsidies to once again engage in the speculative games that triggered the first financial crisis and will almost certainly trigger a second. The corporate press, which abets our vast historical amnesia, does nothing to remind us how we got here. It speaks in the hollow and empty slogans handed to it by public relations firms, its corporate paymasters and the sound-bite society.
How the Corporations Broke Ralph Nader and America, Too
... every day on cable ...
Mighty America's 5 stages of rapid decline
Jim Collins' danger signals: But can we halt the collapse of capitalism?