"today the issue is the rule of law - the absence of which from banking is destroying the USA as effectively as a foreign invasion."
And To All a Good Night By James Howard Kunstler
on December 20, 2010 8:50 AM
At this time of year, who can fail to understand the wish to forget all the woes and fiascos of our time, and to retreat into the cozy firelit nooks of Christmas, where a pint or so of grog, or egg-nog, or even seven fingers of Williams 'Lectric Shave in an empty jam jar might avail to wash away the frightening specters of debts, and banks, and, trade imbalances, and countries with economies composed mostly of losses?XX
XX For now, America is a rug stretching from Maine to California, under which we've swept the filthy detritus of money matters and governance. It worked most of the year, though the rug has grown as lumpy as a landfill. Nothing is more important for the moment than provoking millions of people with no means for carrying their current obligations to ply the malls in search of Christmas merchandise, so the little ones will not be disappointed on the Great Day. Who could fail to understand this, too, since the sorrows of children only magnify the failures of the adults who love and fear for them.
XX President Obama's tax deal with the corn-and-pork-fed mental defectives of the Red States has been spun into an historic act of political ju-jitsu - a sharp trade to great advantage for the slick city operator against the avaricious rubes - but to me it was just another act of Santa Claus Theater. You have to love the conceit that all this fuss about money is finally settled. So we can settle back in the raptures of flat screen high-def 3-D TV and imagine that we're like the characters in Frank Capra's It's A Wonderful Life - which, by the way, in case you never noticed, is a story about a banker who gets into big trouble financing the first larval manifestations of suburban sprawl. If only Frank Capra had lived to see the Federal Reserve's Maiden Lane portfolio, a sack of sh-t so monumental it would make the fabled swag-bag of Kris Kringle himself look like the descending colon of a pygmy marmoset.
XXXAnyway, both parties are vying for a place in the graveyard of politics, and this is how it should be. Life is tragic, nothing lasts forever, and these two hoary old orgs are so far gone in corruption and cupidity that it would be hazardous to not bury them as fast as possible. If the USA is as resilient and resourceful as it pretends to be, then we can confidently come up with something better.
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