In 2008, the country’s financial system suffered an epic breakdown, largely the result–as nearly
Thomas Frank’s inscription (Photo credit: liberalmind1012)
every credible observer agrees—of the decades-long effort to roll back bank supervision and encourage financial experimentation. The banks’ stumbled quickly plunged the nation and the world into the worst recession since the thirties. This was no ordinary business downturn, Millions of American, and a large number of their banks, became insolvent in a matter of weeks. (Thomas Frank)
These are confused times, a period when Americans rose up against imaginary threats and rallied
Painting by Anton Losenko, 1762 (first miracle) (Photo credit: Wikipedia)
to economic theories they understood only in the gauziest terms. It is about a country where fears of radical takeover became epidemic even though radicals themselves had long since ceased to play any role in the national life; a land where ideological nightmares conjured by TV entertainers came to seem more vivid and compelling than the contents of the of the news pages.
Seen from another perspective, this is a conical of a miraculous time, of another “great Awakening,” of a revival crusade preaching the old-time religion of the fee market. It’s the story of a grassroots rebellion from the gloomy depths of defeat. Inevitably the words “populist” and “revolt” are applied to it, or the all out phrase chosen by Dick Armey, the Washington magnifico who heads one of the main insurgent organization: a “true bottom-up revolution.” Continue reading →
Have you ever heard the phrase, “if I had a nickle for every time….”.
Well, OK. It’s an old one. Originated at a time when you could actually buy something for a nickle. Well, yeah I can still remember a time that when you could actually buy five pieces of candy for a nickle. They weren’t individually wrapped and the little old lady at the counter didn’t wear a plastic glove and most times you found the pennies laying in the street, in the dirt and grim. Mmmm licked your fingers when you were done.
But what I really want to talk about is “I love you”.
If I had a penny for every time someone in the world said “I love you”, today. How much money would I have? Continue reading →