Or, for the more morbidly minded, perhaps I should title this post Diane’s Depression Reading. (Now who’s become the hostile pessimist? Bwaa-aa-aaaa…) Brand it what you will, the Great Depression took four long years to progress from the Crash of 1929 to the depths of despair. We are well along that path and perhaps moving to even greater depths as the credit-crises, inflationary-government-intervention, corporate-corruption, banker-bailout-by-the-unwitting-American-taxpayer bloodbath continues…
Maybe it Really is a Depression: Though no one wants to admit it, the signs are pointing that way.
Scenes from the Recession: If you still insist on calling it that. Check out this chilling slideshow.
There’s No Pill for This Kind of Depression: A pervasive sense of anxiety grips the American people.
Escalator of Life: America is Going Down. Suckling on the teat of the government… is that what we really want?
Economy in the Eye of the Hurricane: $20 trillion in America wealth up in smoke while savers stuck with the bill.
Is this the End of America? Or simply Canadian pundits gone wild?
What Demographics Tell Us About the Economy: The cards are stacked against consumer spending, economy should focus on exporting to countries with 46-50 year old spending populations, and homeowners should plan to stay in their homes for the next decade or so.
Beijing isn’t Washington’s Banker; Try its Grocer: Think the Chinese won’t bail on US Treasury Bonds? Some food for thought.
Soon There May Be Nobody Left to Lend to America: The Chinese may not be as beholden to us as everyone would like to think.
Obama Should Beware the Growing Anger in America: Handing hard-earned taxpayer dollars over to corporate villains isn’t that funny.
The Collapse of the Next Economic Bubble: US Treasury Bills. Yeah, seriously.
Owners Skulking Away from Underwater US Homes: More and more people can’t wait for government bailouts they may not qualify for anyway.
Pay or Go? An impartial calculator to help you decide whether or not it’s worth it to stay in your underwater home.
Wayne County, Michigan, Foreclosures November 2008: Unbelievable video. As goes Detroit, so goes the rest of the nation?
Detroit: Living in Fear, Third World America: The lifestyle we can all look forward to when a community is completely bankrupt.
Abandoned Detroit Skyscrapers: The future of downtown Reno? America was built on the auto industry. As it fails, the ripples move outward.
Surviving Inflationary Depression: Wow. Think of the possibilities.
The Big Takeover: It’s over. We’re officially, royally fucked. (Thanks to billthedrummer for the link):
"The people who have spent their lives cloistered in this Wall Street community aren’t much for sharing information with the great unwashed. Because all of this shit is complicated, because most of us mortals don’t know what the hell LIBOR is or how a REIT works or how to use the word ‘zero coupon bond’ in a sentence without sounding stupid — well, then, the people who do speak this idiotic language cannot under any circumstances be bothered to explain it to us and instead spend a lot of time rolling their eyes and asking us to trust them.
"That roll of the eyes is a key part of the psychology of Paulsonism. The state is now being asked not just to call off its regulators or give tax breaks or funnel a few contracts to connected companies; it is intervening directly in the economy, for the sole purpose of preserving the influence of the megafirms. In essence, Paulson used the bailout to transform the government into a giant bureaucracy of entitled assholedom, one that would socialize ‘toxic’ risks but keep both the profits and the management of the bailed-out firms in private hands. Moreover, this whole process would be done in secret, away from the prying eyes of NASCAR dads, broke-ass liberals who read translations of French novels, subprime mortgage holders and other such financial losers."
What more can be said? This is not the America our founding fathers envisioned. The Chinese are right. We are the Decadent West.
“When you see that trading is done, not by consent, but by compulsion — when you see that in order to produce, you need to obtain permission from men who produce nothing – when you see money flowing to those who deal, not in goods, but in favors – when you see that men get richer by graft and pull than by work, and your laws don’t protect you against them, but protect them against you – when you see corruption being rewarded and honesty becoming a self-sacrifice – you may know that your society is doomed.” – Ayn Rand, Atlas Shrugged (1957)
The Greater Depression: Opportunities Amid Crises. Sure, things look bad, but there’s opportunity in every market, including this one.