The crash in real estate among the very rich who were NOT part of the Wall Street cabal is a fine indicator of “relative valuations.” Bottom line: Everything is worth 50% less now in “real dollars,” and will be worth even less as the US dollar continues to devalue.
In other news of idiocy run amok, we have the Austrlian government bent on censoring the Internet–that’s right up there with those who want to be able to close down the US Internet “in case of emergency”.
Australia will try to censor the Internet
THE AUSTRALIAN GOVERNMENT has decided that the land Down Under will become the only Western Democracy to attempt to censor the Internet.
Despite warnings that the government is committing political suicide and the technology will not work, the Rudd government is screaming for the same controls over its citizens as Communist China.
It is insisting that filtering a blacklist of banned sites will be accurate and won’t slow down the Internet.
Meanwhile, signs of Intelligent Life still active:
James Bernard Quilligan on The Commons and Integral Capital.
“The global economic crash is very big news. But what the media headlines and reports do not mention is how deeply this crisis is rooted in our history. During the past several centuries, businesses and government have become enmeshed in a single system. State capitalism now exists in virtually every sovereign nation. These Market States distribute the benefits of a decent quality of life, rule of law and political security to their people—a great advance on pre-modern economies where most land and resources were held in common under fragile political conditions. Yet it is increasingly clear that, as a model for social transformation, the Market State rests on crumbling foundations. Our traditional commons still have much to teach us.” Full article: The Commons and Integral Capital (617 KB)