Gordon Cook: On the State of Economics – An Exchange Dedicated to #OWS and Society Achieving a Broader Understanding

Here is the final paragraph from an essay by John Kay titled The Map is Not the Territory: An Essay on the State of Economics The preposterous claim that deviations from market efficiency were not only irrelevant to the recent crisis but could never be relevant is the product of an environment in which deduction …

Mini-Me: Army of Unemployed Persistent Structural Issue

Army of unemployed is now entrenched in U.S. Commentary: Structural woes in economy creating ‘permanent underclass’ Howard Gold Wall Street Journal, 14 October 2011 The public knew this much earlier than economists or pundits did, and as for politicians — don’t ask! . . . . . Listen to Charles Plosser, president of the Federal …

John Robb: The Pope of the Church of Capitalism / Capo of Government-Sanctioned Financial Terrorism

JOURNAL: The Pope of the Church of Capitalism Let’s step a bit outside of the day to day grind.  I spent a bit of time watching the Chairman of the Federal Reserve “scold” Congress.  This got my brain thinking a bit outside the box.  So I’ll share with you my thoughts. The Chairman of the …

Mini-Me Greek Default both Inevitable and Necessary

Mini-Me:  Not only is the Greek default both inevitable and necessary, it may be the best possible catalyst for a new financial system combined with a massive global legal attack on Goldman Sachs, Morgan Stanley, and others that–with the full complicity of the US Government–“exploded” the global economy.  Cases are starting to pop up that …

G.I. Wilson: Killer Drones, Moral Disengagement, + War Crimes RECAP

The Psychology of Killer Drones – action against our foes; reaction affecting us G. I. Wilson Fabius Maximus, 28 September 2011 Summary:  We now have enough experience with drone warfare to study its effects.  Just as in physics, our actions affect ourselves as well as our targets. Social science research shows that drones are a gateway to moral disengagement dehumanization, …

John Robb: China’s Growing Spy Threat + China RECAP

China’s Growing Spy Threat Alex Newman The Diplomat, 19 September 2011 The Chinese government’s ‘vacuum cleaner’ approach to espionage is worrying foreign governments, companies and overseas dissidents. They’re right to be concerned. Read 5 screen article. Phi Beta Iota:  China graduates more honors students from high school than the USA graduates from high school across …

Review (Guest): Confidence Men – Wall Street, Washington, and the Education of a President

Ron Suskind From Product Description: The new president surrounded himself with a team of seasoned players—like Rahm Emanuel, Larry Summers, and Tim Geithner—who had served a different president in a different time. As the nation’s crises deepened, Obama’s deputies often ignored the president’s decisions—“to protect him from himself”—while they fought to seize control of a …