2008-11-21

Understanding the Greater Depression

Want to get a better foundational understanding of the Greater Depression that we have now entered? Here are a few blogs I’d suggest you read every day or at least a few times a week.

Sites which focus on the economic system specifically:

Chris Martenson

The Automatic Earth

The Market Ticker

Sites which discuss a broader range of issues (peak oil, self reliance, homesteading, climate change, suburbia…) related to the current collapse and what will follow:

Casaubon’s Book

The Archdruid Report

Club Orlov

James Kunstler

Here’s a little sample from November 7 post from

The Automatic Earth: Debt Rattle: Hocus Focus:

Obama’s chief of staff is a former Freddie Mac board member and fervent supporter of the invasion of Iraq. Many of the ‘experts’ are, or have been, Goldman and Citigroup execs. These people like the power and the money they have gathered while driving the economy into the ground. They’re not going to give that up just to build a financial system that would better serve the people. They’ll build one that best serves them.

Sure, some loose ends will be tweaked, but mostly they’ll spend the nation into a depression by attempting to salvage corporations that would have long since died if it were not for America’s 21st century version of Mussolini’s corporate fascism, and the unlimited access to the public trough it provides.

The broke man in the street will be broker, until he’s broken, until he lives in the street, his last hard earned penny squeezed from his hands and dumped into banks, insurers and carmakers that have zero chance of ever turning a profit again.

The taxpayer will be taxed, and will be forced to pay until (s)he can pay no more, if need be at the barrel of a gun, until (s)he no longer has a job, a home, dignity or a future. And then the growth machine will spit her out. Whoever can’t produce or consume is a write-off.

We’ve spent too much, and now we’re broke. Let’s spend more, and lots more, ‘cause then we will be whole again. Double or nothing, it’s all we know.

The dice will come up nothing.

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