Jim Kunstler
It turns out the real hurricane blew through Wall Street last week, not Galveston. This morning, Manhattan is strewn chest-deep with the debris of banking and at this hour (seven a.m.) nobody knows how far, deep, and wide the damage will spread. The fear, of course, is that we are witnessing a classic "house-of-cards" or "dominos-in-a-row," situation, and that the death of Lehman Brothers and Merrill Lynch will cascade into a generalized collapse of the entire consensus of value that supports mediums of exchange.
At least one thing ought to be clear: this has happened due to the negligence and misfeasance of the regulating authorities, namely the Republican Party, and that now all the hoopla surrounding Sarah Palin can be swept away revealing that group to be what they actually are: the party that wrecked America. I hope one or two Barack Obama campaign officials are reading this blog. You must commence the re-branding of the opposition right now. The Republicans must be clearly identified as, the party that wrecked America.
Peacenik called for the economic collapse to occur last Friday but it looks like Peacenik is off by a day or two. Kunstler, the master of doom, certainly sees things coming to a head this week. Lehman's bankrupt. Merrill Lynch taken over by Bank of America. WAMU on the brink. Emergency meetings to try and save AIG one of the biggest American insurance companies. Stock exchanges cliff diving. Kunstler calls the Republican Party the party that wrecked America. This may be one time Kunstler is understating things. They may be the party, of free market bullshit beliefs, that wrecks the world as we used to know it. Peacenik wonders, are your GICs safe?
