Deregulation had built the church and seed money was needed to grow the flock. We're all Keynesians onthe way down. Bubbles are to the industries that host them what clear-cutting is to forest management. The housing bubble has left us in dire shape.
A weekly 30 minute review of news and opinion, recorded from a shortwave radio. With times and freqs for listening at home. 2 files- broadcast and slow-modem streaming. Free to rebroadcast. China, Netherlands, Cuba, and Russia.
"Truth is the first casualty in war." (Aristotle) "The swan that floats and doesn't sink represents the intransitory in the transitory." (Heidegger) "Every war has two losers." (Wm Stafford) We are called to resist normalization of war and militarization of foreign policy.
What began with cheap money for American homebuyers has expanded to the greatest financial market crisis since the war. The whole extent of bad credits with banks is not yet known, let alone the effects on the world economy. $500 billion worldwide may have dissolved in thin air.