Ohio and the Heart of Corruption

Readers: Please, notice the awarding of the Milton Friedman Prize for Faith Based Economics. This award will be granted to events, politicians, and economists that are clearly above and beyond normal levels of wishful "thinking" to such an extent that we need to make special notice.  The passage of  the option of establishing four new casinos in Ohio, is a clear departure from twenty years of voting down similar proposals.

States Commence the Inevitable “Tobacco” Litigation Against Banks — Arizona Leading

Readers: The proposed gambit by state attorney generals is what should be called "cooling the mark."   It is essentially a confidence game based in politics, rather than the prosecution of the perpetrators of fraud on a planetary scale.  This gambit protects the perpetrators, who are no doubt well connected, because they are effectively peers of the politicians.

The Paradox of Wealth: Capitalism and Ecological Destruction

By John Bellamy Foster and Brett Clark

Retailers ‘Dodge Bullet’ With CIT’s November Bankruptcy Filing Share Business Exchange

Readers: Although this is a positive bit of news for the US's retail economy, it leaves some important questions unanswered. One being why has the US Treasury Department been entirely MIA in this process, when the importance of CIT to the non-Wall Street part of the US economy is enormous? The fate of CIT is possibly much more important generally than the survival big five on Wall Street. Another might be how is letting  CIT pass into bankruptcy acceptable when the wholesale rescue of AIG from collapse was not acceptable?

How Goldman Secretly Bet (by CDS) on the US Housing Market Crashing

Sunday 01 November 2009    by: Greg Gordon | McClatchy Newspapers

also found at

Lessons Unlearned By Henry CK Liu

Readers: Henry C.K. Liu is a major economist who is outside of conventional economics in that he makes more sense by far than most of the "free market/Neo-Classical" courtier economists. He, as far I have been able to discover, has not published any books, though he has written enough related articles to fill a shelf by himself. He is also a multi-dimensional economist in that he is at home within international finance and political policies and within historical contexts.

Tragedy of the Commons as a Myth

Reader: While this award as related to the issue of the Commons is applauded, as with the awarding of the Nobel Peace Prize to PotUS B. H. Obama without demonstrating really any related accomplishments, I believe that this recognition will be turned on its head and into a justification for deregulation, by the ideology based economists, which still represents the majority. The shift to a commons based economics is going to require the establishment of a commons related set of values and culture, or the tragedy will be enlarged.

TARP on Steroids (Why not, the courtier economists and the politicians are still on the take, and ...)

Reader: The wag's definition of insanity is the tendency to repeat behavior with increased loyalty that has not yet produced the desired effects. Both the premise of the expansion of executive power, in daft admiration of GB Jr's grand fantasies of potency and the premise that Wall Street banking defines itself as the whole basis of the economy will take us down the wrong path, toward more financialization. This process will produce profits for the brokers and their mis-managers and turns the rest of the sovereign population into serfs.

US Steelworkers Form Collaboration with Mondragon Federation of Cooperatives

Readers: This is an interesting piece of news. Hopefully, this will accomplish more that the much vaunted Apollo Project which has been in existence for several years now, and hasn't produced much more than a website and a lot of fanfare. This is quite a test for Mondragon as well.

"The End" by Michael Lewis who wrote Liar’s Poker as an expose of Wall Street's Culture of Greed

Readers: This article is about a year old at this point, and is still worth reading. It is written in a conversational and story telling style and is an easy read.

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