Why are we in such a financial mess today? There are lots of proximate causes: over-leverage, global imbalances, bad financial technology that lead to widespread underestimation of risk.
But these are all symptoms. Until we isolate and tackle fundamental causes, we will fail to extirpate the disease. ECONned is the first book to examine the unquestioned role of economists as policy-makers, and how they helped create an unmitigated economic disaster.
Here, Yves Smith looks at how economists in key policy positions put doctrine before hard evidence, ignoring the deteriorating conditions and rising dangers that eventually led them, and us, off the cliff and into financial meltdown. Intelligently written for the layman, Smith takes us on a terrifying investigation of the financial realm over the last twenty-five years of misrepresentations, naive interpretations of economic conditions, rationalizations of bad outcomes, and rejection of clear signs of growing instability.
I completely missed the release of this film in July, and stumbled on it while picking movies for a sick son.
It opens with Henry Kissinger, since demonstrated to be a war criminal, calling Daniel Elsberg the most dangerous man in America, and lamenting the release of secret documents (that ultimately proved government perfidy). Fast forward to WikiLeaks as a sequel to the 935 documented lies led by Dick Cheney.
I almost did not buy this book because I know all this stuff already, but out of respect for the author, who is one of a number of individuals including Jim Fallows, William Greider, Matt Miller, Margaret Wheatley, and Tom Atlee that I consider deeply ethical and inspired, I went ahead and bought it.
As expected, the book is a straight-forward, easy-to-understand “checklist” of eleven things in eleven short chapters, that will “save America.” This is where the book almost lost a star, because as good as the list is, it lacks both context and detail–there is nothing wrong with America that cannot be fixed by restoring the Constitution and demanding Electoral Reform legislation by 4 July 2011–and Thom, brilliant as he is, has not connected to the idea of Collective Intelligence and the urgency of harnessing the distributed intelligence of our Commonwealth.
Here is the “checklist” with very short critical comments.
In her newest book, former Alaska Governor Sarah Palin sharply criticizes the record of President Barack Obama while defending her own, in the process offering an unapologetic vision of conservative politics that strongly suggests a forthcoming presidential run.
“America by Heart,” which will be officially released on Tuesday (The Huffington Post obtained an advance copy), exhibits Palin in a variety of roles: culture warrior, presidential critic, committed mother and political provocateur. Clocking in at roughly 270 pages, it reads, at times, like an episode of Glenn Beck's Fox News show. Lengthy quotes and historical research is threaded, often, around contemporary political debates. In the mind's eye of the former governor, the founders, were they alive today, would be nothing short of Palin devotees — and they would certainly be shocked by Obama.
The president makes infrequent appearances in Palin's book, but when he does surface it is in an unflattering light.
“There is a narcissism in our leaders in Washington today,” Palin writes. “There's a quasi-religious feeling to the message coming from them. They are trying to convince us that not only are they our saviors, but that we are our saviors… as candidate Obama proclaimed on Super Tuesday 2008, ‘We are the ones we've been waiting for, we are the change that we seek.'”
Obama, as Palin posits, is neither providing the change that was sought nor fulfilling the role of savior he supposedly promised. Instead, he is cast as a wealth re-distributor, a sly practitioner, and, above all else, a politician with policies antithetical to American values. This is true, she argues, on matters large and small.
This book is offered at Amazon for under $17.00, or at Truthout where one can read an Excerpt and if desired pay $35 as a donation and receive the book from there.
Amazon's Look Inside feature has been activated for this book, the table of contents and other visible materials should help with respect to the decision whether or not to buy.
Unquestionable a great book, with one big missing piece: it does not follow the money back to Wall Street. Buckminster Fuller understood in the 1960's that the White House had become theater, I did not understand his meaning until the economic meltdown and my noticing that Goldman Sachs has provided the Secretary of the Treasury for the last six or so Administrations.
The Tea Party, a grand mix of idealistic individuals who really think they have a shot at making a difference, is funded by the Koch Brothers, and all the other wing-nuts this book discusses all have financial underpinning that serve a purpose: to create theater. They are the American version of a political circus that keeps people's eyes off the raw fact that the US is a two-party tyranny with election manipulation so embedded that we no longer qualify as a democracy according to international standards.
NOTE: To investigate funding yourself, just search, my preferred search portal is Duck Duck Go, for <Koch Tea Party funding>
Wing-nuts is an “order of battle” for the extremist fringe, but it does NOT explain why the US government and US economy are in the toilet. For that we need just one word: INTEGRITY (lost).
The wing-nuts are getting their time in the sun because the extreme wealthy that have hollowed out America, exported all the skilled jobs, allowed illegal immigration so they could pay even less for unskilled labor, are now nervous. Bush Junior did his eight, Obama gave Wall Street four more years, right now the best that Wall Street can think of is making the next four years a complete circus.
`All that is necessary for the triumph of evil is that good men do nothing' (or words to that effect). Edmund Burke and Justice Brandeis are both cited on this one. It says a lot when two comedians make more sense and demonstrate more integrity than all of our Senators, Representatives, and Executive Branch officials. Perhaps it really does take a comic (or two) to save a Nation.
Just one of many books supporting my suggestion that this is all theater:
You can find all of my non-fiction reviews sorted into 98 categories at Phi Beta Iota the Public Intelligence Blog. I have also created lists of reviews (e.g. corruption, education) and two master lists. The negative list is everything that is wrong with America and the world, the positive one everything that is right or could be right. Both those lists are also at the Huffington Post. It's time to restore the integrity of our Republic, that must of necessity begin with Electoral Reform.
I cannot over-state the value of this book to anyone who has a complex and expensive problem but cannot afford to get the author there personally. While the book is no substitute for the genius, the intuition, the experience, and the sheer “quiet energy” that the author can bring to any endeavor, it is not just a starting point, it is more than enough to get you through your first self-organized event, and the results are sure to astonish as well as excite about the potential benefits of having the author lead the next session.
Here is how it works in a nut-shell, and I put this into the review because I am not happy with the minimalist marketing information the publisher has provided but happy that Look Inside the Book is activated–use that feature!
1) Everyone who cares is invited to a meeting in a space large enough to accommodate the group. Many events will charge a fee to cover the space, the food, and the travel costs of the facilitators, some events can be free especially if internal. HOWEVER, the diversity of who is invited (i.e. including outsiders, clients, journalists, the lowest ranking maintenance people), THIS MATTERS….A LOT.
Stunningly Relevant Today and Always
Theater–Follow the Money to Understand
