The Giant Pool of Money

From the excellent This American Life’s Giant Pool of Money  podcast (you can download the transcript), Ira Glass got me thinking – why did GP members decide to uniformly halt handling any further securities? Or was it the singular act of few Arabs who pulled the plug on the sucker to reap massive benefits of the whirling pile of downward value – to concentrate wealth among the fortified few. Down collapse more trade towers when 777 hit. Obviously the SEC saw it coming as they forbade the practice of shorting stock many weeks in advance. But is the market failure an accident, a conspiracy, or an act of war?

On 9/11, Al Qaeda had no expectation of a traditional military victory against the United States.  The point of the attack was economic — to draw the U.S., as they did the U.S.S.R., into an expensive and protracted foreign wars that would deplete our resources and destabilize our government. Seven years after 9/11, we are seeing Al Qaeda’s long-term goal being realized: the destabilization and economic collapse of the United States. (more talk at O’Sullivan’s bar)

The failure of economic and military strategy may be unrecoverable. If we are to recover as a nation, we must return to the principles of accountable banking and the principled thinking about just military action.

UPDATE on Oct 6, 2008: The Giant Pool of Money 2 with Ira Glass.

Putin – He’s Rearin His Head at Me

Foreign policy is federal and not state business. Palin could have avoided her nonsensical commentary but felt compelled to testify to her enhanced foreign policy credentials. Her short version – we are next to Russia which is next to Alaska, next to Russia across from Alaska. The circular justification of proximity as policy expertise should rear any head. Putin must be salivating.

PALIN: “Our next door neighbors are foreign countries. They’re in the state that I am the executive of.”

COURIC: Have you ever been involved with any negotiations? For example, with the Russians.

PALIN: “We have trade missions back and forth, we do. It’s very important when you consider even national security issues with Russia. As Putin rears his head and comes into the air space of the United States of America, where do they go? It’s Alaska. It’s just right over the border. It is from Alaska that we send those out to make sure that an eye is being kept on this very powerful nation, Russia, because they are right there, they are right next to our state.”  - CBS - YOUTUBE.

Who are the Republicans running for office, McCain or Palin?

The Republicans are confused. Are they running John McCain or Sarah Palin? And which one do the Republicans expect Obama to debate? McCain’s fear of running against celebrities is portrayed best by Lisanova – more soulful than Tina Fey on SNL.

A real Palin drone speech generator worth a few clicks. Oh yes what if Sarah were president?

Feeling American, Acting

So how did you feel after watching the two parties nominating conventions? The Republicans still angry and divisive while the Democrat hopeful and unifying. I listened randomly to the Republican address by Carla Fiorina (former HP CEO), coated with metaphors of victories, division, war, and glory in the now so typical Republican harsh and mean-spirited voice. Like many Republican orators they shout commands and divide out those who follow orders without question – the rest of you go hunker down in that fear bunker. The convention difference is that of being told to get in line, rather than feeling lifted in an atmosphere of possibility for a country. Megaphone vs any other point of view. 

It is hilarious to see the party in power running as it if weren’t. Or put another way, to hear about Mavericks of change running against an independent thinker dedicated to change. For the last two years. If change from Bush is the issue, why is the party of Bush so intent on remaking itself? It means they have no principle of cohesion or conviction in their original ideas that require correction. The RNC convention co-opts the entire Obama platform of change.  It is scary how few American see through their intent.  We need real change to clean up the mess we made. That would be honest.

The Republicans operate their well-worn traditions of Character Assassination and the Megaphone Hour. Guilliani’s attack on Obama, twisted stories, the divisive cut to the audience. Be proud to be an R, distinct from any else, you know, those (us?) non-Americans. The pulpit intent is to make you feel like a sinner. No one listening is courageous enough to detect that every speaker has a truth problem.

Be advised.

The Republican Party alarms you. Emergency is the code to keep power. Brilliant humor from Jon Stewart who lifts the masked messaging at the RNC.  Underneath, hides the ugly truth told soberly with Frank Rich’s write up.