Chaos is not dangerous until it starts to look orderly.
– Max Gunther
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
– Thomas Jefferson
Anyone with eyes open knows that the gangsterism of Wall Street — financial institutions generally — has caused severe damage to the people of the United States (and the world). And should also know that it has been doing so increasingly for over 30 years, as their power in the economy has radically increased, and with it their political power. That has set in motion a vicious cycle that has concentrated immense wealth, and with it political power, in a tiny sector of the population, a fraction of 1%, while the rest increasingly become what is sometimes called “a precariat” — seeking to survive in a precarious existence. They also carry out these ugly activities with almost complete impunity — not only too big to fail, but also “too big to jail.”
The courageous and honorable protests underway in Wall Street should serve to bring this calamity to public attention, and to lead to dedicated efforts to overcome it and set the society on a more healthy course.
– Noam Chomsky
The Worst Generation
Anyone that has been a long time reader of mine knows that in the past year or so I have transitioned much of my writing away from financial markets and toward social and political issues. There are several reasons for this but the primary driver is the fact that money in the bank doesn’t mean anything if we lose our freedom. The message I have been trying to get across to leaders of business in all industries is stop making these deals with the devil in order to take one more large bonus or beat EPS for another quarter. Your choices in pursuit of transitory wealth and status will be paid for by the loss of liberty and the tears of your children and grandchildren. Sadly, very few in positions of power in America seem to be listening and the lack of high profile/powerful people coming out and risking their own treasure for the long-term benefit of the Constitution and sacred values of this once great nation has been shockingly disappointing. To the so called “leaders” of America of today I send you a warning from the grave of the great Austrian economist and author of “The Road to Serfdom,” Friedrich Hayak. You will as a class be remembered as the worst generation in American history. A generation of leaders so filled with greed, hubris and selfishness that you sold out your nation without ever thinking twice about the tragedy that your silence would bring. A generation that never had the guts to risk any of their power or possessions for the good of their country. As Hayak so perfectly put it so many years ago about the rise of Nazi Germany…