Browsing the "financialization" Tag

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James Howard Kunstler: Let them eat Koch

We are looking more and more like France on the eve of its revolution in 1789. Our classes are distributed differently, but the inequity is just as sharp. America’s “aristocracy,” once based strictly on bank accounts, acts increasingly hereditary as the vapid offspring and relations of “stars” (in politics, showbiz, business, and the arts) assert […]

James Howard Kunstler – Watching the sunset of civilization through the Overton Window

The disgrace of America’s putative intellectual class is nearly complete as it shoves the polity further into dysfunction and toward collapse. These are the people Nassim Taleb refers to as “intellectuals-yet-idiots.” Big questions loom over this dynamic: How did the thinking class of America sink into this slough of thoughtlessness? And why – what is […]

James Howard Kunstler – Going to financialization hell in a handbasket of deplorables

As our politicos creep deeper into a legalistic wilderness hunting for phantoms of Russian collusion, nobody pays attention to the most dangerous force in American life: the unraveling financialization of the economy. By James Howard Kunstler Financialization is what happens when the people-in-charge “create” colossal sums of “money” out of nothing — by issuing loans, […]