Closing the Collapse Gap

Here is a striking article comparing the possible -- inevitable -- collapse of USA with the collapse of USSR. This was a presentation made in 2006 and events over the past decade have been propelling USA in an ominous way.

It doesn't necessarily assert that the USSR was, by deliberation, better prepared. But that the US isn't in as strong a position should it's economy collapse.......

The author keeps updating his blog.

How Risky Are American Assets ?

Michael Lewis pointedly says "this is the day that American financiers, from the point of view of the Asians who sit on top of the world's biggest pile of mobile capital, became a bad risk. " and concludes with "For 25 years Asian financial firms have been amazingly indulgent of U.S. investment bankers. What do you think they're saying about them -- and us --now? "

Regulation, Oversight, Risk Management, Controls

What do we think of when we hear words like "Regulation" or "Oversight" ? Who is responsible for "Risk Management" and "Controls" ? How are "Assets" to be valued ?

Welcome to the land of the brave and free where each of these words have seemed to mean nothing. From the DotCom crisis to Enron and WorldCom to the Housing Crisis to Bank Failures. Welcome to the land of Enterprise and the Individual being more important than the Society.

And that is the sort of Economy that the U.S. wanted / still wants the rest of the world to be ?


Jonathan Weil frames the situation well "Cops Get Caught Eating Doughnuts". "Never has it been more evident that the SEC and other government agencies think their job is to protect financial companies and financial executives, rather than the investors they rip off. "