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Business as usual or Who’s on American Idol…The Fantasy Bubble Connection

Disney World - flickr creative commons

All righty now.  Two home made bombs go off at the finish line of the Boston Marathon, creating enough death, injury and destruction to occupy the news cycle for  at least 24 hours. Followed by the miraculous work of our law enforcement to correctly identify the culprits from some very out of focus stills  garnered from some security cameras. Thus triggering a manhunt in Boston the like of which Boston – or any where else – has not seen. To capture a 19 year old, screwed up kid. And the people of Boston rolled over and played dead through the whole affair.  Then cheering loudly when he was caught as if Hitler and Stalin both where apprehended in the middle of some torturous act.

Even Pepe Escobar at Asia Times thinks the whole theatre smells more than a little of 10 day old halibut.

In two previous articles, for RT RTand for Asia Times Online I have looked into the superimposed levels of blowback implied by the Boston bombing.

With still so many unanswered questions regarding what took place on the ground in Boston after the bombing, it’s time to look at an extra, possible Top Ten list of lingering absurdities. And this without sidestepping other unanswered crucial questions, such as why a bomb drill – organized by Craftwas going on during the marathon at which the bombing took place; and why it was vehemently denied that a bomb drill was going on. For this current set of questions, I’m grateful for the help of Asia Times Online’s Bostonian readers.

Orwellian indeed.  And Bush is opening a Library when he should be in a cell.

What amazes me is not that this happened or how it was handled or even the official story itself. These are all pretty much par for the course.   After all even Nixon though the white wash of the JFK assassination was a load of dingos kidneys.

No what amazes me is how gullible the public is and how easily it will swallow the stories force fed to them on this and every other matter.   Those that seem to be the least likely to question the official story seem to be those of the upper crust economically. The professionals engineers for Microsoft and Dell and Apple and IBM. The Doctors and specialists in the health car professions, especially those affiliated with big hospitals. Tenured professors and middle management types. The bourgeois for lack of a better term.

Nearly all of whom are doing quite nicely as the rest of the economy is slowly sinking.  They also are those who are buying into the “recovery” that isn’t.  Like the guest post by James H. Kunstler – at Tyler Durden’s Zerohedge explains.

It’s especially remarkable that a nation with fairly deep traditions of free thought and speech, with durable institutions for purveying them (a free press), should sleepwalk into a captivity of pervasive, systematic, institutionalized lying and fraud. The people of Nazi Germany and Stalinist Russia suffered under such regimes at gunpoint, with boots on their necks, but in the USA of Bush and now Obama, we have conveyed ourselves to very similar circumstances willingly, like little children skipping through the gates of Disney World, with gleeful disregard for the consequences.

James H. Kunstler in this post gives a good rundown of how we got here, will stay here and what the government has been doing ever since that untidy situation in 2008, to keep the Titanic from sinking.  That what we are seeing is a contraction fed to a large extent by what he calls then end of “peak-cheap-oil”.

These calamities of capital mis-management occurred in tandem with trouble in the energy sector of the economy. The shorthand for the trouble was encapsulated in the term “Peak Oil.” For practical purposes, it should have been called “Peak Cheap Oil,” because these years in the mid-2000s marked the end of oil that was affordable under the terms of how American society was set up to run.

At every level of American society – and for Europe and Japan as well – the end of cheap, affordable oil had rather dire implications for all the common operations of life in advanced societies: food production, transportation, commerce, and especially finance. Finance – the management of a society’s accumulated wealth – was the most abstract of these systems and the one most easily upset by the implications of Peak Cheap Oil. The reason was that oil happened to be the “master resource” for generating economic growth and Peak Cheap Oil provoked a particular problem with money: Without continued growth of 3 to 5 percent a year, not enough new wealth could be generated to cover the interest on loans in the financial system. In effect, the whole system of interest became impaired, and without interest you couldn’t have the normal operations of banking.

It was pretty elementary. But the American public was not disposed to understand it, because everything in the U.S. economy worked on revolving credit, including the issuance of money itself (which was loaned into existence by the banks), and the public was addicted to debt. Loaning money into existence, of course, implied the creation of ever more debt, which came burdened with interest payments.

The American public, the media and even Washington refuses to look at any of this. All still wanting to believe that this depression/recession is temporary and will right itself eventually.  The whole drive toward austerity is reliant of this fiction.  So the books and figures are manipulated to give it as much credence as possible.  The only reason the economy has not tanked is because the Federal Reserve keeps funneling money into the financial sector. Pay no attention to that bankrupt bank behind the FED, this is the great and powerful Wizard of OZ.  All making excuses and rationalizing the governments actions at every step.

So these bourgeois with their 401Ks and personal retirement accounts and investments are the ones that Washington is trying to protect from financial disaster.  Making sure the Stock Market does not take a nose dive and there by bursting the fantasy bubble.

And these same folks will keep watching  their cable TV shows  with the right convinced that the “market works damnit” and the center left pushing their green or what ever agenda and both rationalizing why no financier is in Jail.  All convinced that it’s back to business as usual. All gleefully and naively watching the first 10 min of CNN before turning on Here Comes Honey Boo Boo.

The theme park is open for business and the “help” gets the shaft.


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