MC, right, debt that generates a risk/reward ratio ‘at the market’ is the fuel of the engine. It’s when the risk is not market but mob, and the reward is not capital but protection, that debt destroys its own value.

GL/154; great post –i agree on the power of the major companies, heck they may be the new states. the middle class IS a serious opponent –it owns property that it wants to usher into a future, and will grimly defend it (i hope!). It centers on the home, which makes this attack on home values all the more demonically deflating in every sense.

As far as those party affiliations of convenience, i’d agree except for the nagging realization that the fact that we just got tricked out of a whole bunch of our finest old investment houses and banks, leaving but two of the former and a special category of five toobigtofails of the latter, that this BOOTB new fact-on-the-ground dovetails so nicely with Marx’s “the end-state of capitalism is monopoly”.