Economic Meltdown Links


Resources related to Positive Disintegration and The Dark Side





I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. — Thomas Jefferson, 1802


Shock wears off.  It is by definition a temporary phenomenon.  The best way to stay oriented to resist shock is to know what is happening to you and why.  Information is shock resistance.  Arm yourself.  — Naomi Klein, The Shock Doctrine Short Film


Given current corporate practices, not one wildlife reserve, wilderness, or indigenous culture will survive the global market economy. We know that every natural system on the planet is disintegrating. The land, water, air and sea have been functionally transformed from life-supporting systems into repositories for waste. There is no polite way to say that business is destroying the world.  —Paul Hawkin, The Ecology Of Commerce, 1994


The worst type of mental delusion is described as the inability to grasp, cope with, or comprehend concrete reality--hence the construction of a non-existent, mythical, or totally fictitious reality that exists only in the delusional mind.  — Dr. Hanan Ashrawi  (Palestinian scholar and political activist)


Only after the last tree has been cut down, only after the last river has been poisoned, only after the last fish has been caught, only then will you find that money cannot be eaten. — Cree Indian Prophecy


The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole...  Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money...  Prof. Carroll Quigley (late Georgetown University macro-historian)



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The handwriting has been on the wall for decades, as the links on this page reveal.  Perhaps our soul searching should focus on how and why we colluded in the delusions that resulted in worldwide crisis. The context for this page is Positive Disintegration on this website.



Dharmagaian Views of Economic Meltdown

These articles connect economy to ecology and energy.


Peoples Agreement: Final Declaration of the World People’s Conference on Climate Change and the Rights of Mother Earth, Cochabamba, April 2010  - We confront the terminal crisis of a civilizing model that is patriarchal and based on the submission and destruction of human beings and nature that accelerated since the industrial revolution. The capitalist system has imposed on us a logic of competition, progress and limitless growth. This regime of production and consumption seeks profit without limits, separating human beings from nature and imposing a logic of domination upon nature, transforming everything into commodities: water, earth, the human genome, ancestral cultures, biodiversity, justice, ethics, the rights of peoples, and life itself.


No, We Can't Have It All  by Derrick Jensen  4/23/10  - We can't have it all. The belief that we can is one of the things that has driven us to this awful place. If insanity could be defined as having lost functional connection with physical reality, to believe we can have it all -- to believe we can simultaneously dismantle a world and live on it; to believe we can perpetually use more energy than arrives from the sun; to believe we can take more than the world gives willingly; to believe a finite world can support infinite growth, much less infinite economic growth, where economic growth consists of converting ever larger numbers of living beings to dead objects -- is grotesquely insane. This insanity manifests partly as a potent disrespect for limits and for justice. It manifests in the pretension that neither limits nor justice exist. To pretend that civilization can exist without destroying its own landbase and the landbases and cultures of others is to be entirely ignorant of history, biology, thermodynamics, morality, and self-preservation. And it is to have paid absolutely no attention to the past six thousand years.


Economic Superstitions  by John Michael Greer  4/21/10  - An Earth Day special, spiced with acerbic wit, that weaves observations about human reactions together with volcanic eruptions, ecology, folklore, divination, and the economic superstitions that prevent a sane response to the end of an era of cheap, abundant energy.


There Really Is Only One Kind Of Sustainability  by Tim Murray   4/2/10  - Like the word “green”, “sustainable” or “sustainability” has become the buzzword of the millennia. Corporations and governments of the left or right feel compelled to dress up the most ecologically invasive development proposal or economic activity with assurances that it is “sustainable”. But there is ultimately only one “sustainability”. The sustainability of the whole, not its constituent parts.


Why Markets Fail  by John Michael Greer  10/28/09  - There are promising signs that the grip of neoclassical theory on modern economics is beginning to weaken. A recent conference on biophysical economics – a field which embraces the heretical concept that the laws of nature trump the laws of money – attracted many attendees. What’s needed now is something even more sweeping: an economics of whole systems, perhaps modeled on ecology, in which the entire world of noneconomic factors that influence economic processes is explicitly included in theories and practical analyses. Until that emerges, the advice governments and businesses receive from their paid economists may well continue to make matters worse rather than better.


Inverting the Economic Order  by Wendell Berry  9/09  - My economic point of view is from ground level. It is a point of view sometimes described as “agrarian.” That means that in ordering the economy of a household or community or nation, I would put nature first, the economies of land use second, the manufacturing economy third, and the consumer economy fourth.  A properly ordered economy, putting nature first and consumption last, would start with the subsistence or household economy and proceed from that to the economy of markets. It would be the means by which people provide to themselves and to others the things necessary to support life: goods coming from nature and human work. It would distinguish between needs and mere wants, and it would grant a firm precedence to needs.


Seven Acupuncture Points for Shifting Capitalism to Create a Regenerative Ecosystem Economy  by Otto Scharmer - June 2009  - This paper explores the underlying system of thought that has led to our current economic, ecological, social, and spiritual crisis and proposes new ideas and leverage points for a green, inclusive, and intentional ecosystem economy. The crisis of our time is not about financial or economic bankruptcy. The real crisis of our time is about an intellectual bankruptcy: the bankruptcy of mainstream economic thought over the past three decades and beyond. Just as the crumbling of the Berlin Wall in 1989 marked the end of one fundamentalist approach to society and the economy— socialist state-centric fundamentalism—the toppling of the Wall Street house of cards marked the end of another—neoliberal market-centric fundamentalism.  Yet the public debate and crisis response continue to be framed by the same old categories of economic thought that got us into the whole mess in the first place.


Altruistic Economics:  The gift culture and end of the culture of extinction  by Jonathan M. Newton, Pacific Ecologist Winter 2009 - With serious global crises appearing on many fronts it’s clear our current alienated, resource-wasteful economic activity and antiquated banking and money systems are inadequate, and the source of our problems. To solve the life-threatening problems we face we must reconnect with nature and the life of all to create an inclusive economics for the wider good. Kindness and selflessness in human economic communication is an ancient part of our history without which we cannot survive.


The Folly of Growth - Special report: How our economy is killing the Earth  10/16/08  - A growing band of experts is looking at the figures and arguing that personal carbon virtue and collective environmentalism are futile as long as our economic system is built on the assumption of growth. The science tells us that if we are serious about saving Earth, we must reshape our economy. In this special issue, New Scientist brings together key thinkers from politics, economics and philosophy who profoundly disagree with the growth dogma but agree with the scientists monitoring our fragile biosphere.


This Stock Collapse Is Petty When Compared to the Nature Crunch  by George Monbiot  10/14/08  -  The financial crisis at least affords us an opportunity to rethink our catastrophic ecological trajectory. The financial crisis for which we must now pay so heavily prefigures the real collapse, when humanity bumps against its ecological limits.


Finance, politics, climate: three crises in one  by John Elkington  10/14/08  - The breakdown of the global financial system highlights the need for a change in ways of thinking as well as strategic direction. The dilemmas of environmental sustainability, as of political democracy, will remain whatever solutions are reached to the current financial breakdown. The way forward is to seek creative and intelligent ways to ameliorate current problems; see this crisis in relation to concurrent democratic and climate-change ones; invest in the future as if every global citizen depended on it; and formulate a strategy to reshape economic life in the direction of political and environmental sustainability.


The End of the Economy  by Christopher Ketcham  10/12/08  - Recession is all good news, and not just for our brains and souls, but for the planet and the real chance for Americans to survive in some kind of non-debased, non-infantilized, non-crap-inundated form – a race of fully matured and, dare I say, noble creatures.  Every time I hear the New York Times lamenting that the average American refuses to open his billfold for bullshit, I envision less metal in the junkyard, less garbage in the scow, less forest turned into the Times, less pollution in the skies and water, less stupidity in the shape of owning more.


Money and the Crisis of Civilization  by Charles Eisenstein  10/4/08  - No more will it be true that more for me is less for you. It is becoming abundantly obvious that less for you (in all its dimensions) is also less for me. The ideology of perpetual gain has brought us to a state of poverty so destitute that we are gasping for air. That ideology, and the civilization built upon it, is what is collapsing today.  Individually and collectively, anything we do to resist or postpone the collapse will only make it worse. So stop resisting the revolution in human beingness. If you want to survive the multiple crises unfolding today, do not seek to survive them.


Nature loss 'dwarfs bank crisis'  by Richard Black  10/10/08  - The global economy is losing more money from the disappearance of forests than through the current banking crisis, according to an EU-commissioned study. Whereas Wall Street by various calculations has to date lost, within the financial sector, $1-$1.5 trillion, the reality is that at today's rate we are losing natural capital at least between $2-$5 trillion every year.


The Killing Horizon: Capitalism At The Expense Of All Life  by Juan Santos  10/4/08  - There's no $700 billion plan to save the Earth - which sustains us all.  The only thing that has ever mattered to the rulers of this empire – and of every other empire - is profit, and profit, we will recall, always comes at someone’s expense – ours, the indigenous peoples in every corner of the planet whose lands and lives have been usurped, at the expense of the enslaved, from Babylon to the USA, at the expense of Polar Bears, Wolves, Buffalo, Dolphins, Bears – and now even the Chimpanzee faces extinction, along with Whales, and as much as 50% of all living species before this century – and this system - is finished with them. Profit. At the expense. Of all life.  The capitalists can’t look at the meaning of it. They can’t bear to see the meaning and impact of their lives and how they live them. Blank out. They don’t know and can’t know, any more than George W. Bush can really afford to know what was happening when he stuck firecrackers in frog’s mouths and sent them sailing through the air with the fuse sparkling (that, after all, is why he drinks – not to know.)


How Wall Street Can Bail Itself Out Without Destroying The Dollar  by Thom Hartmann  9/26/08  - There's an alternative to Secretary of the Treasury Paulson’s bailout plan: Create an agency to fund the bailout, loan that agency the money from the treasury, and then have that agency tax Wall Street to pay us (the treasury) back. It's been done before, and has several benefits.


Rx: Depression  by John Michael Greer  9/24/08  - Counterintuitive though it may seem, a serious depression right now may just be the best thing that could happen to the United States. A good many of the dysfunctions that are dragging America to ruin will be immediately unsustainable in a time of depression, and a certain amount of economic suffering now could spare the American people a far worse experience later on.


What the latest bailout plan means  by Chris Martenson  9/21/08 - Now that the details are out, we can safely state that the US political and financial leadership has completely sold out the taxpayers and has done so in a manner that is startling, both in its recklessness and its brazenness.  The reckless part I will spell out in the details below. The brazen part is in how this is being spun out, as if the entire plan were hatched in a hurried rush, at the last minute, after events forced the issue.  This is the spin, but it is completely false.  Because many financial commentators, ranging from Roubini to Roach to Calculated Risk to myself, foresaw these events, we can be completely confident that these events were both anticipated and planned for long in advance.  The only question left was how they were going to be 'sold' to the public.  What better way than in the midst of a "massive financial panic" that required urgent action?  And now that the details are out, the plan is even more insidious than I ever dreamed.


The Effluent Society  by John Michael Greer  9/17/08  - The sin of modern economics is the failure to ground economic factors in their historic al and ecological contexts.  A society guided by economic ideas treats pollution as an amenity problem, rather than a factor that can reduce the Earth’s ability to support human societies, and treats resource scarcity as something that can be solved by investing more money, rather than a hard limit to growth.  Thus, the three-hundred-year boomtime of industrialism looks normal to many people today.


Jurassic Park of the Free Market: When giant corporations walked the earth by Rebecca Solnit  9/08 - Corporations are the top predators, and they have domesticated us—or at least many of us—to serve them.


Idols of the Marketplace  by John Michael Greer  8/13/08  - One of the fundamental axioms of ecology is that an ecosystem becomes more stable and productive as it becomes more balanced. Cycles of boom and bust are common in marginal ecosystems, where nothing controls populations except the crude forces of food supply and starvation; as ecosystems develop complexity and richness, subtler factors come into play, and conflict and chaos give way to equilibrium. Economic systems may well be subject to the same rule.


Compassionate capitalism: Ecocide with a smiley face  by Lorna Salzman  7/19/08 - We all agree that development that pollutes and destroys in order to enrich the already-rich is morally wrong. But development that pollutes and destroys in order to help the poor is just fine. We owe it to the poor. This is Compassionate Capitalism. And it is as ruthless, unforgiving and unjust as the old kind.


Status and Curiosity - On the Origins of Oil Addiction  by Nate Hagens  7/7/08  - Just as an addict becomes habituated to cocaine, heroin or alcohol, the 'normal person' possesses neural architecture to become habituated via a positive feedback loop to the 'chemical sensations' we receive from shopping, keeping up with the joneses (conspicuous consumption), pursuing more stock options and profits, and myriad other stimulating activities that a large social energy surplus provides. In order to overcome addictions, it is usually not enough to argue about which year the drug supply is going to begin its decline. It's a better path to understand the addiction, admit it before one hits rock bottom, and either begin the cold turkey process or become addicted to something else.


How The Environmental Movement Might Have Succeeded  by Lorna Salzman  7/2/08  - The fundamental reason for the backlash against environmentalism was that industry and business recognized early on - as the left and liberals did NOT - that environmentalism, when carried to its logical conclusion, was antithetical to economic growth and capitalism. In the end, the public would be awakened to the full impact of uncontrolled economic growth and development, as it impinged on their communities as well as on the wilderness and natural resources owned by the public. This awakening may be starting now; whether it is too late is a reasonable question.


Pain And Conscience  by Charles Sullivan  5/30/08  (6 p)  - We the people must find the courage to confront reality, and that means that we must be willing to feel the pain and suffering we have inflicted on others. We must admit that we are not exceptional or superior, and that we are not more entitled to our share of the world’s bounty than any other people. But we must go even deeper than that: we must bring about restitution for our past wrong-doing.


World Renowned Environmentalist Delivers Impassioned Plea at Caribbean Sustainable Tourism Conference Kickoff  5/8/08  - Dr. David Suzuki, the Canadian geneticist, best-selling author and television host, opened the conference as its keynote speaker before a capacity crowd, which included heads of state from various Caribbean Tourism Organization (CTO) member countries. Dr. Suzuki challenged these leaders, and all gathered in the room, to not sacrifice the future for short-term economic gain.


The Bridge At The Edge Of The World  by James Gustave Speth  4/24/08  - My conclusion, after much searching and considerable reluctance, is that most environmental deterioration is a result of systemic failures of the capitalism that we have today and that long-term solutions must seek transformative change in the key features of this contemporary capitalism.




Towards A Steady-State Economy  by Herman Daly  4/24/08  - It is one thing to imagine the possibility of a Steady-State Economy, but something else to chart a transition thereto from a failed growth economy. Can one transform an airplane into a helicopter without first landing, or perhaps crashing? In order even to take such a task seriously one has to realize that the growth economy is heading for a big crash.


The Economist Has No Clothes  by Robert Nadeau  4/08  - Unscientific assumptions in economic theory are undermining efforts to solve environmental problems.


Peak Oil and Economic Growth: Where Do We Go From Here?  by Rob Dietz and Brian Czech  3/28/08  - Oil and the economy are clearly and inextricably linked. Many analysts call oil the engine of economic growth. The question is whether economic growth is a desirable goal to begin with. Theory and evidence suggest that continued growth is actually “uneconomic” or costly to society. Ecological footprint analysis shows that the global economy is consuming 30 percent more resources than the Earth can regenerate each year, a deficit that cannot be maintained for long. The sustainable alternative is the steady state economy, which is characterized by stabilized (mildly fluctuating, that is) population and per capita consumption. Changing the economic goal to a gradual transition toward a steady state economy is the best way to ensure ecological health and true wealth for this and future generations. Peak oil is the messenger telling us it’s high time to change the economic goal.


Mainstream Economics and the Environmental Crisis - Brother, Can You Spare Me a Planet? (Extended version)  by Robert Nadeau  3/19/08


Making the most of a global depression  by Richard Heinberg  3/18/08 - The implication is clear: if we hope to survive as a species, and if there is to be hope for millions of other creatures, we need to shrink the human enterprise. Economic contraction may be bitter medicine, but it’s part of the cure for what ails our planetary home. We can manage this contraction either foolishly or intelligently.


Cassandra's curse: how "The Limits to Growth" was demonized  by Ugo Bardi 3/9/08  - In 1972, the LTG study arrived in a world that had known more than two decades of unabated growth after the end of the Second World War. It was a time of optimism and faith in technological progress that, perhaps, had never been so strong in the history of humankind. With nuclear power on the rise, with no hint that mineral resources were scarce, with population growing fast, it seemed that the limits to growth, if such a thing existed, were so far away in the future that there was no reason to worry. In any case, even if these limits were closer than generally believed, didn't we have technology to save us? With nuclear energy on the rise, a car in every garage, the Moon just conquered in 1968, the world seemed to be all set for a shiny future. Against that general feeling, the results of LTG were a shock.  There is a legend lingering around the LTG report that says that it was laughed off as an obvious quackery immediately after it was published. It is not true.


Your Money Or Your Life?  Stupid Question, Or...?  by Clinton Callahan   3/7/08  - Thinking that it is reasonable to weigh the well-being of earth against corporate profits reveals the height of our psychopathic insanity. What value is profit if the planet has been sterilized of complex life forms by climate change?


Peak everything economics, or, what do you call this mess?  by Richard Heinberg  1/23/08


The False US Economy Versus Nature’s Expansion-Contraction Cycle  by Shepherd Bliss  1/22/08


Economic Collapse and Global Ecology  by Glen Barry  1/12/08

Economic collapse now means humanity and the Earth ultimately survive to prosper again.


Copernicus, Darwin and the cure for Autistic Economics  By Kurt Cobb  12/3/07


Living for the Moment while Devaluing the Future  by Nate Hagens  6/1/07  (15 p.) - The debate on the realities of both climate change and Peak Oil has moved from 'are they real?' to questions concerning timing, magnitude and impact. At the same time, expanding research in 'temporal discounting' in economics (called 'impulsivity' in psychology), is shedding light on how steeply we value the present over the future, a trait that has ancient origins. Knowing this tendency, how can we expect factual updates on peak oil and climate change to behaviorally compete with Starbucks, sex, slot machines, and ski trips? (With charts, graphs, and illustrations.)


Where Agriculture Meets Empire  by Robert Jensen  7/1/03  - Agriculture isn't the only system we live with that is unsustainable -- empire and capitalism also come to mind. How are these systems connected to each other? How long can such systems continue before they give way to something new? Can they be replaced before they take the planet down with them? Who and what will suffer in the meantime? And, what can movements do to change all this? Wes Jackson has some provocative ideas about -- though he'd be the first to admit, no definitive answers to -- these questions.


Advertising at the Edge of the Apocalypse  by Sut Jhally  - In this article I wish to make a simple claim: 20th century advertising is the most powerful and sustained system of propaganda in human history and its cumulative cultural effects, unless quickly checked, will be responsible for destroying the world as we know it. As it achieves this it will be responsible for the deaths of hundreds of thousands of non-western peoples and will prevent the peoples of the world from achieving true happiness. Simply stated, our survival as a species is dependent upon minimizing the threat from advertising and the commercial culture that has spawned it.


Buddhist Economics  by E.F. Schumacher 1966  - A classic essay widely understood as a call for an economics of peace. In the essay Schumacher imagines a multitude of vibrant, self-sufficient villages which, from their secure sense of community and place, work together in peace and cooperation.


The Perils of Globalization: Interview with Jerry Mander by Scott London


Industrial Logic   by Jerry Mander


How we've made ourselves into abstractions  by Chris Maser

From hunter-gatherers to Homo Economicus: a quick, sweeping 10,000-year history of the development of our collective delusion.


Now we are Human Commodities  by Chris Maser - On the pain of corporate rule and how to get out of the consumer trap we’re ensnared in.


"Re-learning" what we've forgotten  by Chris Maser  - How to regain the economy of reciprocity with each other and our bioregion and biosphere, and thus become appropriately adapted to our planet. 



Conventional Views of Economic Meltdown

Demonstrators protest the proposed 700 billion USD Wall Street bail-out in front of the New York Stock Exchange in the Financial District in New York on September 25, 2008. In response to the global financial crisis, protesters, from a variety of activist groups, denounced the capitalist system, Wall Street and the administration of US President George W, Bush.  NICHOLAS ROBERTS/AFP/Getty Images

Corporate Anarchy: Wall Street and BP Criminals At Large  by Danny Schechter 6/23/10 - The BP oil spill is part of the same problem as the financial crisis: The BP oil spill and the banking crisis are two examples of the era we are living in, the era of corporate anarchy. In a nutshell, in this era of corporate anarchy, corporations do not have to abide by any rules—none at all. Legal, moral, ethical, even financial rules are irrelevant. They have all been rescinded in the pursuit of profit—literally nothing else matters. As a result, corporations currently exist in a state of almost pure anarchy—but an anarchy directly related to their size: The larger the corporation, the greater its absolute freedom to do and act as it pleases.  In many ways, we have been here before in our one nation under the dollar sign.

The Financial Oligarchy Reigns: Democracy’s Death Spiral From Greece to the United States by David DeGraw  6/9/10  - As the Economic Elite continue their plunder, the people in Greece riot and the big banks score yet another big blow against the people of the United States. Democracy throughout the world is under attack. Many people can make the argument that our democracy here in America is only an illusion, but even the illusion of democracy is crashing down. Tragedies are currently playing out across the world on an epic scale. Unprecedented economic and environmental catastrophes have become the norm. Billions of people, the overwhelming majority of humanity, have been sentenced to a slow death due to a concentration of wealth and resources within humanity’s economic top 0.5%. Ultimately, short-sighted greed has proven to be humanity’s most severe disease.

The Corporate Stranglehold: How BP Will Make Out Like Bandits From Its Massive, Still Gushing Oil Disaster  by Zach Carter 5/26/10 - The existing $75 million cap on damages for offshore drilling companies is a bailout every bit as disgusting as those recently bestowed upon Wall Street.  You've got to hand it to BP. After witnessing the Great Financial Crash of 2008, it seemed like it would be decades before any corporation could eclipse Wall Street's reckless rush to place its own short-term profits ahead of the public interest. But the epic drilling disaster off the Louisiana coast demonstrates that many of the problems that wrecked Wall Street are deeply embedded in other sectors of the American economy. Over the past 30 years, corporate titans have so thoroughly corrupted the notion of "free markets" that many of the world's riskiest businesses are not only insulated from regulatory supervision, they have been immunized from even minimum standards of market discipline.

The Business Roundtable: The Most Powerful Corporate Business Club Most Americans Have Never Heard Of  - by David DeGraw  3/12/10  - It has now become evident to a critical mass that the Republican and Democratic parties, along with all three branches of our government, have been bought off by a well-organized Economic Elite who are tactically destroying our way of life. The harsh truth is that 99% of the US population no longer has political representation. The US economy, government and tax system is now blatantly rigged against us. Current statistical societal indicators clearly demonstrate that a strategic attack has been launched and an analysis of current governmental policies prove that conditions for 99% of Americans will continue to deteriorate. The Economic Elite have engineered a financial coup and have brought war to our doorstep. . . and make no mistake, they have launched a war to eliminate the US middle class.


The End of Money and the Future of Civilization:  Review of Thomas Greco's book  by Richard C. Cook  10/14/09  - Thomas Greco, in his new book The End of Money and the Future of Civilizatio, outlines the increasingly familiar story of how things got so bad, and he tells it as well as anyone has ever done. More than that, Greco writes about how to change what has gone wrong. His book is among the most important written in this decade. It is truly a book that can alter the world and, if taken seriously, give large numbers of people a practical way to survive the gathering catastrophe. It’s about what we should do for ourselves, and could do much better, if we understood what to do and if big banking and big government just got out of the way.  At the root is the monetary system, whose failure cannot be understood without a history lesson. So Greco writes about the struggle between banking and democracy that took place in the 1790s when the ink on our new national constitution was barely dry.


De-Dollarisation: A Financial Revolution  In The Making by Robert Fisk  10/8/09  - The plan to de-dollarise the oil market, discussed both in public and in secret for at least two years and widely denied yesterday by the usual suspects – Saudi Arabia being, as expected, the first among them – reflects a growing resentment in the Middle East, Europe and in China at America's decades-long political as well as economic world dominance.


U.S. has plundered world wealth with dollar - China paper 10/24/08  - A Chinese professor condemned the United States’ use of its dollar hegemony to plunder the world’s wealth and advocated Asian-European cooperation in creating a “new equitable and safe international financial order.”


Can Obama See the Grand Canyon?  On Presidential Blindness and Economic Catastrophe  by Mike Davis  10/15/08  - Like the Grand Canyon's first explorers, we are looking into an unprecedented abyss of economic and social turmoil that confounds our previous perceptions of historical risk. Our vertigo is intensified by our ignorance of the depth of the crisis or any sense of how far we might ultimately fall.


How To Save The U.S. Economy  by Richard C. Cook 10/10/08  - The cause of the financial failure is that the producing and consumer economy is “maxed out” and is unable to repay existing loans much less new ones. This is because purchasing power in the U.S. has collapsed. The problem is the oncoming recession/depression caused by the absence of an economic engine to generate new producing power.


How Positive Thinking Wrecked the Economy  by Barbara Ehrenreich  9/26/08  - Greed - and its crafty sibling, speculation - are the designated culprits for the ongoing financial crisis, but another, much admired, habit of mind should get its share of the blame: the delusional optimism of mainstream, all-American, positive thinking. The idea is to firmly believe that you will get what you want, not only because it will make you feel better to do so, but because thinking things, "visualizing" them -- ardently and with concentration -- actually makes them happen.


The Pentagon Bailout Fraud  by Chalmers Johnson  9/28/08  - If we cannot cut back our longstanding, ever increasing military spending in a major way, then the bankruptcy of the United States is inevitable. As the current Wall Street meltdown has demonstrated, that is no longer an abstract possibility but a growing likelihood. We do not have much time left.


“Economic 9/11,  Are We Facing Depression Like 1929?  by Linda Moulton Howe  9/17/08  - “This is a classic Titanic situation in the sense that what we saw with the Fannie 
and Freddie bailouts and the Bear Stearns bailouts and now the AIG request for more 
than forty billion more dollars from the federal government – it’s just like the Titanic 
where the rich and affluent were given the lifeboats and the rest of the people 
went under from steerage. The rich and powerful are too big to fail; 
the rest of us are too small to save.”– Gerald Celente


Dr. Doom  by Stephen Mihm  8/15/08  - On Nouriel Roubini: Someone, somewhere, is going to have to finance the gargantuan federal debt, along with all the other debt accumulated by consumers and corporations. Our biggest financiers are China, Russia and the gulf states. These are rivals, not allies. This might be the beginning of the end of the American empire.


Financial Meltdown: the root of one of the new Four Horsemen  by Igor Stalew  7/12/08  - The pattern that repeats itself is growth schemes for unrealistic, unsustainable profits with little or no legitimate regulation. We have been led astray with false concepts of wealth and prosperity. The wake up call is here.  Igor Stalew's informative analysis calls upon our sense of responsibility and self-preservation to reject forever the scams of the few that hurt the many.


When the going gets tough, economists go very quiet  by Simon Jenkins  7/9/08 - They're happy to take the credit in the good times, but the disciples of this false science are hard to find as recession looms.


Barclay's Bank Warns Of Financial Storm As Fed Loses Credibility  6/28/08  - Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero."


Catching Predators Is Good; Economic Justice Is Better   by Danny Schechter  6/23/08  - Yes, there are criminal practices underway, but they are far more insidious and invisible than most people realize. Americans have been fighting for economic justice from before there was an America.


Food, Water And Fuel. Three Fundamental Necessities Of Life In Jeopardy  by Michel Chossudovsky  6/6/08   - We are dealing with a complex and centralized constellation of economic power in which the instruments of market manipulation have a direct bearing on the lives of millions of people.  The prices of food, water, fuel are determined at the global level, beyond the reach of national government policy. The price hikes of these three essential commodities constitute an instrument of "economic warfare", carried out through the "free market" on the futures and options exchanges. These hikes in the prices of food, water and fuel are contributing in a very real sense to "eliminating the poor" through "starvation deaths".  With charts/graphs.


Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism  5/6/08  - Renowned political analyst Kevin Phillips argues successive administrations have imperiled the US economy by a combination of shortsighted policies and a trend against regulation. These include unparalleled credit card debts, the expansion of financial industries such as hedge funds, ballooning national debts, and deliberately altering statistics like inflation and unemployment to mask the accurate picture.


Bubble and Bail  by Kevin Phillips  5/5/08  - For most of the 20th century, America manufactured things. For the past 30 years, though, it has chiefly manufactured debt. Here's how Wall Street, with the aid of both political parties, gravely damaged the economy.


Global Famine  by Michel Chossudovsky  5/2/08  - Humanity is undergoing in the post-Cold War era an economic and social crisis of unprecedented scale leading to the rapid impoverishment of large sectors of the world population. National economies are collapsing, unemployment is rampant. Local level famines have erupted in Sub-Saharan Africa, South Asia and parts of Latin America. This "globalization of poverty" was initiated in the Third World coinciding with the debt crisis of the early 1980s and the imposition of the IMF's deadly economic reforms.


Hyperinflationary Depression 2010 Interview with John Williams, Executive Editor, Shadow Government Statistics, on Financial Sense Newshour with Jim Paplova  4/12/08 – This is the real bad news, delivered with impeccable logic!


The Collapse Of American Power  by Paul Craig Roberts  3/21/08   When America’s creditors consider our behavior they see total fiscal irresponsibility. They see a deluded country that acts as if it is a privilege for foreigners to lend to it, and a deluded country that believes that foreigners will continue to accumulate US debt until the end of time.  The fact of the matter is that the US is bankrupt.


A Milestone In The Dust  by John Michael Greer  3/19/08 - Behind the wild swings of speculative excess and the tidal forces set in motion by a collapsing US dollar lies another factor – from a peak oil perspective, the signal half-hidden by a great deal of economic noise. This is the failure of world petroleum production to break out of the plateau it has occupied since 2004.


America Was Conned, Who Will Pay?  by Larry Elliott  3/17/08

The South Sea Bubble ended in riots as trust was lost. Wall Street also duped the public. Indeed, it is somewhat surprising that there is not already rioting in the streets, given the gigantic fraud perpetrated by the financial elite at the expense of ordinary Americans.


Political News Trumps Deeper [Economic] Crisis, By Danny Schechter  3/6/08   Will it go away if we don't know?   The American people are being, and will continue to be, eaten alive by financial Great White sharks, while the mainstream media focus on clueless political candidates provides irrelevant distraction from the carnage. This is the 21st-century equivalent of "Bread and Circuses" to appease the masses while the Empire collapses into the dustbin of history.


A 12 Step Scenario For Global Financial Meltdown  by Nouriel Roubini  2/26/08


Capitalism in an apocalyptic mood  by Walden Bello   2/20/08  - The current global financial crisis is symptomatic of a capitalist growth model driven by financial speculation that is disconnected from the stagnant real economy.


The Fall of the Dollar Empire  An interview with Hamid Varzi by Monavar Khalaj, Press TV, Tehran  2/15/08 - Hamid Varzi, an economist and banker based in Tehran, speaks about the US economic crisis.


Financial Times: The next crisis will be over food  by Gillian Tett  2/14/08


Burning Down The House  by James Howard Kunstler  2/12/08

The USA is a way poorer nation than we imagined ourselves to be six months ago. The American economy has been running on the fumes of "creatively engineered" finance (i.e. new-and-improved swindling) for years, and now these swindles are unraveling.


Financial Crisis: Asset Securitization-- The Last Tango - Endgame: Unregulated Private Money Creation - The Financial Tsunami, Part IV, by F. William Engdahl   2/8/08


Oil Crisis Will Lead to 10-Year Financial and Political Crisis   Energy Tech Stocks   2/7/08


The Consequences of Globalization: Alternatives?  by Professor Claudia Von Werlhog  2/2/08


Banana Republic--Without The Bananas--Or The Republic, by Bill Bonner  2/2/08



CREATOR: gd-jpeg v1.0 (using IJG JPEG v62), quality = 80
The Next Bubble: Priming the markets for tomorrow's big crash  by Eric Janszen  2/08  - A financial bubble is a market aberration manufactured by government, finance, and industry, a shared speculative hallucination and then a crash, followed by depression. Bubbles were once very rare. . . . Nowadays we barely pause between such bouts of insanity.


Barreling into Recession  by Michael Klare  1/31/08


Farewell To Old Economic Nostrums  by Paul Craig Roberts 1/23/08 


The worst market crisis in 60 years  by George Soros  1/22/08


Going Bankrupt: Why the Debt Crisis Is Now the Greatest Threat to the American Republic  by Chalmers Johnson  1/22/08  - The military adventurers of the Bush administration have much in common with the corporate leaders of the defunct energy company Enron....  The neoconservatives in the White House and the Pentagon outsmarted themselves. They failed even to address the problem of how to finance their schemes of imperialist wars and global domination....  This utter fiscal irresponsibility has been disguised through many manipulative financial schemes (such as causing poorer countries to lend us unprecedented sums of money), but the time of reckoning is fast approaching.


How the Mega-Rich Treat Our Treasury Like a Buffet (And Stick You With the Bill)  by Amy Goodman, Democracy Now!  1/21/08


No Jobs For The New Economy - Or The Old  by Paul Craig Roberts  1/9/08


Recession In The US 'Has Arrived'  by BBC   1/9/08


Lies, Injustice And The Capitalist Way: We’re On The Highway To Hell— Don’t Stop Us!  by Jason Miller  12/30/07


The End Of Boom Psychology ...Or The Great Spending Contraction  by Kathy McMahon  12/12/07


What's About to Hit US Will Be Far Bigger Than the Great Depression Was  by Doug Casey


The Impending Destruction Of The U.S. Economy  By Paul Craig Roberts  11/29/07

Hubris and arrogance are too ensconced in Washington for policymakers to be aware of the economic policy trap in which they have placed the US economy. 


A Diary Of The Onset Of The Greater Depression  by Carolyn Baker  11/29/07   Review of Danny Schechter's e-book SQUEEZED 


Crony-Capitalists  Fiddle While Main Street Burns: Crashing  Citigroup  by Pam Martens  11/28/07   The saga of how the top minds in Washington  and on Wall Street have dealt with the deepening financial crisis in the U.S. would make a great Hollywood screenplay, except for  this: it's absurdly unbelievable.


Forecast: U.S. dollar could plunge 90%  - UPI 11/19/07


The Finance Round-Up: November 16th 2007  11/17/07 - According to Gregory Peters, head of credit strategy at Morgan Stanley:  There's a greater than 50 percent probability that the financial system will come to a grinding halt.      


Another Nail in the Coffin of the Case Against Peak Oil (PDF) by 
Matthew R. Simmons, Simmons International 


International banks get dragged into financial crisis’ “black hole”: Four triggering factors of a major financial bankruptcy  11/16/07 - Public announcement, Global Europe Anticipation Bulletin N°19


The eight major risks to the global economy  by Martin Spring  11/14/07 - What are we to make of the conflicting fundamentals that have brought heightened volatility to global investment markets? Here are the negatives, as I see them.


Empire of Debt I: The Great Unraveling Begins   by Charles Hugh Smith  11/5/07  with charts and graph


The “Crash Of 2007-8” Is Underway  by Richard C. Cook  8/19/07


It's Official: The Crash of the U.S. Economy has begun  by Richard C. Cook  6/14/07


Peak Oil - A Turning Point For Mankind  by Dr. Colin J. Campbell  7/13/07  - The World is not about to run out of oil, but what it does face is the end of the First Half of the Age of Oil. That opened 150 years ago, and the cheap, convenient and abundant energy it supplied led to the growth of industry, transport, trade and agriculture, which in turn allowed the population to expand six-fold exactly in parallel with oil. It also allowed the creation of huge amounts of financial capital, as banks lent more than they had on deposit, confident that Tomorrow's Expansion was collateral for Today's Debt. This in turn led to the subject of Economics by which to understand and manage money, investment and finance, and came to control the very fabric of the modern world, its business and indirectly its politics.


“In Debt We Trust” Facts Sheet


SQUEEZED: America As The Bubble Bursts  A 182-page e-book by Danny Schechter


Top Ten Tips to Stop the Squeeze


Financial  Armageddon: Protecting Your Future From Four Impending Catastrophes - interview with author Michael Panzner  2007




Sites & Blogs


Paul Krugman Blog NYTimes  


Catherine Austin Fitts’ Blog

John Michael Greer's Blog - Perspectives on nature, culture, and the future of industrial society

Naomi Klein’s articles on ‘disaster capitalism’


Wall Street Warzone: the Secret War to Control America's Mind, Your Money & Global Markets by Paul B. Farrell, JK, PhD - Economics, new science, psychology

The Automatic Earth by Nicole Foss - Economics, politics and disintegration of empire

Financial Permaculture: a resource for gathering information and conversations about financial permaculture

Gaian EconomicsAll other green campaigns become futile without tackling the economic system and its ideological defenders.


Carolyn Baker: Speaking Truth to Power

Financial Sense News Hour: Uncommon News & Views for the Wise Investor

Chris Martenson's Blog: Our mission is to move people from awareness to understanding and then to actions. 

Hooked on Growth: Our Misguided Quest for Prosperity  Filmmaker's Blog 




Software: Microsoft Office



Audios & Videos


The Crash Course by Chris Martenson - An audio-video presentation that condenses Martenson's "End of Money" seminar. The Crash Course seeks to provide a baseline understanding of the economy so that you can better appreciate the risks that we all face.  It connects the ‘3 E’s’: economy, energy and environment.


The Real News NetworkThe Future Depends on Knowing


FIAT EMPIRE - Why the Federal Reserve Violates the U.S Constitution The Federal Reserve is a private corporation that was secretly created by the wealthiest men in the United States.  This is its history. 


Michael Hudson on Bush Finance Meeting  on Democracy Now! 10/10/08  What upsets the Europeans and the foreigners is that the US plan has done nothing at all about the debt crisis itself. It's bailed out the creditors, but not a penny of the actual debts, the subprime mortgage debts, are addressed.  If you add up all of the subprime bad loans and defaults, that's altogether $1 trillion. So far, the government has given away $6 trillion already to Wall Street. That's much more than any of the subprime debt. And the volume of derivative trade has been estimated at $450 trillion, an unbelievable amount. So nobody has any idea about how much money is at stake.


Bud Burrell: What's Wrong with This Picture?   10/11/08  -  Bud Burrell has extensive experience working with major brokerage firms on the trading desk and arbitrage desk with almost 30 years experience as an industry authority, expert, Wall Street veteran.  Here he talks about the financial crisis with frank and colorful honesty.  Audio


The Matrix – A video poem


Peter Schiff On The Economy, Gold, and the Coming Collapse of the Dollar  9/30/08  - A series of videos from Common Sense Investor  -  Peter Schiff is the Permabear who appears on all the financial shows as a foil to all the optimistic pundits.  Every financial call Schiff has made has turned out to be right, and this time he’s saying the stock market is headed even lower, gold prices are headed up around $1,500 by the end of the year, and at the minimum, the dollar will lose another 40 to 50 percent of its value. Schiff thinks we’re headed for a period worse than the Depression.  Schiff said, in a recent US News and World Report article:
 “There will be a big increase in crime. People are going to be hungry. People are going to be cold. There’s a sense of entitlement in this country, and when a lot of people used to having things suddenly don’t, everybody looks for someone to blame. We’re going through a very rough period in our history.”


Thom Hartmann reads newspapaer articles from the Great DepressionSame language, same excuses. Podcast


Bad Money - Bill Moyers interview with Kevin Phillips  9/19/08  - We've let this Las Vegas version of what used to be ordinary banks in our ordinary hometowns go berserk. Our currency is having enormous problems. People are losing their homes. We've got to face up to what our problems are and talk about how this happened. Who did it? Why? Who made the money?


US Seizes Control of AIG with $85 Billion Bailout - Democracy Now!  9/17/08  - The US government has seized control of insurance giant American International Group in an unprecedented $85 billion bailout. The Federal Reserve made the deal on Tuesday to save AIG from collapse in what the New York Times describes as “the most radical intervention in private business in the central bank’s history.” The move comes as a series of financial crises has altered the landscape of Wall Street. We speak with investment banker turned journalist, Nomi Prins, and Michael Hudson, president of the Institute for the Study of Long-Term Economic Trends.


Debt - Does America's $9 trillion federal debt mean we are mortgaging our future and jeopardizing individual savings, healthcare, and retirement for generations to come? Bill Moyers gets a reality check from Public Agenda's Scott Bittle and Jean Johnson, co-authors of Where Does The Money Go?: Your Guided Tour To The Federal Budget Crisis.   2/15/08


How the markets really work:  Yes, it really is this bad  - An example of humor that is deadly accurate.  It was one big casino with the saps in pensions funds and savings and loans (and us) being used to finance the game and cover the losses.


Richard Heinberg on The Reality Report with Jason Bradford, Reality Report  
1/8/08 - This program covers many of the topics in Peak Everything, which more than others considers the social implications of energy decline.

The program begins with a review of the connections between energy and society, drawing from the work of cultural anthropologist Marvin Harris. A discussion of relationship between climate change and fossil fuel depletion ensues. The program concludes by offering some perspective on how to cope psychologically with difficult information. (Audio – 1 hr)


Economist: U.S. Could Face "A Real Depression" Like in 1929 Democracy Now!  1/23/08 - While President Bush said he was optimistic about the country's economic future, many economists are making comparisons to the period prior to the Great Depression.  “How the failure of our politics undermines our prosperity.”  


Authors@Google: Paul Krugman - Today's most widely read economist studies the past eighty years of American history.  How we got into our current financial mess and some "mysteries" on how we might get out of it this side (or the other side) of a 'hard landing.' In this hour with Krugman, he covers the previous Long Term Capital Management induced mess, the Nasdaq "tech bubble", the housing bubble, the Fed, "financial innovation", and more.


The Shock Doctrine Short Film - A film on “disaster capitalism” by Alfonso Cuarón and Naomi Klein, directed by Jonás Cuarón.  (6:45 min.)


Financial  Armageddon: Protecting Your Future From Four Impending Catastrophes – audio interview with author Michael Panzner


Money As Debt  47 min video – 2/12/07


The Money Masters - How International Bankers Gained Control of America  3 hr 35 min video– 3/27/07


The Story of Stuff  by Annie Leonard - A wonderful little movie about the insanity of our economic system.


Buy America!  by Mark Fiore  1/23/08


BEARISH - song parody from about THE ECONOMY



Software: Microsoft Office Movies


The Money Masters


In Debt We Trust: America Before the Bubble Bursts  by Danny Schechter


Hooked on Growth: Our Misguided Quest for Prosperity  - In production 


Maxed Out takes viewers on a journey deep inside the American style of debt


Walmart: The High Cost of Low Price, a Robert Greenwald documentary


Mad MoneyComedy about three women janitors robbing the Federal Reserve Bank - feminist levity as the recession began in the US.





Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism  by Kevin Phillips  - The current housing and mortgage debacle is proof once more of Phillips’s prescience, and only the first harbinger of a national crisis. In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. America’s current challenges (and failures) run striking parallels to the decline of previous leading world economic powers—especially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower.  April 2008


The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash  by Charles R. Morris  - We are living in the most reckless financial environment in recent history. Arcane credit derivative bets are now well into the tens of trillions. The astronomical leverage at investment banks and their hedge fund and private equity clients virtually guarantees massive disruption in global markets. The crash, when it comes, will have no firebreaks. A quarter century of free-market zealotry that extolled asset stripping, abusive lending, and hedge fund secrecy will come crashing down with it.  The Trillion Dollar Meltdown explains how we got here, and what is about to happen. After the crash our priorities will be quite different. But things are likely to get worse before they better. March 2008


Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill)  by David Cay Johnston - A well documented and detailed account of how less than 1% of Americans are getting rich off the backs of the other 99%. And it isn't only individuals who are reaping millions of dollars from's also corporations.


Financial Armageddon: Protecting Your Future from Four Impending Catastrophes by Michael J. Panzner


WEB OF DEBT: The Shocking Truth About Our Money System --The Sleight of Hand That Has Trapped Us in Debt and How We Can Break Free  by Ellen Hodgson Brown - This book exposes important, often obscured truths about our money system and our economic past and future. Our money is not what we have been led to believe. The creation of money has been privatized -- taken over by a private money cartel. It is all done by sleight of hand, concealed by economic double-speak. "Web of Debt" unravels the deception and presents a crystal clear picture of the financial abyss towards which we are heading, pointing out all the signposts. Then it explores a workable alternative, one that was tested in colonial America and is grounded in the best of American economic thought, including the writings of Benjamin Franklin, Thomas Jefferson and Abraham Lincoln. If you care about financial security, your own or the nation's, you should read this book.








© 2010 Suzanne Duarte