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economic collapse

Shock doctrine comes to CA, targeting the working class, poor

Sat, 06/13/2009 - 5:33pm — Davidson

[Welcome, Digby readers!]

Below is a great, in-depth report by Al Jazeera on the failure of the richest state in the United States and how the government cuts deal a lethal body blow to Californians, particularly the working class and those below poverty. The rabid, right-wing is truly holding the state hostage with Da Governator leading the assault on the most vulnerable.

Part One

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"The Western Financial System We Knew Has Collapsed"

Wed, 11/26/2008 - 12:34pm — BDBlue

That's a quote from William Buiter, courtesy of naked capitalism. You should read the entire naked capitalism post, but a couple of things in it got me thinking about this interesting discussion between ohio and badger on the idea of bubbles in essential goods and services (like housing, energy) as opposed to bubbles in non-essentials (like tech stocks). And about how we decide in times of crisis - or collapse - what we save and what we don't.

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