Rockets Red Glare Indeed!

Hey,
Is it me or have you noticed that the rockets are really flying in Iraq and Afghanistan...not the D.C. Mall? The ten billion a month for the wars are producing some damned impressive fireworks displays e.g., the Intercontinental Hotel in Kabul. Sort of reminded me of the Soviet- style Intercontinental in Prague. I would suggest you try the Prague version at this point, even if reservations would be easier to get in Kabul this summer.

Yves Smith's latest post on Greek debt is priceless "Look What You Can Buy in the Greek Liquidation Sale." http://www.nakedcapitalism.com/2011/07/look-what-you-can-buy-in-the-greek-liquidation-sale.html. Smith observes that the plan for Greece laid out by its new masters at the IMF and ECB call for Greece to sell off it many of its strategic infrastructure assets e.g., water systems, electrical plants, defense industries. It is the Chilean experience, short of a fascist coup.... But there is always time for that later. What about the Greek Army? Guess, they're staring at the Turks, who are staring at the Syrians and the Kurds.

Smith makes an aside about what we in the United States can look forward to if the Republicans can manage a financial collapse....The last time people spoke about selling off our water rights to investors people just revolted against the idea....Create a crisis now and perhaps opportunity will knock again for the boys at BlackRock and Goldman. Obama can't seem to see the benefits of Chaos in the national debt limits crisis; his fear is one the Republicans don't even think about...a mass revolt by the peasants across the political landscape. Obama is correct to worry that there can always be unintended political consequences to cratering the economy. The real threat is the political reawakening of a brain dead electorate. This is something that both political parties should be in agreement about.