Apologies for slightly off-topic here, but I saw this today: “By the same token, if the American household sector repudiates debt by living in the house without paying a mortgage, until the sheriff shows up and then paying rent once they get kicked out, banks will then do what – shut new credit off to the private sector? Already done. In the meantime, the household sector…” *

I’m thinking this would only work if we had police and sheriff on the side of the people. Refusing to evict people in their own community. So, do we start asking the friendly constable on patrol if he’d go along with it?

It seems to me that the mortgage finance sector could easily recover their (household bankruptcy) losses if they evict everyone and then rent back to us. Then, we have no land base… no food.

Anyone care to comment?

* http://www.lifeaftertheoilcrash.net/Archives2009/DebtRevolt.html

Sir James Goldsmith

Very interesting interview in 1994–clear sight on his part, dull conventionalism on the part of Charlie Rose.

Why American Policy SUCKS

By Jill Richardson

June 23, 2009 “La Vida Locavore” — Out of curiosity I decided to see who was spending the most on lobbying in America. And Oh My Goodness – NO WONDER our policy sucks. No wonder it’s nearly impossible to pass health care reform that provides all Americans with affordable care, a global warming bill that doesn’t suck, and the Employee Free Choice Act. No wonder we’re in these two stupid wars. I know everyone’s aware of the problems lobbying poses to our country, but good lord, if people saw the sheer magnitude of it (and the comparatively paltry amounts spent in the people’s interest) they would be outraged. So here goes. Here’s the list of the top 100 (ranked by amount spent on lobbying in Q109). Enjoy.

Living On $2 A Day: An Interview With Economist Jonathan Morduch

“…How can anyone possibly survive or raise a family with such a meager income? In New York City, two dollars per day won’t even cover my daily Brooklyn/Manhattan round-trip subway commute. Yet billions of low skilled people put food on the table, educate their children, grapple with unexpected emergencies and even save money.

In Portfolios of the Poor: How the World’s Poor Live On $2 a Day, Darryl Collins, Jonathan Morduch, Stuart Rutherford and Orlanda Ruthven, compiled yearlong “financial diaries,” of villagers and slum dwellers in Bangladesh, India and South Africa. The diaries track penny by penny, how specific households manage their money with sophistication and resourcefulness.”

The Cheh-shaped recovery – Part I

Eric Janszen

Forget the boom bust cycle. This economic crisis spells the end of the FIRE Economy. The elongated process of devolution has many components, from the FIRE Economy debt hangover that drives the Debt Deflation Bear Market to Peak Cheap Oil. Going into midterm elections in 2010 with U-3 unemployment over 10%, the political component looms large.

http://solari.com/blog/?p=3208

The Missing Money

“…I am inspired by the story last week of the Italian seizure of billions in US bonds from two Japanese crossing the border into Switzerland . Max Keiser Comments

Do you think it is impossible for billions, if not trillions, of counterfeit or unrecorded sovereign and agency bonds to be issued and floating around the world?

Think again…”

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The above contains a reference to this:

Why the future doesn’t need us

http://www.informationliberation.com/?id=26087

The world is now changed
By W Joseph Stroupe

This concludes a three-part report.
Part 1: Awakening ahead on bond delusion
Part 2: BRIC group plans own revolution
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http://www.globaleventsmagazine.com/

SPECIAL:BREAKING BONDS WITH THE DOLLAR ($)

It will come as a shock to many to learn that the world’s big foreign lenders, recently very critical of the safety of U.S. Treasuries and of the dollar, are now truly putting their money where their mouth has been. Words are turning into actions as they work to decrease their exposure to the dollar. Don’t be blinded by the outdated conventional wisdom that says China and its partners are “stuck” with their high exposure to the dollar – they most certainly are not stuck. And don’t be fooled by the ostensibly reassuring words from China, Russia and others in the past few days to the effect that they still have confidence in the dollar – they do not. They’re deeply concerned about its stability and are trying to talk the dollar back up from its accelerating decline. The popular media has largely missed the real meaning of an entire set of recent developments that signal a watershed strategic shift as respects foreign confidence in the dollar and in U.S. Treasuries. You must judge this immensely important issue by the actions of the players and not merely by their words. This 8,500 word in-depth analysis will assist you to do just that. It is a must-read for anyone who wants to make coherent sense of the flood of recent developments surrounding the dollar and U.S. Treasuries.

Ellen Brown
The Retreat of the Shadow Lenders: Why Deflation, not Inflation, Is the Order of the Day