WU finally figues how to get out of our economic mess!

As the great Lennon used to say: "What is to be done" with these Banksters?

First off, someone should collar the white collar pirates--

"Why are you a pirate?" "That's where the money is," said the young Somali native.

"Why do you turn toxic sub-prime mortgages into AAA rated securities?" That's where the money is, answered the young Wall Streeter.

--From Dr Wu's latest book: "Your Pirates and Mine

Sadly, prison time won't happen anytime soon given how the BushCO criminals got off the hook.

But, here's the good part: the ship of Anglo-Capitalism, free market Double-Bubble lunacy is Sinking! ("hear what I'm saying")

The Wall Street-Geithner-Obama nexus:

When Finances replaced Manufacturing as the largest part of GDP (21% vs. 12%)and is our biggest sector for corporate profits (50%), our best and brightest minds made more money flipping papers on Wall Street than they do making planes in Seattle or cars in Detroit. Most of Harvard and Yale headed to Wall Street!

But even Yale grads know you cannot maintain a world class empire on computer clicks and paper flipping. Once you have finances dominating the economy, the country becomes slack with the easy ways of easy money. In other words, capitalism is killing itself. Remember, it was one of the Marx brothers who said that capitalists are so greedy that they will sell the rope to kill themselves with! How true. By taking the easy money path, instead of the work hard path, we're following the path of other empires that went down the tubes with finances--Spain, the Dutch and the Brits. They all survived the fall as second-tier powers. That's probably in the cards for us. Summers and Geithner may know people in powerful places but they can never bring back what made this country supreme: manufacturing.

Crazy as America is, is there a way out before we reach 2nd tierdom? Possibly. Energy wars have been and will be our undoing. That and our continuing policy of salvaging banks that are too corrupt to exist. Three simple ideas: cut our carbon-based energy use in half, cut our military in half (we already have a nuclear submarine fleet that is armed with enough nuclear weapons to destroy the world many times over AND these subs are impervious to a first strike)and let the BIG BANKS go down the tubes.