I certainly don't have anything insightful to say about the ongoing economic meltdown, but man. I could see this coming from a long way off, why couldn't the people who actually know something about economics? Too bad I didn't put more money behind my pessimism, but it took one of my crazed right-wing correspondents to wake me up and put some into gold (via the exchange-traded GLD fund). So far so good.
Jim Kunstler tries to not gloat too hard.
The Guardian says "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." Uh, no it's not. Americans as a group are too fat, lazy, and apolitical to do anything as constructive as riot. Besides, the ones most affected are off in the edge suburbs which don't have the population density to support a good mob.