America’s paranoid irrationality

How paranoid have we become? Here's what Allison Kilkenny of Alternet has to say:

The culture itself is sick, which is why America has a military budget that is almost as much as the rest of the world’s defense spending combined, and is over nine times larger than the military budget of China, and yet Americans feel more afraid, and more paranoid, than ever. Everyone is against us, we're told. Everyone hates our freedom, and our amazing culture. China wants to overtake us. The entire Middle East wants us dead. Europeans laugh at us, and think we’re stupid. Emperor Penguins are plotting something. Canada is about to attack. And then there's Iran. Don't even get us started on Iran. Until Americans decide to break this addiction to "The List," this cycle of irrationality will continue into the foreseeable future.
And see this post, for the best friend of America's politicians: peddling nightmares.

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Radioactive coal

This just in, from Scientific American:

[T]he waste produced by coal plants is actually more radioactive than that generated by their nuclear counterparts. In fact, the fly ash emitted by a power plant—a by-product from burning coal for electricity—carries into the surrounding environment 100 times more radiation than a nuclear power plant producing the same amount of energy.

At issue is coal's content of uranium and thorium, both radioactive elements. They occur in such trace amounts in natural, or "whole," coal that they aren't a problem. But when coal is burned into fly ash, uranium and thorium are concentrated at up to 10 times their original levels. Fly ash uranium sometimes leaches into the soil and water surrounding a coal plant, affecting cropland and, in turn, food . . . [E]stimated radiation doses ingested by people living near the coal plants were equal to or higher than doses for people living around the nuclear facilities.

Not that the risk of radiation from either coal plants or nuclear power plants appears to be significant for those living nearby.

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William Black’s five fatal flaws of finance

William Black is a white-collar criminologist who has written a compelling account of how the bloated parasitic financial sector is ruining America in his recent post at Huffpo. These are Black's five "fatal flaws" of finance:

1. The financial sector harms the real economy. Even when not in crisis, the financial sector harms the real economy. First, it is vastly too large.

2. The financial sector produces recurrent, intensifying economic crises here and abroad.

3. The financial sector's predation is so extraordinary that it now drives the upper one percent of our nation's income distribution and has driven much of the increase in our grotesque income inequality.

4. The financial sector's predation and its leading role in committing and aiding and abetting accounting control fraud combine to: A) Corrupt financial elites and professionals, and B) Spur a rise in Social Darwinism in an attempt to justify the elites' power and wealth.

5. The CEOs of the largest financial firms are so powerful that they pose a critical risk to the financial sector, the real economy, and our democracy.

The Solution: Fix the real economy, if you can find it. "The real economy came off the rails at least three decades ago for the great majority of Americans." I was highly impressed with William Black after seeing him interviewed by Bill Moyers. And now, after reading this detailed by accessible analysis, I'm even more impressed. We can't begin to fix the economy unless we begin to implement basic principles we can actually understand. Fixing the real economy and making sure that finance is merely the servant of the real economy are clearly steps one and two, for each of the reasons listed by Black.

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