Insider Trading Writ Large

Imagine, if you will, a country in which banking regulations were stripped down so far that worthless paper again becomes a hot commodity. Now consider that this had (as it inevitably must) blown up and caused a crash in the lending market and equities market and thus the economy in general. Further note that a necessary result would be a rapid rise in the price of precious metals, notably gold. After a couple of years, that gold bubble would be ripe. People who had assets remaining when the junk bonds or sub-prime mortgages or whatever collapsed could have conservatively moved their money into gold, further depressing the equities market and inflating the price of gold. But, wait. Because of government investing, the market was recovering too fast! So fast that the wealthy were unable to swap their inflated gold for depressed stocks at the optimum time. What to do? Congress to the rescue! The wholly owned carriers of the banners of freedom and independence could be employed to create a palpably unnecessary crisis with a distinct deadline. Yes! This would quickly depress the markets and allow those holding too much bubble-gold to buy depressed stocks. Meanwhile, those elected to carry the load of screwing the middle class could also jump on the wagon and buy up stocks just before the deadline hits. Then the price of stocks returns to normal levels, and the gold bubble can be allowed to pop. I, for one, would like to see the trading histories of all those involved in the current crisis, and their friends and kin.

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Forty-five people were massacred in the United States yesterday

Forty-five people were murdered in the United States yesterday (16,591 homicides for the year 2009). And another forty-five will be murdered tomorrow. And another forty-five every day of the year and next year and next year. What happened in Norway was terrible. A Christian extremist named Anders Breivik killed 91 people.* It was clearly a massacre. Here in the United States, we have a massacre the size of Norway's every other day, but we don't call it a "massacre" because the killings aren't as geographically clustered--but then again, many of them are clustered in the inner cities of America. And if we don't call it a "massacre," we don't feel as compelled to do something to stop the killings.   Something simple like  calling off the "war on drugs." For anyone who objects that I've called the Norwegian killer a "Christian," I'm willing to make a deal. Next time a Muslim inflicts violence in America, will you agree that you won't describe him as a Muslim when you describe his conduct?  That would avoid a double-standard. Deal?

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It’s time for Amazon to start paying sales tax

America has a long track record or the dangers of monopolies. With the closing of Borders, Amazon is one step closer to becoming a monopoly. At Mother Jones, Kevin Drum makes a strong case that Amazon maintains its position of strength thanks to the fact that it doesn't collect sales tax.

For all its talk of technology and convenience and selection, Amazon basically stays in business because it can charge slightly lower prices than brick-and-mortar stores. A level playing field might be good for state coffers and the schools and police officers they support, but to Amazon that doesn't matter. It's nothing personal, mind you. Just business.
Local bookstores are more than commercial enterprises. They are social institutions, where people meet, share ideas and organize. This pertains especially to independent book sellers, but it occurs at all bookstores because they tend to attract open-minded socially responsible people. If we don't stop the current trend, the market will be completely dominated by a cyber-bookshop, leaving local communities in the lurch.

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