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Olbermann: Hillary Clinton + Congress (videos)

Dandelion Salad

clyde1952 In the opening segment of tonights Co…

In the opening segment of tonights Countdown with Keith Olbermann, he comments on the fact that Congress may capitulate to Bush’s demand that the big telecoms be given immunity from prosecution. Thank you Nancy Pelosi.

And more evidence that Kentucky Senator Mitch McConnell was behind the swift boating of twelve year old Graeme Frost. Mitch doesn’t want to lose the Gravy Train cash pay outs of Big Pharma and Insurance companies.

Keith touches on these subjects, her vote on the Kyl/LIEberman amendment and more in the first part of an interview with Presidential candidate Hilary Clinton.

The completion of Keith’s interview with Hilary Clinton.

In another segment, Keith and his guest talk about possibly winning the Nobel Peace prize, the draft Al Gore movement, and the viability of Gore as a presidential candidate.

Ron Paul Post Republican Debate (video)

Dandelion Salad

CSPANJUNKIEdotORG

OCTOBER 11, 2007 CNBC

OCTOBER 11, 2007 CNBC
YOUR MONEY YOUR VOTE REPUBLICAN DEBATE

YOUR MONEY YOUR…

see

Republican Debate: Your Money, Your Vote (vids; links; updated)

Tucker: Ron Paul (video)

Only One Congress Member Gets It By David Swanson

Dandelion Salad

By David Swanson
After Downing Street
Wed, 2007-10-10

On Wednesday, I spoke with Congresswomen Barbara Lee and Lynn Woolsey about getting out of Iraq. They are moving in the right direction, but are not yet serious about ending the occupation this year. They are resigned to putting up an effort in a misguided approach, and then hoping to actually end it in 2009. It has not yet penetrated anyone’s understanding that the best chance we have to end the occupation of Iraq between now and 2013 is during the next 14 months.

For almost a year Congressman Dennis Kucinich has been saying that the Democratic leadership in Congress should end the occupation of Iraq by not bringing up for a vote any more bills to fund it. For all these months, he has been the only member of Congress willing to say this.

The closest position espoused by any of the other 534 members of the House and Senate is that Congress should pass a bill to fund only the withdrawal of the troops and mercenaries. Of course, they don’t say mercenaries but “contractors,” and instead of withdrawal they say (and often mean) “redeployment,” and they’re willing to fund another year or more of the occupation if the bill doing so “funds the redeployment” by January 2009. This is the position of the 88 congress members who have signed the Peace Pledge Letter that is finally attracting a little attention. Or, rather, it would be their position if you could believe them. Most of the 88 just voted billions more for the occupation in a Continuing Resolution.

But here’s the chief problem with the “fund a withdrawal” idea. It keeps everyone talking in terms of passing a bill. And once that bill fails in the Senate or is vetoed, everyone will still be talking in terms of passing a bill, but they’ll pass a bill that simply funds the occupation. The idea that the Pentagon needs money to withdraw the troops and mercenaries is absurd. That’s pocket change for the Pentagon. Kucinich advocates requiring Bush to use money already appropriated.

A recent poll offered people a choice of spending another $200 billion without conditions (13 percent of the country supported this), spending $200 billion but requiring that all troops be home within a year (19 percent), spending $50 billion and requiring that all troops be home in six months (14 percent), or requiring Bush to use existing funds to bring all troops home in six months (40 percent). One congress member represents 40 percent of Americans.

On Wednesday, Kucinich released a statement demanding that the Democratic leadership require Bush to use existing funds to end the occupation. “If they don’t, then they’re just as responsible as the President for continuing this illegal and immoral war,” said Kucinich, “and open to accusations of fraud upon the American people for promising during last year’s elections that Democratic control of the Congress would mean an end to the war. Instead of ending the war, the leadership has knuckled under time and time again and given the President every dollar he’s asked for to continue it.”

By delaying a vote until early next year on the Defense Department’s $190 billion appropriation bill, the Democratic leaders of the House and the Senate have tacitly acknowledged that the war effort is already fully funded for the next several months, Kucinich said. “The leadership needs to force a showdown with the President and demand that those billions of dollars be used to bring our troops home now.” He estimated the cost to withdraw all troops and equipment at between $5 billion and $10 billion. “That money is there right now. There is no excuse not to use it to bring our troops home.”

Kucinich, the only Democratic Presidential candidate who voted against the original war authorization in 2002 and every supplemental war-funding appropriation since, said Democratic protestations that they don’t have the votes to block additional funding “is a hoax. You don’t need votes. All we need is the backbone to exercise our Constitutional authority and the integrity to keep our word to the voters to do what we said we would do: end this war. Now.”

Kucinich has been saying this for many months and has failed, as far as I know, to bring a single additional congress member around to his position. Meanwhile, the Progressive Caucus, co-chaired by Woolsey and Lee, has organized 88 congress members to sign their letter, which begins

“Seventy House Members wrote in July to inform you that they will only support appropriating additional funds for U.S. military operations in Iraq during Fiscal Year 2008 and beyond for the protection and safe redeployment of our troops out of Iraq before you leave office.”

Kucinich is one of the 88 who have signed. If enough congress members back this letter and stand behind it, it will become very difficult for Pelosi to pass any Iraq funding bill other than the worst sort of unconditional funding that will win considerable backing from Republicans. A bill to fund a withdrawal will die in the Senate or be vetoed. At that point, Pelosi will search around for a bill she can pass without the support of progressives. What would make her less likely to go this route would be if the 87 other than Kucinich who have signed the letter were talking about it in terms of the ultimate goal of not passing any bill. Instead they are talking in terms of pressuring the Senate to pass their bill. The words “sixty senators” are constantly on their lips, even though everyone knows the next impossible feat after winning over 60 senators would have to be winning over 67 senators (60 to get past a filibuster, 67 to get past a veto).

At an event I attended Wednesday evening (photo album), Congressman Jim Moran gave a speech in which he claimed that the Democrats could not end the occupation without 60 senators. This is crazy. Senate Majority Leader Harry Reid could single-handedly refuse to bring Iraq funding bills up for votes. Or 41 senators could block any such bill. And Nancy Pelosi could single-handedly refuse to bring Iraq funding bills up for a vote. It would take 218 members signing a petition to force a vote against her will. And she has shown how effectively she can assert her will when she wants to.

Congresswomen Woolsey and Lee spoke after Moran. They spoke of the importance of the House acting as it should regardless of the Senate, but then lamented the state of the Senate and concluded that at least they’d end the occupation in 2009. I talked to Woolsey and Lee separately afterwards.

Woolsey did not at first even understand what I was trying to tell her. She insisted that 60 senate votes are needed. I explained that only 41 or 1 (Harry Reid’s) would do it once we get to the point of blocking bills. She understood, but clearly believed the whole discussion was outside the realm of discourse on Capitol Hill.

Lee seemed to understand more quickly what I was saying, but also to lack any confidence that a real attempt to end the occupation this year could get off the ground. I asked her what would happen if her proposal for funding “redeployment” died in the Senate or on the president’s desk. Would people understand that it was time to pass no legislation, or would they insist on passing some bill, any bill? The latter, she said. But she expressed a willingness to start trying to talk in terms of blocking any bills to fund the occupation.

Sadly, the list we need to be watching even more than the list of signers of the Peace Pledge letter, is the list of congress members who want to end the occupation, not by passing a bill, but by blocking one. This list currently has only one person’s name on it. If it doesn’t grow quickly, and if the presidential election doesn’t change drastically, we will be facing at least five more years of occupying Iraq.

FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. This material is distributed without profit.

see

Rep Dennis Kucinich to Dem Leadership: “Stand Up” to Pres. Bush (video)

Colbert Challenges Kucinich: Redux By Manila Ryce (link)

Dandelion Salad

By Manila Ryce
Published Thursday, October 11th, 2007, 5:23 am

Colbert Challenges Kucinich: Redux

Colbert re-challenges “vegan wood-spirit” Dennis Kucinich, the most elusive of the Democratic presidential candidates. After calling Kucinich a coward for not accepting, Colbert gets the mystical equivalent of a glove to the face from the “Pocket Master” (incidentally, that was also my nickname in high school, but for a different reason). Colbert will attempt to capture Special K in his studio with ancient runes, an enchanted studio audience, and the bottled essence of Chris Angel on Monday October 15th.

from www.jwharrison.com posted with vodpod

.

see

The Colbert Report: Dennis Kucinich is on Notice by Manila Ryce (video link; poll)

Bush’s Campaign of Lies to Conceal War Crimes by Walter C. Uhler

Dandelion Salad

by Walter C. Uhler
Posted 11 October 2007

During his recent, hour-long interview on Al-Arabiya TV, President Bush denied “the U.S. is gearing up to attack Iran” and dismissed as “‘gossip’ reports in the Arab press that he has issued orders to senior U.S. military officials to prepare for an attack on Iran at the end of January or in February.” [AP, Arizona Daily Star, Oct. 6, 2007] He then added: “Evidently, there’s a lot of gossip in parts of the country – world that try to scare people about me personally or my country or what we stand for.”

Gossip is it? Or has the Decider simply repressed or forgotten all the lies he told during the run-up to his illegal, immoral invasion and murderous occupation of Iraq? For example, has Bush simply repressed or forgotten his lie on December 28, 2001, when, after an extensive secret briefing by General Tommy Franks about a future invasion of Iraq, he told the press that his discussion with Franks focused on the General’s recent trip to Afghanistan and events occurring in that country? [Bob Woodward, Plan of Attack, p. 65]

Continued…

FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. This material is distributed without profit.

Al Jazeera: Inside Myanmar – The Crackdown Parts I & II (videos)

I posted this yesterday but they took the video down. Here it is again for those that missed seeing it. ~ Lo

Dandelion Salad

Warning
.
This video contains images depicting the reality and horror of a police state and should only be viewed by a mature audience.

AlJazeeraEnglish

For this extended special news programme, Al Jazeera’s Tony Birtley went undercover in Myanmar to report exclusively on the people’s protests and resulting bloody crackdown by Myanmar’s military government, talking to the protesters, filming the bloody crackdown and gauging the mood of the nation.

see
Al Jazeera: Exclusive footage of Myanmar crackdown + Inside Myanmar: The Crackdown (videos)

How the Military Can Stop an Iran Attack by Jeremy Brecher & Brendan Smith

Dandelion Salad

by Jeremy Brecher & Brendan Smith
ICH
The Nation
Oct. 9, 2007

Sometimes history–and necessity–make strange bedfellows. The German general staff transported Lenin to Russia to lead a revolution. Union-buster Ronald Reagan played godfather to the birth of the Polish Solidarity union. Equally strange–but perhaps equally necessary–is the addressee of a new appeal signed by Daniel Ellsberg, Cindy Sheehan, Ann Wright and many other leaders of the American peace movement:

ATTENTION: Joint Chiefs of Staff and all U.S. Military Personnel: Do not attack Iran.”

The initiative responds to the growing calls for an attack on Iran from the likes of Norman Podhoretz and John Bolton, and the reports of growing war momentum in Washington by reporters like Seymour Hersh of The New Yorker and Joe Klein of Time. International lawyer Scott Horton says European diplomats at the recent United Nations General Assembly gathering in New York “believe that the United States will launch an air war on Iran, and that it will occur within the next six to eight months.” He puts the likelihood of conflict at 70 percent.

The initiative also responds to the recent failure of Congress to pass legislation requiring its approval before an attack on Iran and the hawk-driven resolution encouraging the President to act against the Iranian military. Marcy Winograd, president of Progressive Democrats of Los Angeles, who originally suggested the petition, told The Nation:

If we thought that our lawmakers would restrain the Bush Administration from further endangering Americans and the rest of the world, we would concentrate solely on them. If we went to Las Vegas today, would we find anyone willing to bet on this Congress restraining Bush? I don’t think so.

Because our soldiers know the horrors of war–severed limbs, blindness, brain injury–they are loath to romanticize the battlefield or glorify expansion of the Iraq genocide that has left a million Iraqis dead and millions others exiled.

Military Resistance

What could be stranger than a group of peace activists petitioning the military to stop a war? And yet there is more logic here than meets the eye.

Asked in an online discussion September 27 whether the Bush Administration will launch a war against Iran, Washington Post intelligence reporter Dana Priest replied, “Frankly, I think the military would revolt and there would be no pilots to fly those missions.”

She acknowledged that she had indulged in a bit of hyperbole, then added, “but not much.”

There have been many other hints of military disaffection from plans to attack Iran–indeed, military resistance may help explain why, despite years of rumors about Bush Administration intentions, such an attack has not yet occurred. A Pentagon consultant told Hersh more than a year ago, “There is a war about the war going on inside the building.” Hersh also reported that Gen. Peter Pace had forced Bush and Cheney to remove the “nuclear option” from the plans for possible conflict with Iran–in the Pentagon it was known as the April Revolution.

In December, according to Time correspondent Joe Klein, President Bush met with the Joint Chiefs of Staff in a secure room known as The Tank. The President was told that “the U.S. could launch a devastating air attack on Iran’s government and military, wiping out the Iranian air force, the command and control structure and some of the more obvious nuclear facilities.” But the Joint Chiefs were “unanimously opposed to taking that course of action,” both because it might not eliminate Iran’s nuclear capacity and because Iran could respond devastatingly in Iraq–and in the United States.

In an article published by Inter Press Service, historian and national security policy analyst Gareth Porter reported that Adm. William Fallon, Bush’s then-nominee to head the Central Command (Centcom), sent the Defense Department a strongly worded message earlier this year opposing the plan to send a third carrier strike group into the Persian Gulf. In another Inter Press analysis, Porter quotes someone who met with Fallon saying an attack on Iran “will not happen on my watch.” He added, “You know what choices I have. I’m a professional…. There are several of us trying to put the crazies back in the box.”

Military officers in the field have frequently refuted Bush Administration claims about Iranian arms in Iraq and Afghanistan. Porter says that when a State Department official this June publicly accused Iran of giving arms to the Taliban in Afghanistan, the US commander of NATO forces there twice denied the claim.

More recently, top brass have warned that the United States is not prepared for new wars. Gen. George Casey, the Army’s top commander, recently made a highly unusual personal request for a House Armed Services Committee hearing in which he warned that “we are consumed with meeting the demands of the current fight and are unable to provide ready forces as rapidly as necessary for other potential contingencies.” While this could surely be interpreted as a call for more troops and resources, it may simultaneously be a warning shot against adventures in Iran.

An October 8 report by Tim Shipman in the Telegraph says that Defense Secretary Robert Gates has “taken charge of the forces in the American government opposed to a US military attack on Iran.” He cites Pentagon sources saying that Gates is waging “a subtle campaign to undermine the Cheney camp” and that he is “encouraging the Army’s senior officers to speak frankly about the overstretch of forces, and the difficulty of fighting another war.” Shipman reports Gates has “forged an alliance with Mike McConnell, the national director of intelligence, and Michael Hayden, the head of the Central Intelligence Agency, to ensure that Mr. Cheney’s office is not the dominant conduit of information and planning on Iran to Mr. Bush.”

Every indication is that the “war about the war” is ongoing. Hersh recently reported that the attack-Iran faction has found a new approach that it hopes will be more acceptable to the public–and presumably to the Pentagon brass. Instead of broad bombing attacks designed to eliminate Iran’s nuclear capacity and promote regime change, it calls for “surgical strikes” on Revolutionary Guard facilities; they would be justified as retaliation in the “proxy war” that General Petraeus alleges Iran is fighting “against the Iraqi state and coalition forces in Iraq.” According to Hersh, the revised bombing plan is “gathering support among generals and admirals in the Pentagon.” But Israeli officials are concerned that such a plan might leave Iran’s nuclear capacity intact.

The appeal for military personnel to resist an attack is primarily based on principle. It asserts that any pre-emptive US attack on Iran would be illegal under international law and a crime under US law. Such an attack would violate Article II, Section 4, of the UN Charter forbidding the threat or use of force against the territorial integrity or political independence of any state. Since Iran has not attacked the United States, an attack against it without authorization by the Security Council would be a violation of international law. Under the US Constitution and the UN Charter, this is the law of the land. Under the military’s own laws, armed forces have an obligation to refuse orders that violate US law and the Constitution. And under the principles established by the Nuremberg War Crimes Tribunal after World War II, “just obeying orders” is no defense for officials who participate in war crimes.

But the petition also addresses some of the practical concerns that have clearly motivated military officers to oppose an attack on Iran. It would open US soldiers in Iraq to decimation by Iranian forces or their Iraqi allies. It would sow the seeds of hatred for generations. Like the attack on Iraq, it would create more enemies, promote terrorism and make American families less safe.

The petitioners recognize the potential risks of such action to military personnel. “If you heed our call and disobey an illegal order you could be falsely charged with crimes including treason. You could be falsely court martialed. You could be imprisoned.”

But they also accept risks themselves, aware that “in violation of our First Amendment rights, we could be charged under remaining section of the unconstitutional Espionage Act or other unconstitutional statute, and that we could be fined, imprisoned, or barred from government employment.”

In ordinary times, peace activists would hardly be likely to turn to the military as allies. Indeed, they would rightfully be wary of military officers acting on their own, rather than those of their civilian superiors–in violation of the Constitution’s provisions for civilian oversight of the military. But these are hardly ordinary times. While the public is highly dubious of getting into another war in the Middle East, there now appear to be virtually no institutional barriers to doing so.

Military-Civilian Alliance

Is there a basis for cooperation between the military brass and citizens who believe an attack on Iran would be criminal and/or suicidal? Perhaps. The brass can go public with the truth and ask Congress to provide a platform for explaining the real consequences of an attack on Iran. They can call for a national debate that is not manipulated by the White House. (They can also inform other players of the consequences: tell Wall Street the effects on oil and stock prices and tell European military and political leaders what it is likely to mean in terms of terrorism.) The peace movement has already forged an alliance with Iraq War veterans who oppose the war and with high military officials who oppose torture; a tacit alliance with the brass to halt an attack on Iran is a logical next step.

Such an approach puts the problem of civilian control of the military in a different light. The purpose of civilian control, after all, is not to subject the military to the dictatorial control of one man who may, at the least, express the foolishness and frailty that all flesh is heir to. The purpose is to subject the military to the control of democratic governance, which is to say of an informed public and its representatives.

What contribution can the peace movement make to this process? We can cover military officials’ backs when they speak out–no one is better placed than the peace movement to defend them against Bushite charges of defying civilian control. We can help open a forum for military officers to speak out. Many retired officers have spoken out publicly on the folly of the war in Iraq. We can use our venues in universities and communities to invite them to speak out even more forcefully on the folly of an attack on Iran. We can place ads pointing out military resistance to an attack on Iran and featuring warnings of its possible consequences from past and present military officials. And we can encourage lawmakers to reach out to military officials and offer to give them cover and a forum to speak out. Says petition initiator Marcy Winograd, “I’d like to see peace activists and soldiers sit down, break bread, march together, testify together and forge a powerful union to end the next war before the bloodletting begins.”

The peace movement leaders who appealed to the military had to break through the conventional presumption that the brass were their enemies in all situations. Such an unlikely alliance could be a starting point for a nonviolent response to the Bush Administration’s pursuit of a permanent state of war.


FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. This material is distributed without profit.

see
Leading Americans Ask Military to Refuse to Attack Iran and Start a Global Catastrophe

Preventing a Rogue President from Committing a War Crime: Open Letter to the New Generation of Military Officers by Lt. Col. Robert M. Bowman

The Light Goes ON! The IMAGINE PEACE TOWER dedication ceremony (videos)

Here’s the Flickr group: Imagine Peace

love, Lo

Dandelion Salad

Go see the FLICKR pictures of the PEACE TOWER in Reykjavik Iceland.

Go to http://www.imaginepeace.com to see the ceremony with Ringo Starr, Olivia Harrison, Sean Lennon and Yoko Ono before the light was turned on.

(see below)

h/t: Dennis 4 President in 2008!

***

Yoko Ono: About The IMAGINE PEACE TOWER

Y0K0ON0

Yoko Ono talks about the IMAGINE PEAC…

Yoko Ono talks about the IMAGINE PEACE TOWER in Reykjavik, Iceland, which she will unveil and dedicate to John Lennon on his birthday, October 9th 2007. http://www.imaginepeace.com

The IMAGINE PEACE TOWER dedication ceremony

13 min 28 sec – Oct 10, 2007

The IMAGINE PEACE TOWER dedication ceremony with Yoko Ono, Sean Lennon, Ringo Starr, Olivia Harrison & Vilhjalmur Vilhjalmsson, the Mayor of Reykjavik. Images courtesy of RUV Iceland. Used with permission.

see
Kucinich: About the Imagine Peace Tower (video)

Imagine Peace by Cindy Sheehan

***

John Lennon Tribute Show 2004-10-09

John Lennon Tribute Show 2004-10-09

Pic I took at the John Lennon Tribute Show in Oct. 2004:

Chris (Oh, Yeah!)

This Week In Time: Two Gods, Sex, Congress & Oprah (video)

This Week In Time

By William Mac
The Mac Manifesto (William Mac)

featured writer
Dandelion Salad

Oct. 11, 2007

ThisWeekInTime

American Economy: The Flooded Engine by Josh Sidman

Josh

by Josh Sidman
Dandelion Salad
featured writer
Josh’s Blog Post

Oct. 11, 2007

American Economy: The Flooded Engine

(WARNING: MIXED METAPHORS AHEAD. PROCEED WITH CAUTION.)

Anyone who has had the unpleasant experience of trying to start an old car with a faulty ignition will be familiar with the phenomenon of a flooded engine. When you’re having trouble starting a car, it is usually effective to step on the gas pedal while turning the key in an effort to force-fire the engine. However, this procedure can become counterproductive if used to excess. Eventually too much gas is administered, and the engine will not start again until the excess gasoline has had time to drain off or otherwise dissipate.

The phenomenon of a flooded engine is an apt metaphor for the current state of the American economy. The engine of our economy has been run in such an irresponsible and unsustainable manner that the only way to keep it from collapsing is to continuously add more fuel to the fire. The only thing that prevented a crash in 1999 and 2000, when the internet bubble burst, was an extremely high dose of liquidity added to the financial system by the Fed. Short-term interest rates were slashed to one-percent – a measure that could only be considered “emergency medicine”. The Fed’s action succeeded in averting a crisis temporarily, but the real effect was simply to postpone (and magnify) the eventual reckoning. The medicine used to deal with the collapse of internet stocks only served to create an even bigger bubble in the real estate market.

Monetary policy is proven effective at influencing macroeconomic conditions in the short-term, but it is only a temporary remedy. If the long-term fundamentals of the economy are not addressed, a point will eventually be reached where the medicine doesn’t work anymore. Similarly to how the human body becomes resistant to antibiotics if used to excess, each new injection of monetary stimulus, if not accompanied by real economic reforms, will become increasingly ineffectual. And, in both medicine and monetary policy, when effectiveness has been reduced, the short-term temptation is always to administer larger and larger doses, even if the long-term health of the patient is jeopardized. If the patient is fundamentally healthy, medicine can be used to speed the process of recovery and alleviate the suffering associated with it. But if the patient is fundamentally unhealthy, medicine itself can become be lethal.

It is in these terms that I have come to view the current state of affairs with regard to monetary policy and the financial markets. Lately we have seen the stock market rallying on the expectations of rate cuts. Whenever you seen this phenomenon, there’s always an element of irony. In the long-run, the stock market rises and falls in tandem with the health of the underlying economy. Rate cuts are normally administered only when the economy is less than fully healthy. So, stock market rallies fueled by anticipation of rate cuts are a bit of a macabre phenomenon. Its like celebrating the euphoria of anesthetics when the reality is that the body is sick and is about to undergo an invasive procedure. This is what we are seeing in the financial markets at the present time. The stock market remains near all-time highs in spite of the fact that virtually every data-point in the real economy is negative. The real estate market is collapsing, the dollar is losing value rapidly, the government is increasingly indebted (as are more and more of our citizens), companies are going bankrupt, unions are striking, and we’re spending hundreds of billions of dollars a year on a wholly unproductive war, but the stock market makes new highs. Something just doesn’t add up.

Clearly, the wishful thinkers at the Fed and in the financial markets are not ready to give up the ship just yet. They’ve still got a supply of medicine to keep the patient alive for a little while longer. It is therefore likely that we’ll see a continuing policy of monetary stimulus via additional rate cuts, which will ignite a few more euphoric rallies in the stock market. But the rallies will become increasingly anemic as it becomes clear that the Fed is running out of ammunition and that nothing is being done to cure the fundamental health of the economy. Once this reality hits home, people will start to run for the exits, but by that time it will be too late. The value of the dollar will have been decimated, the savings of American families will have been inflated away, millions of people will have lost their homes, and THEN the stock market will collapse. This will be the point at which we have metaphorically flooded the engine. We will eventually learn that no amount of additional gas will start the car, and we will have no choice but to go through the unpleasant experience of feeling the full force of our sickness. Hopefully, then we will start to figure out what we can do in the future to cure the patient, rather than just further anesthetize it.