By Carolyn Baker
Speaking Truth to Power
Sunday, 02 September 2007
We have only begun to see the reverberations of the mortgage meltdown. They will be as sweeping and mindboggling as global warming or an earthquake measuring 10 on the Richter scale.
I’m an historian, not an economist, so anything about economics-macro, micro-whatever, has been as foreign to me for most of my adult life as soil samples from Mars. But several years ago I had an epiphany that shattered my then-left-liberal/progressive world. I awakened from decades of delusion that I could adequately grasp world and national events without understanding the essential nature of how money works in the capitalist economy in which I live. I realized that until I acquired that understanding, all of the other subjects I preferred to talk about-war, social justice, race, gender, environment, energy depletion, civil liberties, globalization, and many more were inextricably connected with the financial machinations of the imperial beast within whose belly I reside. Today, I do not claim for one moment to be an authority on economic issues, but I have studied the works of some folks who are, such as Catherine Austin Fitts, Michael Panzner, Michael Hudson, John Crudele, Paul Grignon, and Hazel Henderson. From them I have learned to more skillfully read the tea leaves of the current economic upheaval that is brewing within the United States and is now rippling into the global financial markets. Furthermore, I have realized that my government and the economy of the United States is being run as a criminal syndicate, and that the most useful way to understand the subprime mortgage meltdown and its implications was to familiarize myself with the economics of Tony Soprano, that infamous main character of the HBO TV series “The Sopranos”, Mr. King of New Jersey “waste management” and proprietor of the Bada Bing.
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