Bacon's Rebellion

Democracy Thrives in Sunlight

WEEKEND READING

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by

James A. Bacon
in , ,

Every so often WaPo editors of one section or another strike gold with their front page stories.

The 15 May issue of the Business Section could be called “The Ides of May for Autonomobiles.” You will hear more of that later.

Today the Business Section hit a grand slam. The stories provide perspectives on why The Mobility and Access Crisis, The Affordable and Accessible Housing Crisis, The Energy Conservation Crisis and the Wealth Gap Crisis are all becoming worse every day.

The feature story scopes out the dark side of the ethanol subsidy’s impact on the price of corn and thus food and other goods.

Below that is a report on how the ethanol subsidy lobbyist are being welcomed with open arms by pandering politicians looking for cover on gasoline prices.

The juxtaposition of these two items should be frightening for anyone concerned with Mobility and Access or Energy Conservation.

The top of the page reports on historic highs for home mortgage foreclosures, one important aspect of the Affordable and Accessible Housing Crisis.

The rest of the page considers the Wealth Gap – the most important threat to democracy and free markets.

The right side bar documents that all the indicators of white collar gambling – the stock market – are positive.

The left side below the fold tells of a hedge fund trying to oust the management of Sunrise Senior Living to raise the price of the stock. No word on what impact that will have on the lives of the seniors living in 444 senior living facilities in US of A, Canada and the EU.

The bottom of the page is devoted to Steen Pearlstein’s summary of the use of debt to generate profits for the flippers of Intelsat.

As a counter-point to all this, the upper right story is on how two senators are trying to block the Blackstone IPO. The problem is the private buyout shops are paying too little in taxes.

For now the private sector is awash in money and does not know how to spend it in ways to make citizens happy and safe a necessity if we are to preserve democracy and free markets over the longer term.

Read it a weep.

EMR

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Comments

4 responses to “WEEKEND READING”

  1. Reid Greenmun Avatar
    Reid Greenmun

    Yes, our nation’s economy is living on borrowed time and credit.

    This is a revelation to … who?

    EMR, soon you’ll have those new “human settlement patterns” you have been begging for – because large segments of the unemployed will be living in tent cities, as close to the government soup kitchens as they can get.

    You’ll be pleased as the masses walk to wait in line for some small amount of food.

    The 1930s will return and the suburban refugees will become abandoned in favor of the urban centers where government will doll out daily rations.

    The unsustainable service sector economy will collapse. It has to, it is a ponzi scheme.

    Build all the $700,000 suburban homes you like – without high paying jobs the house of cards falls, and the lovely neighborhoods go fallow.

    The foolish dependancy on foriegn oil and the internal combustion engine will devastate the United States.

    It is not that we don’t ‘se’ this coming, it is that the whole economy and government is to preoccupied with power and personal wealth to actaully think of the good of our nation ahead of their own luxury.

    Nations rise, nations fall.

    We hold these truths to be self evident.

    The trick is like the game of musical chairs, don’t get caught being the last person standing.

    Wealthy elites that “invest” globaly “understand” this reality.

    The masses watch American Idol and vote in larger numbers in those “races” than they do for the individuals that are supposed to be working to guide our local governments, our states, and our nation.

  2. E M Risse Avatar
    E M Risse

    Reid:

    Much of what you suggest is true.

    I am not sure where you are going with this but it does not have to end this way…

    As we note in The Shape of the Future, there will “always” be enough oil to lubercate solar powered mini steam engines.

    Hope you enjoy our column on energy conservation.

    EMR

  3. Ray Hyde Avatar
    Ray Hyde

    EMR:

    I think you are right in suggestiong that polititcians are looking for cover on fuel prices.

    “The top of the page reports on historic highs for home mortgage foreclosures, one important aspect of the Affordable and Accessible Housing Crisis.”

    Yep. and the business section also has an article on business sector real estate investing. One of the comments is that REITS that in vest in rental housing will benefit from a rise in forclosures.

    Whenever someone loses money, someone else makes money. People will live somewhere. If it is tent cities, then the tent vendors will enjoy short term profits.

    Heres’s to the last one standing.

  4. Ray Hyde Avatar
    Ray Hyde

    “there will “always” be enough oil to lubercate solar powered mini steam engines.”

    Yes, but what about the oil to run the caterpillar tractors to mine the sand for silica, let alone what it takes to refine it?

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