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Entry: Panic Among the Ponzis Link: http://www.takimag.com/site/article/patton_or_montgomery#3520 Post contents: Taki: "In the good old days, bankers lent money to those who could repay. When greed set in during the go-go days, they started lending to people unlikely to repay them. But there was a catch. The bankers covered themselves by selling the bad loans to others, greedier than themselves, and made a profit out of doing so. The Ponzi scheme has now caught up with them, hence the blood in the markets." Taki sums up what Lasch called the "Revolt of the Elites", the swinging immorality of the 60's has come home to roost in America's elite, who bear no responsiblity for anything except their own self indulgence and short-term greed. The "World is Flat" according to the new elite, represented by the likes of Bush2, the grinning hypocrite of the CEO classes, who sell out America's legacy for a pocketful of gold. As bad as the Rothchild's were, they were not as bad as this bunch. Taki is right about that! If there was any argument against the idiocy of the folly of "fusionism" (the ill-conceived combination of social conservativism and Wall Street economics) it is our present "flat world" of constant war on behalf of aethistic capitalism and the culture of self-indulgence. "Destructive" Capitalism is no better then communism and the "libertarians" among the right are the mirror image of Marxist-Leninists, dangerous utopians that are the enemy of tradition and good order. Sent at: 2008 07 24