Summary: Now inequality has become too extreme to ignore and the 1% has crushed all opposition, we begin to see the results of their successful counter-revolution. But we do not yet see the hidden struggle that brought the 1% back to power, and cannot yet see how to reform America. Until we see these things … Continue reading The 1% won a counter-revolution while we played. We forgot that we are America’s crew, not passengers.
Summary: The monthly employment report provides the opportunity to look at the New America being built on the ruins of the own. While seldom remarked, it clearly appears in the data. Also, we take a moment to reflect on the purpose and operation of the FM website. "Big industry constantly requires a reserve army of … Continue reading Let’s reflect on the course of the US economy. Not a pretty picture.
Summary: One of the great challenges of the 21st century will be managing the next wave of automation. This rise in productivity can make us richer, create feudal-like inequality, or spark massive social conflict. The result depends on our decisions. The first step, as always is problem recognition. Today we took another small step forward. … Continue reading Krugman discovers the Robot Revolution!
Introduction: This is the second in a series of dashed off speculative opinions. Normal procedure on the FM website for these topics would be 3 thousand word posts, supported by dozens of links. I dont’ have the time to finish them, and too many of these outlines have accumulated in my drafts file. Perhaps these will spark useful debate … Continue reading The breakdown of the American political system, pointing to a new and better future
"Hegel says somewhere that all great historic facts and personages occur twice, so to speak. He forgot to add: "Once as tragedy, and again as farce." --- Opening line to Karl Marx's The Eighteenth Brumaire of Louis Bonaparte (1869) The unofficial poet-laureateof the British Empire was Rudyard Kipling. He described its contradictions, wonders, and horrors … Continue reading Niall Ferguson, poet-laureate of the American Empire
The crash of the post-WWII debt supercycle will ripple out though our society in ways we cannot now imagine. There are a few who can grasp the trend of events and see what lies ahead. Like this article by Brad Delong, economics professor at Berkeley: "Today in Financial History", posted at his blog Grasping Reality with … Continue reading America is changing. Read some chillling words from a liberal economist
Summary: This post examines one of the best and most influential articles written to guide our Middle Eastern Wars, using it to illustrate serious -- perhaps decisive -- flaws in our thinking. Not just our strategic thinking, but the very way we see the world. On this site "we" usually means America, but in this … Continue reading Why do we lose 4th generation wars?