Hak Pak Sak

Stephen Lewis on Infrastructure, Identity, Communication, and Change

More Links: Value Where No Value Exists … Service Economy, Information Economy, Dot-Com Economy, and the US Housing and Mortgage Fiasco

Posted by Stephen Lewis on May 26, 2008

In “Far from Normal,” Jim Kunstler takes this reference by the chairman of the US Fed to the state of financial markets as a starting point for an analysis of the waves of economic flim-flam and self-deception that fillede the last three decades. In The Giant Pool of Money the team of Chicago Public Radio’s This American Life presents the housing and mortgage disaster in a way we laymen can understand it, in an entertaining and poignant set of interviews with those who created the “toxic waste” sub-prime-mortgage-based instruments that nearly brought down the world’s economy and those who bought homes with mortgages they had no chances of ever paying off.

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