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The Reckoning: A Planet on the Brink
I have never seen anything like this. The smoke is not clearing yet, but one thing is unmistakable. The concentration of financial power is stunning. There are now only two investment banks left on Wall Street. Morgan Stanley and Goldman Sachs. Also two major banks. B of A and Citicorp. Giants have certainly fallen, but even bigger giants remain.
Both are not in good shape though.
Abroad, the war is spreading towards Pakistan. A dangerous, but understandable escalation. But Pakistan has nukes.
I'm not really sure now it matters who becomes president.
This current situation is bigger than any single person.
But Obama will probably handle it better.
He had my vote long ago.
As far as global warming goes the issues I just mentioned will be top priority for any incoming administration. Green issues will take a back seat even though they are critical.
The disconnect between off-line and on-line reality continues, however. Most of the chatter on TPM is focused on a political horse-race/entertainment extravaganza.
The rest of the media too....
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