Lies, Frauds, and Cons

"...The lies, frauds, and cons run between the axis of Wall Street and Washington had two fatal consequences with still-lagging effects.

1) They destroyed the capacity for markets to establish the real price of anything - rendering markets useless.

2). They disabled capital formation to the degree that we might not have the money to rebuild an economy to replace the “financialized” matrix of rackets that currently pretends to function.

[We] wait for the moment when the fog of pretense lifts and exposes all the broken machinery within.

We may be so close now that you can smell it."

http://kunstler.com/clusterfuck-nation/the-era-of-bad-feeling/