Sorry I’ve been out of touch so long. It’s just that I’ve become quite disappointed/disaffected by the whole thing. We have failed and “they” have won. All the good that could have come out of the debacle has been lost… and it has broken my heart. The Powers That Be have no inclination to learn anything or correct any of the imbalances. What is even more soul crushing? They are actively and desperately attempting to wrench things back to the way they were. That would be “Mission Accomplished” and it disgusts me.
...
What throws me over the edge is the trend line of where things are headed. All the garbage the people find so offensive — CDOs, proforma loan origination with risks shuffled off to the dumb money via securitization, a culture of insider trading where the playing field is anything but level — is but months away from again becoming the status quo. AND THAT IS EXACTLY WHAT THE AUTHORITIES WANT!!
We have lived through the single greatest injustice in the history of mankind. And it all played out in shockingly clear detail. Yet nothing is going to be done about it. No ill-gotten gains will be disgorged, no rules will be meaningfully changed, and not a single person who caused this will be asked to answer for their misdeeds. The American people have been robbed at gunpoint… and no one cares.
...
Now I’ve moved on. We’re now in the biggest bubble of all time… and I’m more confident than ever that I know how this ends. This ends in tragedy, in a way where no one will be left standing. They’ve turned what would have been a complete collapse of the private sector economy into something that at some point will be a complete collapse of our system as we know it. These sorts of imbalances — economic, social, and political — can not be sustained indefinitely. They will destroy us… I have never been more sure of anything.
Until then however, I’ve given up. They have won and it has broken my heart.
http://www.nakedcapitalism.com/2010/04/e-mails-from-mordor.html