Now we're in a terrible fix. People are scared and removing their money from the banks and money markets. This is intensifying the freeze in the credit markets and driving stocks into the ground like a tent stake. Meanwhile, our leaders are caught in the headlights, still believing they can finesse their way through the biggest economic cataclysm since the Great Depression.

If something is not done to increase the flow of credit immediately, the stock market will tumble, unemployment will spike, and many businesses will grind to a standstill. We could be just days away from a severe shock to the system. Secretary of the Treasury Henry Paulson's $700 billion bailout does not focus on the fundamental problems and is likely to fail. At best, it puts off the day of reckoning for a few weeks or months. Contingency plans should be put in place so the country does not have to undergo post-Katrina bedlam. [More]

And there are things to be considered. Where are you living? What are you doing? What are your relationships? Are you in the right relation? Where is your water? Know your garden. It is time to speak your truth. Create your community. Be good to each other. And do not look outside yourself for the leader.

There is a river flowing now, very fast. It is so great and swift that there are those who will be afraid. They will try to hold onto the shore. They will feel they are being torn apart and they will suffer greatly. Know the river has its destination. The elders say we must let go of the shore, and push off and into the river, keep our eyes open, and our head above the water. See who is in there with you and Celebrate.

At this time in history, we are to take nothing personally. Least of all ourselves. For the moment that we do, our spiritual growth and journey comes to a halt. The time of the lone wolf is over, gather yourselves!

WE ARE THE ONES WE'VE BEEN WAITING FOR.

A major flaw of Peak Oil is that it is based on a static, or technology-neutral, assumption: it implicitly assumes that limits to oil are set as natural, innate, and immutable. Yet, limits to oil, like those to most other resources, are determined as much (if not more) socially as they are naturally. Research, development, and technological advances have made (and will continue to make) both the amounts of oil reserves and of oil production much more fluid or elastic than perceived by the champions of Peak Oil.

Another equally-flawed proposition of Peak Oil is that it implicitly views the limits of oil supply independent of substitutes or alternative sources of energy. These include solar, wind, non-food bio-fuel, and nuclear energies. They also include natural gas. Further, they include “unconventional” oil: Tar Sands, Heavy Oils, and Oil Shale. Although, with the exception of natural gas and nuclear technology, the use of these substitutes is sill quite expensive, and therefore, limited, technological advances are bound to reduce their cost and increase their sue. [More]

We must be thankful for this sign that American democracy is not completely dead and supplanted by executive branch authority. However, whatever bailout package that emerges will fail unless it takes into account the following.

Any package that maintains the mark-to-market rule and permits the resumption of short-selling will undermine itself. In panic conditions without the existence of a market, the mark-to-market rule results in asset prices being driven below their values, thus eroding balance sheets and producing insolvencies. Short-selling permits short-sellers to profit by destroying the share prices of institutions suffering balance sheet problems, thus eliminating their ability to borrow and driving them into failure. A bailout, however large, that maintains the mark-to-market rule and permits short-selling will pour money into a black hole. [More]

Afghanistan has been at the center of great power games for centuries. But outsiders have always failed to tame the spirit of resistance of its people. At the peak of their dominance, the British and Russian empires played the Great Game. In the Cold War, it was between America and the Soviet Union. Today, as the United States, the only hyperpower in the world, tries to reshape the Afghan state, it finds the new game as difficult as ever.

As the turbulent presidency of George W. Bush comes to a close, it leaves a legacy of two wars, with colossal economic and human costs. And America needs a president who knows how to extinguish the fires of war abroad and how to lead his own country into a period of renaissance once again. [More]

For those who don’t know America well, big white weddings with all the trimmings remain - despite the social and sexual upheavals of the last half century, despite wars and threats of wars - an important part of popular culture... It is by appealing to such boiled-frosting, satin-ribbon fantasies that Republicans hope to push John McCain over the campaign finish line and into the White House. The last week or two of the campaign would be ideal timing, surrounding John McCain and Sarah Palin in a fluffy, sugar-sprinkled haze. Imagine voting against the distinguished-looking old man in a tuxedo on the front pew with the beneficent countenance of a proud grandfather? Or the mother, gowned rather than in mukluks and hunting gear, eyes moist, watching “her baby” march to the alter?

Clearly, this is not matter on which an election anywhere should rest, much less in the world’s most powerful country, one staggering through war and financial crisis. Indeed, the Republican campaign, as it well deserves, has faltered on the merits. McCain is a tired old man with a sour temperament and a narcissistic personality who picked as his sidekick a person who would have reached the limits of her talent as captain of a cheerleading squad. Although certainly not the limits of her ambitions, but isn’t that what America is about, your reach exceeding your talent? [More]