When you bite down into that hamburger, do you know what's in it?   Well, the new mystery meat is the massive financial black box _{(what's inside is anyone's guess!)} world of derivatives and credit default swaps.

Finally, the New York Times writes a detailed article, What Created This Monster, and exposes even world leading economists do not know what derivatives are or in most cases, the details of how they work.

These products are virtually hidden from investors, analysts and regulators, even though they have emerged as one of Wall Street’s most outsized profit engines. They don’t trade openly on public exchanges, and financial services firms disclose few details about them

If you ever noticed how magically no-bid contractors sprung up upon the decision to invade Iraq or how conveniently the residents of New Orleans were bused out after Hurricane Katrina and the 9th ward was never rebuilt...how that little something isn't quite right fly buzzes in the back of your brain while you returned to economic survival of your own, I have a must read book for you.

The Shock Doctrine - The Rise of Disaster Capitalism by Naomi Klein.

Klein has identified a new corporate strategy of using natural and man made disasters to push through corporate profit driven privatization and other agendas while the general public are disoriented, confused and thus have no ability to resist.

She calls Disaster Capitalism the rapid-fire corporate reengineering of societies that are reeling from shock.

While the markets rallied and folks cheered the Feds, proclaimed they saved the day, a dissenter emerges in the form of Winter Watch via Dr. Strangelove: Trial Ballooning More Disasters.

Today, the Fed announced a new liquidity plan.

the Fed announced a plan to resuscitate the ailing credit markets by lending $200 billion to battered financial firms in exchange for debt- or mortgage-backed securities. Starting March 27, the central bank is planning to offer weekly auctions, which could exceed $200 billion if there is sufficient demand, the Fed said.

I felt alone in the perception of an enabled ponzi subprime mortgage game continuing unabated, a shell game to push off this greedy disaster onto the taxpayer. Was I wrong? Did I just not understand? After all the market went up the highest 1 day rise in 5 years.

From Winters:

You have probably never heard of the Horizon Project or even Ralph Gomory and William Baumol and their book on Trade and Conflicting Interests..

But, these policy proposals are unique, innovative and deserve strong consideration and discussion.

The Horizon Project's Agenda:

Project members believe we need to act now - on economic & trade policy issues, education, health care and public infrastructure investment - to stave off the rosion of our competitive advantages and the loss of the nation's middle class base