Even though a quick look at sites like www.whatreallyhappened.com could lead one to conclude that we're all phucked and that Nostradamus was right and everything else. Personally speaking I think that the USA might be phucked; I think that maybe, just maybe, we might be seeing the end of this scourge which is "Washington Consensus Capitalism". I sure as hell hope so because I've always known it was deleterious to human development, it was when my first economics teacher started her lesson with the words "Ceteris paribus is one of the assumtions of modern economics". Imagine if Einstein had made the brazen assumtion that all other factors in the Universe would remain unchanged so that he could study relativity...!
The "invisible hand" of Adam Smith was based on notions of "perfect information" in economic life, it also assumes that capitalists are not the greedy, self-serving gluttons that we all know them to be!
The fraud and scadals are all good in my opinion, better to expose the dirty scumbags now and get it over with, even if it means the collapse of the global economic system, in my humble opinion; the system SUCKS! So lets come up with something better than what we've got, let's release all the people who have been done for smoking a spliff and replace them with the profiteering gluttons who rape pensions to line their own pockets.
I still think my idea of Stocks in Tower Green is a great idea... We could all line up to throw the rotting filthy contents of the nearby McDonalds at them!