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" "Banking also regained respectability after the calamities of the 1930s. Federal deposit insurance, which had been instituted in the depths of the Great Depression, and only for deposits under $2,500, was raised to $10,000 in 1950, and the middle class was induced to feel confident about keeping its money in banks again. Interest rates remained modest, but so did inflation. The influx of savings made money available in capital markets to invest in new ventures. It was real money derived from work already done, pay already earned, true capital. Before the great orgy of mergers and consolidation that began in the 1970s, retail banking was… local and community-centered. Bankers made loan decisions based on firsthand knowledge of projects going on in their communities—not, as today, based on bundling and selling clumps of mortgages for generic suburban developments they have never laid eyes on.
James Howard Kunstler (born October 19, 1948, New York City, New York) is an American author, social critic, public speaker, and blogger.
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Like China, the United States is divided… in half between wet and dry. Though the human population of the United States is proportionately much smaller than China's, the amount of effort America has expended on manipulating habitats and altering terrain is as impressive in its own way as China's birthrate. Especially significant is the stupendous amount of paving laid down in the United States during the past hundred years. It prevents rain from being absorbed as groundwater and sends it instead into rivers, and… into the ocean. The effect of this is the inability of water tables and wetlands to recharge and the diminishing ability of the terrain to support life. In the United States, only 2 percent of the country's rivers and wetlands remain free-flowing and undeveloped. As a result, the country has lost more than half of its wetlands.
I lay awake... listening to the rain drip from the eaves and thinking of the big map that hung from the top of the chalkboard in my primary school in Wilton, Connecticut, so many years ago, back in the days of cars, television, and air-conditioning. The states on this map were muted tones of pink, green, and yellow. Over it hung the flag that we pledged allegiance to every single morning. "One nation under God, indivisible..."
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…we were becoming very delusional about the set of predicaments that we’re facing. I’m a little shocked at the quality and character of the delusional thinking and where it’s coming from. When you see articles in the New York Times, the supposed newspaper of record, that the USA may soon become a net energy exporter, you know there’s some kind of problem with perhaps the entire intellectual class in America.