This article by Yves Smith is cross-posted from Naked Capitalism.

Washington DC appears to be readying itself for a repeat of the TARP, namely, the passage of unpopular legislation to appease the Market Gods (and transfer even more income from ordinary Americans to the Masters of the Universe). It isn’t yet clear whether this drama will be played out via generating bona fide financial market upheaval or mere threat-mongering (the Treasury market seems pretty confident that well-trained Congresscritters will fall into line). But unlike the TARP, which was a classic example of well-placed interests finding opportunity in the midst of upheaval, this reprise is a far more calculated affair. (more…)

Khloe Kardashian, Donna D’Errico of Baywatch, former Miss USA Susie Castillo, Playboy nude-model Tammy Banovac, Jesse Ventura and Alex Jones: to most Americans, a list of names like that sounds like the punch-line to an elaborate pop culture comedy routine. Or maybe the cast of another John Waters kitsch-flick, or another one of those degrading reality shows. If that’s what you’re thinking, then you’re clearly one of the brainwashed “sheeple.” You can’t appreciate that Khloe Kardashian & Friends are modern-day American Martyrs– victims of TSA airport gate screener “Nazis,” a jack-booted “Gestapo” who “gate-rape” and “genocide” Americans on a daily basis. Khloe, Donna, Tammy and Susie aren’t sheeple, though–they’re our modern-day George Washingtons and Thomas Jeffersons fighting for our constitutional liberties, and some day our children may owe their freedom to Khloe Kardashian’s Army. (more…)