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  Friday  January 5  2007    07: 51 PM

some things to look forward to

The Age of Mammals
Looking Back on the First Quarter of the Twenty-First Century
By Rebecca Solnit


I've been writing the year-end other-news summary for Tomdispatch since 2004; somewhere around 2017, however, the formula of digging up overlooked stories and grounds for hope grew weary. So for this year, we've decided instead to look back on the last 25 years of the twenty-first century -- but it was creatures from sixty million years ago who reminded me how to do it.

The other day, I borrowed some kids to go gawk with me at the one thing that we can always count on in an ever-more unstable world: age-of-dinosaur dioramas in science museums. This one had the usual dramatic clash between a tyrannosaurus and a triceratops; pterodactyls soaring through the air, one with a small reptile in its toothy maw; and some oblivious grazing by what, when I was young in another millennium, we would have called a brontosaurus. Easy to overlook in all that drama was the shrew-like mammal perched on a reed or thick blade of grass, too small to serve even as an enticing pterodactyl snack. The next thing coming down the line always looks like that mammal at the beginning -- that's what I told the kids -- inconsequential, beside the point; the official point usually being the clash of the titans.

That's exactly why mainstream journalists spent the first decade of this century debating the meaning of the obvious binaries -- the Democrats versus the Republicans, McWorld versus Global Jihad -- much as political debate of the early 1770s might have focused on whether the French or English monarch would have supremacy in North America, not long before the former was beheaded and the latter evicted. The monarchs in all their splashy scale were the dinosaurs of their day, and the eighteenth-century mammal no one noticed at first was named "revolution"; the early twenty-first century version might have been called "localism" or maybe "anarchism," or even "civil society regnant." In some strange way, it turned out that windmill-builders were more important than the U.S. Senate. They were certainly better at preparing for the future anyway.

That mammal clinging to the stalk had crawled up from the grassroots where the choices were so much more basic and significant than, for instance, the one between fundamentalism and consumerism that was on everyone's lips in the years of the Younger George Bush. If the twentieth century was the age of dinosaurs -- of General Motors and the Soviet Union, of McDonald's, globalized entertainment networks, and information superhighways -- the twenty-first has increasingly turned out to be the age of the small.

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Forecast For the Year Ahead

Jim Kunstler


Finance has been trending away from economic reality since the Ronald Reagan era on an accelerating basis. By this I mean the role of finance no longer represents sets of mechanisms and institutions designed to raise legitimate capital for investment in legitimate productive activities. Finance is now an end in itself, essentially a racket. The capital is no longer capital, i.e. genuine wealth accumulated from previous productive activities. Now it is jive-capital: notional "wealth" spun out of activities that are fundamentally not productive -- for instance, sub-prime mortgages bundled into tradable securities. In reality, the mortgages backing these securities are contracts for repayment of huge loans made on hazardous terms by shifty means to people with poor prospects for making their payments for assets (suburban houses made of vinyl and glue) that are, in any case, fated to lose much of their nominal value, becoming worth less than the obligations yet due on them, and rapidly so.

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