Financial bubble - who will say that the emperor is naked?

I'm on record saying (repeatedly) that we have a huge, unsustainable asset price bubble, and that banks are doing insane things right now. And those of you that have read me previously may remember my quip that a good banker is not one who is right, it is one who is wrong at the same time as the other bankers (and thus bankers right now have no incentive not to participate to the increasingly aggressive deals one can see around). The scariest thing is that a large number of senior bankers are aware of what I'm saying, are on the same line - and are doing nothing about it.

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Labor Lost

Reporter Charlie LeDuff visits McMinnville, Tenn., where former factory workers now line up outside an unemployment office.

As an aside, the video Labor Lost was shot with an Ikomat, which is a 2 1/4 inch folder rangefinder still camera made in 1952. Read about it here.

Here are three pieces from the always intresting Culture of Life News

Mike Publishes Interview With Yours Truly

China Finally Gets To Build Most Of Boeing Jet Parts!

'Financial Armageddon' By Michael J. Panzner