"It is a choice to spend Black Friday in malls fighting other robotic consumers for iSomethings, the latest innovative, advanced TVs, flashy Rolexes, and ostentatious Coach bags rather than spending the day reading Guns of August by Barbara Tuchman, a brilliant Pulitzer Prize winning history of the outset of World War I, which would provide insight into what could happen on the Korean Peninsula. It is a choice to watch 6 hours per day of Dancing With the Stars, American Idol, Brainless Housewives of Everywhere, or CSI of Anywhere rather than reading Orwell or Huxley and discovering that their dystopian warnings have come true."  Read more from Jim Quinn's latest post, Lies Across America.

"Paying savers zero interest while lending to banks at zero interest is perhaps the greatest transfer of wealth in American history: from the masses to the very few rich that own bank stocks."  Mr. Practical in a rare visit to Minyanville.

"[T]he classic traits of banana republic finance...include massive and chronic government debt issuance; reckless monetary expansion to absorb it; and pervasive economic distortions that cause an uphill flow of income and wealth to the top of the economic ladder. The Obama White House’s latest act of fiscal desperation accomplishes all three."  David Stockman's latest.

"If inner-city gangs had done this to America, we'd have martial law.  If Arabs had done it, we'd have launched another war.  Wall Street bankers?  They've walked away scot free.  And they're actually being rewarded."  Brett Arends, Marketwatch.

"Instead of lending the money to entrepreneurs, business projects, and venture capital initiatives which actually create jobs and foster much needed economic growth, the big banks are just taking this cheap money and pouring it into commodities like crude oil, copper and grains."  Diane Chu explains why QE2 isn't working.

The View from Western Maine