And, in fact, we just found out that AIG, a company that got a bailout, just a week after they got help went on a $400,000 junket.

So I went and found the story about the AIG Junket, but what I can’t find is the story about the working class rioting in the streets. Because there is no story. I guess they’re all too busy, wiping tables, cutting hair, dumping garbage and detailing cars in a futile effort to make their next mortgage payment.

As per usual, Kunstler was right when he noted the following Monday:

The Big Bailout of last week may be partially rescinded as it becomes obvious that it has had no effect — I believe about half the $700 billion has already been allocated, which is to say: lost.

“How can we trust either of you with our money when both parties got us into this global economic crisis?” – Teresa Finch to both candidates during the Second McCain-Obama Presidential Debate

Check out this story from US News: The Biggest Bailout

The Federal Reserve extended an $85 billion loan to American International Group to be paid back as AIG sells off some business in the biggest government takeover so far in the ongoing credit crisis.
And don’t miss her now legendary “Let’s Play Wallstreet Bail-Out” speech, given September 22, 2008 on the floor of the House of Representatives says it all. Click on More for the complete transcript.

Ms Katur has since gone on to initiate legislation to actually fix the United States’ financial system as opposed to just putting a pricy bandaid on it. See: October 1, 2008: Kaptur and DeFazio Propose the No BAILOUTS Act

“We want a good bill, not a fast bill. We want a bill that will really work,” said Kaptur, the senior-most woman in the House.

If you think it can’t happen, think again. Just this week, the Federal Reserve rescued the stock market again. Here is how James Howard Kunstler described it in his blog entry “A Real Freak Out” March 17:

Over the weekend, the Federal Reserve engineered a $30-billion dollar Saint Paddy’s day present for the JP Morgan bank by handing them the corpse of Bear Stearns. The object of the game is to prevent the “assets” of Bear Stearns from going to the auction block, on which they would be discovered to be nearly worthless, which would instantly render all similar assets held by the other big banks to be similarly worthless, and would result in a universal margin call that would pretty much unwind the hallucinated “wealth” acquired the past ten years.
I am both elated and terrified. If it’s going to happen, I’d rather it happen soon. And yet, we aren’t quite ready. The power went out the other day and with it went our water because we have yet to replace the electric pump with something more sustainable.

Although we are mentally prepared, we need to get ourselves completely off the grid. Luckily, we are surrounded by a large group of extremely resourceful, like-minded people. Many of them are directly involved in growing food and/or making fuel. And we already process most of our food, including bread, Tempeh, tofu, and sausage.

Realistically, the crash will play out as more of a slide, giving us plenty of time to install contingency infrastructure while at the same time giving us plenty of time to procrasti