The Phaserl


Here’s Why the Status Quo Is Doomed

from Washington’s Blog:

The central illusion of this era is that the Status Quo can be reformed or saved.All we need to do is (or so we’re told):

1. Get money out of politics

2. Re-impose the Glass-Steagall Act on banking

3. Close the tax loopholes exploited by corporations and the wealthy

But none of these reforms–or any of the other good-governance tweaks habitually promoted by left, right, center and Libertarian–can save the Status Quo. For what’s wrong with the Status Quo is systemic: tweaking rules and limiting excesses may make us feel like we’ve accomplished something useful, but that sense of accomplishment is illusory.


4. Overturn the Supreme Court decision giving corporations personhood

5. Restrict the Imperial War Powers of the president

6. Restore the civil liberties stripped by post-9/11 legislation

and so on. All good-governance, all prudent, all necessary.

The problem is the Status Quo only works in a world with plenty of room to expand–a world of virgin resources ripe for exploitation (oops, I mean development), easy-to-extract abundant energy, and an expanding population with rising productivity and little debt.

In this world, there’s plenty of room for everything to expand: resource extraction, energy consumption, population, productivity, income and debt.

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1 comment to Here’s Why the Status Quo Is Doomed

  • rich

    Leaked Seattle Audit Concludes Many Mortgage Documents Are Void

    A Seattle housing activist on Wednesday uploaded an explosive land-record audit that the local City Council had been sitting on, revealing its far-reaching conclusion: that all assignments of mortgages the auditors studied are void.

    That makes any foreclosures in the city based on these documents illegal and unenforceable, and makes the King County recording offices where the documents are located a massive crime scene.

    The problems stem from the Mortgage Electronic Registration Systems (MERS), an entity banks created so they could transfer mortgages privately, saving them billions of dollars in transfer fees to public recording offices. In Washington state, MERS’ practices were found illegal by the State Supreme Court in 2012. But MERS continued those practices with only cosmetic changes, the audit found.

    That finding has national implications. Every state has its own mortgage laws, and some of the audit’s conclusions may not necessarily apply elsewhere. But it shows how MERS reacted to being caught defrauding the public by trying to sneak through foreclosures anyway. Combined with evidence in other parts of the country, like the failure to register out-of-state business trusts in Montana, it suggests that the mortgage industry has been inattentive to and dismissive of state foreclosure laws.

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