Obsolence of nation-states.

Many people are commenting on the failure of nation-states and how primary loyalty to nation-states comes from ordinary citizens.

It is apparent that the monied elite, such as bankers, are loyal to their own institution and could care less what happens to the USA or the respective country the banker, or other monied elite, lives in.

As this post by, the excellent thinker, John Robb states:

"Due to excesses (too many to name), legitimacy is rapidly draining from the global financial system and the networked groups that give it their primary loyalty (like Fred above). In recognition of this, nation-states should hold this system at arms length to limit damage to their own legitimacy. Given the constraints on resources faced by nation-states, a plan that would bulk up legitimacy would focus on reorganizing financial institutions (not bailing them out) and repairing the balance sheets of individual citizens (the only group in the chart to the left that is still loyal to nation-states). That isn't happening and the damage incurred from this mistake will be significant."

Looting of the USA by corporate and other monied elites.

I haven't exactly been following the news in a couple of weeks and have just been amazed at the crap that is going on.

Check out this excellent post by, John Robb. I advise following this guys blog during these times, he is truly a visionary.

"The Looting Process
Everyone is loyal to a network type. Many of those in the current elite are loyal to the market network. They don't care about institutional (nation) or the greater good (open source networks). They don't even really have a tribe that benefits from their activities. Just short term mutual interests.

This puts the above into perspective:

Boris Fyodorov, the late Russian Minister of Finance who struggled for many years against corruption and the abuse of authority, could be blunt. Confusion helps the powerful, he argued. When there are complicated government bailout schemes, multiple exchange rates, or high inflation, it is very hard to keep track of market prices and to protect the value of firms. The result, if taken to an extreme, is looting: the collapse of banks, industrial firms, and other entities because the insiders take the money (or other valuables) and run. This is the prospect now faced by the United States."

Also, check out the Jon Stewart video, he links to on his site, about CNBC and the current financial crisis that is truly disturbing. Jon Stewart, is the real news reporter during these times!!