The Surrealist Vista

[CanonRay]

James Howard Kunstler

Some profound seismic infarction deep in civilization's very soul - brought on, no doubt, by the sludgy buildup of vast swindles and frauds - now propels deadly tsunamis toward the land masses where money dwells. And when they break over the shorelines of banking and capital, little may be left standing.

The latest rogue wave broke about ten days ago, when an orgy of foreclosure revealed massive irregularities in mortgage contracts and property titles, suggesting a slovenliness so arrant and broad that even the states' attorneys general woke from their narcoleptic raptures of golf to shut down transfers of distressed property. But this was only after the banks themselves declared "moratoria" in a perhaps vain attempt to forestall further discovery of their countless misdeeds. And somewhere along in there the title insurance industry had a whack attack.

During this period a new cliché issued from a million pie-holes: the rule of law. Well, as Joni once sang to we happy Boomers, "...you don't know what you got 'til it's gone...."

Complete piece at: http://kunstler.com/blog/2010/10/wait-for-it.html