Speaking of civil rights… The EEOC is clearly avoiding big-company, large-scale civil rights cases. Instead, they’re spending our money litigating against “mom and pop” violators. Anyone see a pattern?

The result is a situation in which credit cannot be secured by assets whose value is unstable and likely to decline. A new collective action problem sets in: each player finds it expedient to hold on to his money, and the cumulative effect is a shortage of funds necessary to enable new transactions. The economy grinds to a halt and the goverment demands unfettered power to do whatever it deems necessary in response. Citizens panic and concede unprecedented new powers to the state, and a fascist regime (what is now euphemistically being called “corporate socialism) is established. Normal political processes are suspended or modified beyond recognition. Internal and external enemies are identified and systematically targeted. The news media become official agents of the state. Civil liberties are further abrogated. You know the rest.

And if you think this scenario is far-fetched, consider that every one of these steps has already begun.