This is completely scary shit. If you believe this video or what the Daily Kos and the money experts at The Motley Fool reported, September 18, 2008 nearly spelled the end of Western civilization as we know it. And, no, this isn't hyperbole or dramatic license. According to the Daily Kos, "In a span of two hours, $550 billion was drawn out of money market accounts in an electronic run on the banks." This panic put the entire globe close to a point of no return with the near collapse of the worldwide monetary system. Had it not been for the Fed infusing billions of dollars and guaranteeing deposits (Um, gee, thanks . . . I guess), the domino effect would have been a financial Armageddon. Check out the story and video here.
In 1990, I co-founded a magazine called URB (urb.com) in Los Angeles. URB captures an intimate view of progressive urban sounds and landscapes in print and online. Beyond my day job, I also explore the world of politics, race and culture, photography and media (new and old). pure/ROKER is designed to be a living and shared notebook of the most discussion worthy aspects. Enrichment is encouraged. Debate and disagreement unavoidable. And dissent welcomed. As always, please leave a comment if you're inspired, subscribe to my RSS or email me anytime at email@example.com.