The Last Dodo: The Great Recession and Our Modern-Day Struggle for Survival

Crisis Quotes
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From the tavern stage, to the carnival tent, and the music hall stage, to the gymnasium, auditorium and finally the superdome, wrestling has been a sport of the people, expected to be performed in front of an audience. For those unable to attend the wild frenzy of matches, the local press kept the masses informed of regional events. But by the s, the small televisions screen brought pro-wrestling into the mainstream of American popular culture.

Today, daily hype on mass media broadcast entertainment of the WWE World Wrestling Entertainment ensures that pro-wrestling as a spectacle is seen, and seen by the masses.

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On the other hand, art photography as high art not to be confused with commercial photography , thanks to the unrelenting efforts of Alfred Stieglitz, has its place side-by-side paintings and sculpture within museums walls. As such, art photography is usually intended for an elite, informed audience. In addition to museums, she intentionally exposes her work in schools round the United States and in cultural centers such as the FNAC in France, for example.

And finally, her entire series is accessible on Internet on her official website www.

The 2008 Financial Crisis: Crash Course Economics #12

This wide circulation in diversified venues, media and countries reflects both her desire to reach a mass audience as well as the mass audience proving its interest in her photographic series. Photo after photo depicts a new subject, placed in a new environment, performing a new task. The narrative repeats itself, emphasizing the redundancy of the tasks set before the Mexican workers. The Mexican immigrant and the members of society incorporated within the frame are not on the same scale of motion. As Boy Wonder leans inertly against a street pole, the sharp focus and his centrality within the lines of perspective reinforce the impression that he is stuck in time.

In dramatic contrast, the blurred passers-by roaming down the street create the impression that society continues to advance while Boy Wonder remains stuck in the same situation. Or in the case of the waiter Mr. Elastic United States , this time society appears to be frozen in time as he incessantly repeats the same gestures.

In both cases, society and the workers encapsulate contrasting temporalities. It is about performance, not truth. Major elements of narrative, costume and excess inform the viewer that the Mexican is the face, the hero, within the ring of the American society. Or has it?

One could easily scoff contemptuously at the derision as another could appreciate the joke. At the same time, the superhero genre leads the viewer to understand that where there is a superhero, evil forces must be lurking not too far away. The question then arises: who or what is that evil force? The superhero has been made obvious, but the evil villain much less so. One might suggest the American society as the evil foe or perhaps Poverty itself which forces one to leave country and family to survive.


Most 21 st century immigrants come from Latin America, especially Mexico. There are an estimated 12 million illegal immigrants in the US, over half of which come from Mexico. However, this undocumented population plays an important role in the US economy, notably in the agriculture, construction and service sectors Passel. During the Great Recession, this became a great source of tension. Fears arose that this influx of Mexicans and other Latin Americans could challenge the WASP dominance both culturally and linguistically.

Unlike past immigrant groups, Mexicans and other Latinos have not assimilated into mainstream U. The United States ignores this challenge at its peril. This fear of Mexicans may play into one of the most common tropes in wrestling: the evil foreigner. The moment he too distinctly emphasizes his ethnic background he can not have widespread appeal. Similarly, a hero can become a villain by coming into conflict with a hero more popular than he or she. Are they to be seen as Mexicans? As Americans? As Mexican-Americans? As the devoted American patriot or the loyal Mexican temporarily working in the US?

As long as they appear to represent American values, without ethnic or racial emphasis, they are lauded as the underdog minority. However, if their patriotism may be doubted and their loyalty to the American homeland is uncertain as could be suspected by the large sums of dollars sent back to Mexico distrust and suspicion will prevail among certain Americans.

They are indeed, on the one hand the evil foreign heel and on the other, the minority underdog diligently applying American values. The perception continues to slide. As part of the superhero genre, the superheroes are without hope Ndaliansi p.

Could Scottish football go the way of the dodo?

Here again, the narrative traps the subjects into the personae of the workday — their individuality evoked by their name and their hometown is lost. They are playing out the role that has been assigned to them much as the wrestler in the ring follows his script.

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And for many, buying negative-yielding corporate debt makes sense because they may be able to sell those instruments at a profit when yields fall even further. However, it will gradually cease being over-hyped as it becomes merely one more tool in the arsenal of any blend. While traditional banks must rely on a specific set of data that users provide, Big Tech companies have access to detailed transaction information and other relevant data points. ISDA anticipates that existing contracts could be modified through a protocol under which market participants could agree to make all their contracts subject to the new definitions, provided the counterparties to each contract agree to do the same. To boot, the governments have had to pay millions to the banks to cancel their contracts.

No conflict is resolved, tensions are perhaps even acerbated. The message is that no matter what their efforts, as long as the source of their loyalty lies beyond the American borders, nothing can change. Barthes, Roland. Steel Chair to the Head.


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Durham: Duke University Press , pp. Cattaruzza, Nathalie.

Crisis Quotes

Coogan, Peter. This story should have caused widespread outrage and reform of the SEC; instead, it was buried in the back pages and lost to the public eye. Lest we think the timing of these was mere coincidence, the Goldman lawsuit was settled on July 15, , the same day the financial reform package passed. The government threw Goldman to the wolves in order to hide its own shame. When the government had its desired financial reforms, it let Goldman settle.

These examples demonstrate a clear pattern of manipulation. Unfortunately, our propaganda problem runs far deeper than lawsuits and Ponzi schemes. Here is a more important question: which companies own half of all subprime and Alt-A liar loan bonds? Paul Krugman writes that these companies were "mainly out of the picture during the housing bubble's most feverish period, from to As a result, the agencies played only a minor role in the epidemic of bad lending" [iii].

This phrase is stupefying. How can a pair of companies constitute half of a market and yet have no major influence in it? Subprime formed the core of the financial crisis, and Fannie and Freddie the "agencies" formed the core of the subprime market. They were not "out of the picture" during the subprime explosion; they were the picture.

The fact that a respectable Nobel prize-winner flatly denies this is extremely disturbing.

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Amazingly, any attempt to hold the government accountable for its role in the subprime meltdown is dismissed as right-wing propaganda. This dismissal is left-wing propaganda. It was the government that initiated securitization as a tool to dispose of RTC assets.

Bill Clinton ducks all responsibility, ignoring how his administration imposed arbitrary quotas on any banks looking to merge as Attorney General Janet Reno "threatened legal action against lenders whose racial statistics raised her suspicions" [iv]. Greenspan fueled the rise of subprime derivatives by lowering rates [v], lowering reserves [vi], and beating down reasonable opposition.

And at the center of it all were Fannie and Freddie bribing officials, committing fraud , dominating private-sector competition , and expanding to a six-trillion-dollar debacle.