This is yet another excellent article by Charles Hugh Smith that he posted on his blog, and was picked up by Zero Hedge. I recommend reading the latter if you’re pressed for time, as Tyler has conveniently highlighted the salient points of the article for your viewing pleasure. Also, there’s a lot of good comments at the end as usual.
I read Zero Hedge every day. It is a good antidote to the b.s. “economic recovery” news stories in the mainstream media. Another good blog is The Automatic Earth.