Centuries ago, news of momentous events traveled throughout the countryside by means of beacon fires, alerting all along the route to big changes coming. September and October 2010, are shaping up to be the time of the beacon fires when it comes to foreclosure fraud.

It looks like we’re approaching an inflection point of great danger in working through problems in creating Economic Recovery. The inflection point is coming because there has been little economic recovery both internationally and domestically, with some nations continuing to run large deficits, and a growing chorus from many, calling for austerity and Governmental budget balancing even though it’s well known that the consequences of these policies will be economic contraction and further hardship for all of us but the rich. The big question is: which way will nations that have debts held in their own sovereign currency like the United States, the United Kingdom, Japan, and Australia go? Will they listen to the domestic and international deficit hawks (e.g. the ratings agencies, the IMF, the European Commission (EC), and various currency traders and hedge fund managers) and cause further contraction and hardship for their citizens, or will they tell the deficit hawks to “take a hike,” create demand from the public sector, where private sector demand is falling short, full employment, and healthy economies?

I can’t answer this question, but what they ought to do is stated quite clearly in a recent blog post by L. Randall Wray and Yeva Nersisyan. Here’s an extensive sampling of their views along with some comments.

Party liners’ reading of Massachusetts as cause for retreat only affirms how disconnected they truly are.

Obama one year in seen through the guise of Coakley/Brown and Elvis

After Wednesday’s oddly tone-deaf response that he was “surprised” and “frustrated” about losing the Safest Senate Seat in the United States by 100,000 votes to a political unknown, I have to wonder if Obama really wants to be President anymore.

The North Carolina Democratic Party’s e-mail response to Coakley’s loss.

“Where are the other potential Dem collapse areas this Nov? Almost precisely the places Hillary carried in the 08 prez primary”

Brian Butler and Eric Kleefeld over at Talking Points Memo have a very good run down on just when the Senate might seat Scott Brown, assuming the Right wing Republican manages to win in the special election that is being held today. As we know from the Roland Burris and Al Franken seatings the Senate has a rule which requires the State certification of election or appointment before a new Senator can be seated.

Whether it’s Coakley or Brown, the real winner in today’s election for Teddy Kennedy’s Senate seat will be the health insurance companies. Their stocks are rallying strongly.

Laura Clawson at Daily Kos is doing a good job covering the election.