July 2009 Archives

Evil Syndicated


449 Comments

   Apologies to readers for late posting today.  There was some systemic problem with the Moveable Type utility that we use to coordinate the blog and its archives with the kunstler.com website.*     By now, everyone in that fraction of the world that pays attention to something other than American Idol and their platter of TGI Friday's loaded potato skins knows that Goldman Sachs has been caught at another racket in the stock market: front-running...

Is Obama Gorbachev?


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    The eulogy for Walter Cronkite as "the most trusted man in America" on the CBS "Sixty Minutes" show said a lot about the condition of this nation -- though it did not signify what CBS thought it did.  It wasn't about the death of one hugely esteemed individual; it was about the broad institutional failure of TV news in general and the current grievous loss of legitimacy and authority in shaping a national consensus...

Wobble Time


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     The cat coming out of the bag this week -- a frazzled, flaming, rabid, death-dealing cat -- is the news that Goldman Sachs will announce impressive second-quarter profits, and set aside $18 billion or so for employee bonuses averaging $600,000 per head (though, of course, not evenly distributed among them).  There probably are not fifty-three people in the USA who can explain how this development figures in with last fall's bailout gift from the...

The Free and the Dead


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       I was out on a big Adirondack lake in a canoe this weekend while the American economy was dying -- but you wouldn't have known it for the fleets of giant power boats dragging children back and forth across the water on rubber tubes, and the giant camping vehicles crammed into every bare spot. How do people pay for these things, I wondered. For not a few, installment loans, no doubt -- though that...
 
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