I’ve still read much that was a better take on the underlying issue than this piece from Eric Janszen in February’s Harpers.
Nowadays we barely pause between such bouts of insanity. The dot-com crash of the early 2000s should have been followed by decades of soul-searching; instead, even before the old bubble had fully deflated, a [...]
Tag Archives: Wall-St
Lambchop bubbles
October 8, 2008 – 4:49 pm
The Dow is a root vegetable
October 7, 2008 – 7:18 am
Nothing that has happened in the last few weeks has done anything to change my mind on this … pet theory, offered only half in jest: markets should only be reported once a month. Thus: “The Dow went up and down on an almost hourly basis over the past month, the net result has been [...]
Wall St, madmen and martinis
October 1, 2008 – 2:51 pm
I’m trying not to think about it. About Wall St, and profligacy, and just how big $700 billion might be, and the leveraging of greed into something so consuming. It’s depressing, as is the prospect of calibrating a global response to climate shift disaster against this sort of thinking. It’s otherworldy, disconnected. This distant implosion [...]
Don’t panic, we’re well placed
September 30, 2008 – 10:56 am
With the US bailout sitting in pieces on the floor of the House, now they’re talking about the US Fed taking an equity stake in leading banks. free market capitalism? Last week’s idea already. Lets nationalise the banks. Help. Australia. Got to have the Australian angle, how else could we digest this moment? “We are [...]
Markets, panic, idiocy and Galbraith
September 18, 2008 – 2:54 pm
A wonderful thing in Ken Silverstein’s Washington Babylon at Harpers. He quotes John Kenneth Galbraith in his 1954 book The Great Crash:
In the autumn of 1929 the mightiest of Americans were, for a brief time, revealed as human beings. Like most humans, most of the time, they did some very foolish things. On the whole, [...]
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