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Reply #10: Don't let Kunstler scare you. [View All]

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Voltaire99 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-08-08 11:08 AM
Response to Reply #1
10. Don't let Kunstler scare you.
James is a delightful social critic and snazzy prose stylist but a terrible, terrible economist. In the years I've followed him, I've lost track of how many times he's predicted an imminent market crash or oil drought.

His problem is that he's blinded by schadenfreude. Dude really can't wait for it all to go to shit. But impotent rage is no model for analysis.

Yes, he's right about our need to abandon the "happy motoring" exurban living arrangement. But he's an amateur pissing in the wind when it comes to predicting collapse which he does with alarming regularity and certainty, later unashamedly professing disbelief that the idiotic culture hasn't hurried up and dissolved on schedule.

For heaven's sake, don't base a single assumption about anything that comes out of his lurid pen. It's no better than turning to L. Ron Hubbard for spiritual guidance. Read him for his other virtues -- the wit and the anger -- and take his doomsday stuff with a big grain of salt.

For less unhinged economics writing, try Nouriel Roubini, Michael Hudson or Calculated Risk instead. Each is a sharp critic of the present order, but with far more credibility than Kunstler.
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  -Fed eyes extending emergency loans for Wall Street flashl  Jul-08-08 07:48 AM   #0 
  - We're fucked, people  sshan2525   Jul-08-08 08:01 AM   #1 
  - From the link:  flashl   Jul-08-08 08:34 AM   #4 
  - Don't let Kunstler scare you.  Voltaire99   Jul-08-08 11:08 AM   #10 
     - This is the same evaluation of the "doom-sayers" in 1929.  AdHocSolver   Jul-08-08 10:40 PM   #14 
     - Most economists are propagandists for the rich. Read Kevin Phillips to understand what is going on.  AdHocSolver   Jul-08-08 10:49 PM   #15 
  - Eindlossung  Turbineguy   Jul-08-08 08:04 AM   #2 
  - Wish someone would bail me out of my bad decisions  Tindalos   Jul-08-08 08:18 AM   #3 
  - Yeah, I wish I could get the government to cover my gambling tab!  htuttle   Jul-08-08 09:07 AM   #7 
  - No, its 'Personal Responsibility'...  kirby   Jul-08-08 09:39 AM   #8 
  - I'm with you...  KansDem   Jul-08-08 09:55 AM   #9 
  - so the wealthy pilfered just average Americans can bail them out  fascisthunter   Jul-08-08 08:38 AM   #5 
  - Yeah, "loans". more corporate welfare. and here I didn't even think I was clarvoyent...  Javaman   Jul-08-08 08:55 AM   #6 
  - They're not loans. They're "loans."  PSPS   Jul-08-08 07:06 PM   #11 
  - Don't bail out these Wall Street shysters.  ozone_man   Jul-08-08 07:19 PM   #12 
  - They won't be able to re-pay the loans, and the Fed will write the loans off.  Zorra   Jul-08-08 07:27 PM   #13 
 

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