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Sep 9, 2009

James Galbraith on the US financial system's 'Lost Decade' potential

Author, economist, and University of Texas Professor James K. Galbraith, son of economist John Kenneth Galbraith, has one of the clearest views of America's financial situation that I've read in a long time.

Professor Galbraith's directness about finances and politics is very refreshing in this time of obfuscations, heists, purposeful confusions, underhanded political strategies, and deceits.

You've probably read his articles in The Nation, Mother Jones, The American Prospect, and other publications; his 2008 book, The Predator State is on my reading wish list.

Professor Galbraith's Home Page at the LBJ School of Public Affairs at the University of Texas has more info on his work, if you'd like to check it out.

And here's one of his quotes from his Wiki bio which I'm lovin' about now (the quote, not the bio which is too slim to tell me where he was born) ~~ Update 9.10.09: see Comments after this post for the professor's own admission - he was born in Boston, probably 'in the evening'! Continuing his quote here:

"Today, the signature of modern American Capitalism is neither benign competition, nor class struggle, nor an inclusive middle-class utopia. Instead, predation has become the dominant feature -- a system wherein the rich have come to feast on decaying systems built for the middle class. The predatory class is not the whole of the wealthy; it may be opposed by many others of similar wealth. But it is the defining feature, the leading force. And its agents are in full control of the government under which we live."

Well, Professor Galbraith just summed up in one neat paragraph about 3/4 of this blog's almost-3000 posts of the last 4 years! And...he said,


James K. Galbraith born Jan 29, 1952, hour and place unknown; Sun 8-10 AQ, Moon 10-25 Pisces; PE @ '8Vir' 7 South Series: 'tremendous anger, power, force; obstacles suddenly clear, or, a quick, fast-moving crisis moves through the life' (Brady's Predictive Astrology); last manifested Oct 3, 2005 @ '10Libra.'

Sun AQ/Moon Pisc's 'Images for Integration: A scientist sings grand opera...A brilliant inventor takes a sabbatical on a desert island.' (Sun Sign, Moon Sign, Chas & Suzi Harvey.)

This Air-Water blend describes a thinker and poet with a universal outlook; there's independence and vulnerability, reverence, forgiveness, humor, and kindness.

This combo of energies is committed to a cause, loves people, has great psychological insights into them, is observant, sensible, friendly, and is at heart a scientist who loves weird phenomena.

Sun AQ-Moon Pisc is shared natally by: George Balanchine, England's Queen Ann, Eartha Kitt, Paul Newman, Franz Schubert, Roger Vadim, and, of all people since Galbraith has been scathing on Bush and the Iraq War - Dick Cheney.

And speaking of Cheney, his 6th house Mercury @ 25 AQ is being transited off and on (now on) by Neptune. Neptune-to-natal-Mercury (thinking; communicating) is a period with both positive and negative potentials such as: information dissemination and broadcasting, inspired imagination, higher mental planes, commercial sales, confusion, disorganization, fraud, an inability to grasp reality, and just plain old fashioned deception.


James Galbraith said...

Well... I was born at the Boston Lying-In, immortalized in song:

"Every day is Mother's Day,
At the Boston Lying-In"

I think it would have been in the evening, as Mother had planned to go to the opera that night, or so I was told.

The musical deficiency proved permanent.


Jude Cowell said...

Well, great to 'meet' you Professor Galbraith, i guess you can tell i appreciate your work very much!

Boston in the evening, hmm? Is the permanent musical deficiency yours or your mother's? ;p

Thanks for commenting and i hope my remarks concerning your personality are not offensive to you - it's quite unusal to hear from someone i blog about (blush), and i was intrigued that one of your profession was...well...friendly!