Wall Street, in recent times

Wall Street, in recent times, has become, as a learned phrase has it, very "public relations conscious." Since a speculative collapse can only follow a speculative boom, one might expect that Wall Street would lay a heavy hand on any resurgence of speculation. The Federal Reserve would be asked by bankers and brokers to lift margins to the limit; it would be warned to enforce the requirement sternly against those who might try to borrow on their own stocks and bonds in order to buy more of them. The public would be warned sharply and often of the risks inherent in buying stocks for the rise. Those who persisted, nonetheless, would have no one to blame but themselves. The position of the Stock Exchange, its members, the banks, and the financial community in general would be perfectly clear and as well protected in the event of a further collapse as sound public relations allow.

As noted, all this might logically be expected. However, it did not happen in the go-go years of the late sixties and immediately after -- the years of the performance funds and the conglomerate explosion -- nor will it come to pass. This is not because the instinct for self-preservation in Wall Street is poorly developed. On the contrary, it is probably normal and may be above. But now, as throughout history, financial capacity and political perspicacity are inversely correlated. Long-run salvation by men of business has never been highly regarded if it means disturbance of orderly life and convenience in the present. So inaction will be advocated in the present even though it means deep trouble in the future. Here, at least equally with communism, lies the threat to capitalism. It is what causes men who know that things are going quite wrong to say that things are fundamentally sound.

John Kenneth Galbraith, The Great Crash, (book 1954, new intro 1997)

All too often education

All too often education actually acts as a form of aversion therapy, that what we're really teaching our children is to associate learning with work and to associate work with drudgery so that the remainder of their lives they will possibly never go near a book because they associate books with learning, learning with work and work with drudgery. Whereas after a hard day's toil, instead of relaxing with a book they'll be much more likely to sit down in front of an undemanding soap opera because this is obviously teaching them nothing, so it is not learning, so it is not work, it is not drudgery, so it must be pleasure. And I think that that is the kind of circuitry that we tend to have imprinted on us because of the education process.

Alan Moore, interview in Salon, 2009

It's been a long time, we shouldn't have left you / without a dope beat to step to

Big shout-out to pjjH for helping me sort out the DNS forwarding to get this blog running again...question is...is the audient still out there for it? Well, no matter, i will resume posting stuff here from time to time even as the days of reading physical books recede.