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- James Howard Kunstler -

Thanks for another great article!! With regard to the fast and furious unraveling of untenable complexity:

While many commentators revisit the dot.com crash and the mortgage crash, few seem to remember or want to revisit Black Monday.
On Black Monday October 19, 1987, the S&P 500 fell 20.5% in ONE DAY, and the Dow Jones Industrial Average fell 22.6 %. Program computer trading (due to portfolio insurance hedges) is usually given as the culprit, but excessive speculation played a part. The market did not immediately recover as in more recent "flash crashes". As for those traders who were excessively long the stock market derivatives on that day , some sat on the floor of the exchanges and watched their entire net worth go up in smoke. The markets were limit down and closed for days, making it impossible for them to close out their positions. While structural changes have prevented this particular form of meltdown, recent history shows that there are many and varied ways to implode. October 1929 , 1987, and 2008. I'm not looking forward to October 2015.

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Beginning of the headline :W hile the folks clogging the US tattoo parlors may not have noticed, things are beginning to look a little World War one-ish out there. Except the current blossoming world conflict is being fought not with massed troops and tanks but with interest rates and repayment schedules. Germany now dawdles in reply to the gauntlet slammed down Sunday in the Greek referendum (hell) “no” vote. Germany’s immediate strategy, it appears, is to apply some good old fashioned Teutonic todesfurcht — let the Gree... Read More

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