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Showing posts from June 23, 2002
Remora "...the faces change back to black and white cartoon old men, obscure members of the cosmopolitan night." -- Jim Carroll, The Basketball Diaries Unfortunately, the cartoon old men and one woman LI has to talk about this morning are less obscure than they should be. The cosmopolitan night they belong to is called the Supreme Court, and they are called judges. These sad-sacks are up to their usual tricks -- allowing, on the one hand, the state to practice its most egregious tyrannies on the subaltern population of the young, the poor, and the feckless, the clipped angels among the faceless many, while on the other hand chipping away at the limitations placed, however imperfectly, on the natural malefactors of great wealth, aka entrenched corporate power. A ruling yesterday is typical of the Court's absolute decrepitude. The court ruled that schools could arbitrarily order drug tests -- in other words, have access to the bodily chemical infrastructure of
Remora Poor Business Week chose the wrong day to headline an optimistic forecast by a Morgan Stanley Investment "Strategist" Barton Biggs. As WorldCom basically takes itself off the field, here's what Briggs -- a man BW bills as usually "dour," in order to give credence to his pap - has to say : "Since its 2000 peak, the Nasdaq has fallen as much as the Dow did from 1929 to 1932, notes Biggs. And it has dropped more than Japan's Nikkei index has since its high in 1989, he adds. "The pattern of the equity markets since last summer has been classic," says Biggs, in foretelling that a double bottom is about to happen -- or has already begun. A VIGOROUS RALLY. Given all these, "we have increased our exposure to equities," says Biggs. Assuming the September lows hold, as he expects, rallies of 15% to 20% are conceivable in the broad indexes in the U.S. and Europe, predicts Biggs. In the U.S., he forecasts that over the s
Remora Reader's mirage Limited Inc was alerted to Bradford DeLong's weblog site today , when we came upon some comment about comment De Long had made about a recent William Greider article. Here are De Long's remarks about Greider: "William Greider, writing in the Nation, hopes for a depression in the United States--for this would "deflate" the "smug triumphalism of Bush's unilateralist war policy" and be "a good thing for world affairs, since Washington couldn't run roughshod over others. He believes that such a depression could be triggered by "... financial scandals" which would lead "overseas investors... to take their money home... the declining dollar... [to] fall sharply... credit... [to] become suddenly scarce, since our debtor-nation economy relies heavily on capital borrowed from abroad, and... trigger an ugly downdraft in the U.S. economy." And then "the fashionable boastfulness about Americ
In Beyond Good and Evil , Nietzsche wrote that the various schools of philosophy can be reduced, in the end, to the �blind and involuntary memoire� of certain philosophers � thus, in one of the great ironies of intellectual history, surrendering the discipline to the corruptions of vulgarity. The leveling impulse, of which Nietzsche made himself the greatest foe, insinuated itself into his method at its moment of greatest acuteness. And, after all, what is this vulgarity, this personalization of the abstract, but one of the masks of nihilism? Granting our disagreement with Nietzsche�s disingenuous equation between �the life� and �the thought�, LI thinks it has a certain pertinence, transposed to the the mystery story. A mystery, from our perspective, is nothing more than the hidden autobiography of its investigator. And this, reader, gets us to the self-infatuated self who is writing to you here. LI has a habit, at least on this site, of transforming every text we reference