Tuesday, June 30, 2009

The Great American Bubble Machine - Something You Need to Read

Matt Taibbi is a name I've heard around, but never paid a great deal of attention to. I probably should have been.
He recently penned an article for Rolling Stone called The Great American Bubble Machine, detailing the "behavior" of investment bank Goldman-Sachs that has created (or at the least helped to) the largest financial bubbles in American history, starting with the Trusts bubble that, upon bursting, lead to the Great Depression, and on through the Tech Stocks bubble, the Housing Market, and Oil Futures.
It is a brief history of manipulation and general scum-fuckery. Nothing in it should be surprising to anyone who has been paying attention, at least the history. But, this is an incredibly complex area, and I know for a fact that most people aren't paying attention (I barely do).
Taibbi's article is worth reading, to know whats gone on, and also for a critical look at what is coming.
The next major bubble is being passed along as something truly good for everyone, and it may be the biggest swindle yet.

This is long, unhappy and probably boring - Read it anyway.
The Great American Swindle by Matt Taibbi

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