Hennessy's View

The Centre Cannot Hold

THE SECOND COMING --William Butler Yeats Turning and turning in the widening gyre The falcon cannot hear the falconer; Things fall apart; the centre cannot hold; Mere anarchy is loosed upon the world, The blood-dimmed tide is loosed, and everywhere The ceremony of innocence is drowned; The best lack all conviction, while the worst Are full of passionate intensity. Surely some revelation is at hand; Surely the Second Coming is at hand. Read more →

Obama’s Katrina

Visuals: Some of the thousands of children suffering in a humanitarian disaster at the US border on the top of the split screen. On the bottom, President Obama drinking beer and shooting pool with locals 246 miles away. Audio: President on deploying National Guard to alleviate humanitarian crisis: “I’d be happy to consider it,” but it would be “a temporary solution.” Face it: the press was going to blame George Bush for Katrina no matter what. Read more →

Peering Into the Future from the Past

Check this out: As far as the market drop and the comeback of the market, I’d just like to pass along the following information. I stand in the Ten-Year Treasury-Note pit in the Chicago Board of Trade. The name of the room I trade in is the Financial Room. We trade the commodities that represent most of our national debt. When the gov., sells debt, the buyers of that debt have to hedge somewhere. Read more →

Did You See the Crisis Coming?

Can you guess the year? * Scottish scientists cloned a sheep named Dolly * President Clinton signed a bill barring federal funds for human cloning * Bank robbers in Kevlar suits staged an epic gun battle with Los Angeles police * The English Patient wins Best Picture Oscar * Tony Blair becomes Prime Minister of England * Timothy McVeigh convicted of pure evil * Titanic bounced off the iceberg and hit the box office The year was 1997. Read more →

Don’t Look for Quick Fixes

According to a book by historians Neil Howe and William Strauss, history follows a fairly predictable pattern, rotating in cycles equal to a long human life. The book, _The Fourth Turning_, was written in 1997. Read it. If Howe and Strauss are right—and so far, they’re dead on—then we recently entered a Fourth Turning in the current saeculum which they named “millennium.” What is a Fourth Turning? The Fourth Turning is a Crisis, a decisive era of secular upheaval, when the values regime propels the replacement of the old civic order with a new one. Read more →