James K. Galbraith is an economist at the University of Texas. His latest book is: "The Predator State."

"Seventy-five years later the gap between official wisdom and ordinary observation remains as wide as ever..

The method of bubble-detection has an important virtue: much of the time it actually works..

In the present crisis, the vapor trails of fraud and corruption are everywhere."

to read James Galbraith's 7-page article "Some economists got it right" and the 246-page Twill: The Impossible Magazine," click on

http://www.twill.info/issues/twill-14/index.html