No one can make America into childlike myth like Vonnegut can. Here he takes capitalism, labor history, Sacco-Vanzetti, McCarthyism, and Watergate, and puts them all into the slender memoirs of Walter F. Starbuck--a chauffeur's son who was mentored by the scion of a great and ruthless corporation, was sent to Harvard, but was abandoned when he was caught dabbling in the 1930s left-wing; which meant that Walter had to make his own way as a WW II soldier, Washington civil servant, unintentional stoolie in a Hiss/Chambers-type case, unemployed husband (his concentration-camp-survivor wife supported them with interior decorating), and finally Nixon's token "advisor for youth affairs" and a very minor Watergate convict. So now old Walter is getting out of minimum-security prison (where he has met Vonnegut's Kilgore Trout), without a friend in the world--his wife is dead and his son is "a very unpleasant person. . . a book reviewer for The New York Times"--and with hopes of becoming a bartender somewhere in Manhattan. All this is told in Vonnegut's customary fatless, detail-rich, musical prose (with the usual ironic asides: "And on and on," "Peace," "Strong-stuff"), and it's strangely touching, occasionally boldly funny. But as good as he is at building a haunted, hilariously compressed myth out of our shared past, Vonnegut can't keep it from collapsing into silliness when he tries to propel it into the future; Walter's post-prison adventures are so fairy-tale-ish and theme-heavy that they lose that precariously balanced aura of truer-than-true. Once in Manhattan, he meets the major people from his past in one coincidence after another, including his old flame and fellow left-winger Mary Kathleen O'Looney, who is now a N.Y. shopping-bag lady living beneath Grand Central Station--but is she really a bag lady? No! She's really "the legendary Mrs. Jack Graham," never-seen majority stockholder in the all-powerful RAMJAC Corporation. So Waiter is suddenly made a corporate bigwig, and, when Mary Kathleen secretly dies, he illegally (but well-meaningly) keeps the company going. . . and winds up a jailbird again. Rich/poor, honest/criminal, management/labor--Vonnegut is playfully exploring the ease with which an American Everyman can alternate between these ostensible extremes. But he has covered much of that ground before--principally in God Bless You, Mr. Rosewater--and he himself seems to become bored and mechanical halfway through. Not top-drawer Vonnegut, then, but guilty/innocent Walter is a fine creation, and there's enough of the author's narrative zip to keep fans happy even while the novel fizzles into foolishness.