The best glue for building cabinets (IMHO)

I learned about this glue working at a speaker factory where they build the speaker cabinets by hand:

If you don't love it after you try it, I'll be surprised. It's nice and thick and doesn't drip much, dries fast - gives you just enough time to adjust your boards and clamp without having to hurry, but doesn't stay wet and slippery for so long like the yellow wood glues. It's just thick enough you can fill small gaps and it won't drip out. For anything more than a small gap I would mix in some fine sawdust and make a paste.