We present a detailed Chandra, XMM-Newton, Very Large Array (VLA) and Hubble Space Telescope analysis of one of the strongest cool core clusters known, RX J1532.9+3021 (z = 0.3613). Using new, deep 90 ks Chandra observations, we confirm the presence of a western X-ray cavity or bubble, and report on a newly discovered eastern X-ray cavity. Based on the distribution of the optical filaments, as well as a jet-like structure seen in the 325 MHz VLA radio map, we suggest that the cluster harbors older outflows along the north to south direction. The jet of the central AGN is therefore either precessing or sloshing-induced motions have caused the outflows to change directions. We confirm that the central AGN is highly sub-Eddington and conclude that a > 10 super(10) M sub(middot in circle) or a rapidly spinning black hole is favored to explain both the radiative-inefficiency of the AGN and the powerful X-ray cavities.