 |
|||||||||||||||
|
 Ice
Cube 
 "It's
a tried and true way of dealing with people or nations that the
ruling elite finds troublesome or inconvenient -- whoever gets
in our way. They're simply lumped into the enemy pile. "
 "
I think art and politics are directly related to each
other, and people that deny the cross-influence are kidding
themselves."  "Carbs
are the new terrorists. Bread is the new Bin Laden.
I can't wait to order a low-carb veggie Whopper. People
are pathetic." |
by Jim Kunstler The stock markets and the oil futures markets sank in tandem last week as the global economy responded to increasing strain by wobbling. Oil dipped below $50 a barrel. Don't expect it to linger there long, as the summer driving season approaches. (Memorial Day weekend is the traditional start.) Americans will travel compulsively even in a darkening economy. They may not go to Europe right now, with coffee at five bucks a cup there, but they will keep driving around the US because the suburban wastelands where most Americans live are so unendurably depressing that their denizens will pay almost any price for gas to get away for a while -- if only to hyper-artificial destinations like Las Vegas and Disney World. In any case, virtually all American cities (or metroplexes, since the city part is now the least of them), are so designed that stupendous rates of daily motoring are unavoidable. Being allergic to most conspiracy theory, I am not sure that a Plunge Protection Team actually exists. (That is, a gang of institutional investors whom government leaders can call upon to prop up faltering stock markets.) If there is such a cabal, then I would be further skeptical as to the extent of their power to act. This week will test their supposed powers against a super-tide of nervous lumpen 401K holders who have begun to notice things such as the fact that nobody wants to buy big stupid badly-designed American cars, or that Senator Charles Schumer (D-NY) is hot to impose tariffs on Chinese textiles (i.e., every article of clothing found in the GAP, Target, WalMart), or that we suddenly have a much more punative bankruptcy law that will make credit card free-spenders think twice about flirting with insolvency. My own prediction is that the stock markets are entering a freefall. The excellent young historian Niall Ferguson has an essay in the current issue of Foreign Affairs called "Sinking Globalization" to remind the supposedly thinking class that the global economy is not a permanent insitution but a set of transient conditions that has come and gone before -- namely, the period running from about 1870 to 1914, when the First World War put an end to the Industrial Age's first great interval of stability and free trade. That "Golden Age" beat a path into a gruesome intermezzo of broken political relations, depression, and more war. Globalization did not resume until the 1970s, when two things occurred: 1.) the other combatants
of World War Two recovered some industrial traction and
Since then, the world has enjoyed another extraordinary era of stability between the major nations. Notice, I don't use the phrase "major powers." Many would argue that US military power is beyond challenge. A minority view states there enough small arms in the world so that any gang of miscreants with $50,000 worth of rocket-propelled grenades, shoulder-launched missiles, and Semtech plastic explosive can make the US Army do a hurt dance. The long term trend is for America to exhaust itself engaging with these fire-ants, and to withdraw from the ant-hills back into the safety of North America. That process is now underway, and the economic implications are rather dire. The spring of 2005 has that 1914 feel. In Iraq and the rest of the Middle East, the current hiatus has settled nothing. The various tribes and factions are still pissed off at each other and at us. America is still left with its huge oil import addiction and a suburban way-of-life that no amount of "energy conservation" can appease. The tectonic stresses of economic distortion have been building under the surface of the Wal Mart/China partnership. For those of you contemplating a vacation in Las Vegas, don't bet on the status quo. 22 April 05  James
Kunstler is the sharpshooting
author of The Geography of Nowhere, Home From Nowhere and the recently
released novel, Maggie Darling, as well as the only guy in a bowtie Morphizm
doesn't want to crush into a bloodied pulp. His doomsday predictions can
be had for free at his blog, Clusterfuck Nation, as well as here. Which
makes him cool.
|
||||||||||||||
|
Copyright Since 2001, Morphizm.com. |
|||||||||||||||
