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ranbotrader
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Forecast 2017: The Wheels Finally Come Off

- James Howard Kunstler -

I only got a part down on this War and Peace article. What I have read so far seems pretty plausible.
I do (so far) disagree with WHY America is in trouble. It has nothing to do with the cost of energy. If so America would now be turning the corner....which it is not.
The reason America is hitting the wall is:

1. it has relaxed import duties and now expects its labour force to compete with the third world. That is a no brainer and a total nonsense. It can't compete with a $10 a day labour cost unless it takes its poor out of the ghettos and gives them tents.
2. it has sent its manufacturing to the third world and now needs to PAY for imports, something the country never did before. Exports offset imports....credits/debits!
3. robotics will hit working people hard in the west. Jobs will disappear and the filthy rich will have to share some of their wealth around so that the other 90% has 'money' to spend. I can't see the 1% who own 90% of everything rolling over on that one as this cohort have the mindset it's all theirs.
4. lack of proper government - you'd think with all the benefits of having the world reserve currency as well as large pension funds distorting markets in America's favour and plundering prize assets from abroad that America would be riding high on the hog. Waste and misuse of public and private money alike is rampant though and the huge bureaucracies which have come into being are a cancer in the American, and indeed western, society. The well to do complain about things like Obamacare (designed to give poor people medical care rather than let them die in the streets) but the real issue is government waste, the continued plundering of the tax system by the wealthy and now the shifting of profits to non taxing regimes like the Bahamas.
Many western countries face a not too dissimilar future with their governments doing everything possible to maintain the status quo until the dodgy financial system implodes. God help us when this happens. Won't be pretty and will make the great crash almost 100 years ago look like a picnic.
I look forward to getting through the rest of the article in the following week. Whilst I give you a bit of stick occasionally James I enjoy and agree with much of your comment.
We live in interesting times at the crossroads of a huge upheaval and change coming to life as we know it.

Commented 2816 days ago

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Beginning of the headline :Apart from all the ill-feeling about the election, one constant ‘out there’ since November 8 is the Ayn Randian rapture that infects the money scene. Wall Street and big business believe that the country has passed through a magic portal into a new age of heroic businessmen-warriors (Trump, Rex T, Mnuchin, Wilbur Ross, et. al.) who will go forth creating untold wealth from super-savvy deal-making that un-does all the self-defeating malarkey of the detested Deep State technocratic regulation regime of recent years... Read More

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