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J
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Turning and Churning

- James Howard Kunstler -

I think James' model of the collapse is slightly off. He is correct that the pandemic did not cause the collapse, the lockdown did. But what is the root cause, why were the dominoes so perfectly set for collapse? I think it was the central banks inflating the economy ever higher until the balloon popped in 2008. Then they began inflating at a new rate of several trillion a year to compensate for the giant hole in the balloon. Now the balloon has another hole, and the CB's will do the only thing they can, pump more money. Some people close to the spigot will get rich on the flow of cash, but by the time it gets to the common folks, it won't be worth much. SSDD.

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Début de l'article :It’s one thing to get sandbagged by a public health crisis – a plague being about the worst kind – and quite another for an advanced, complex economy to fall away under your feet like a freight elevator that snapped its cables. The two are now linked in the public imagination, which naturally churns out narratives to serve the collective human craving for pattern recognition. “The news” is the net sum of all that, mixed with a lot of cognitive “noise.” Even highly intelligent people have a hard... Lire la suite

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