U.S. economy locked in spiral of death

The U.S. economy is moving in ever-tighter, ever-accelerating spirals. This, mind you, despite ongoing attempts to prop up the economy in the name of staving off a recession by Ben Bernanke and the ghouls at the Fed, Hank Paulson and his gangsters at Treasury Department, and Dubya and his cabal of criminals.

The result, of course, will be the Greatest Depression.
If the absence of appropriate corrections in a satellite’s trajectory, the death spiral is guaranteed.
The lamestream media are focused, as usual, on whether Barack is black. Or, rather, black enough. Or maybe it’s white enough. And when the media do show up to discuss the economy, they discuss a downturn, rather than the far more appropriate term, the downturn. And they fail to link the inextricably interconnected housing debacle and peak oil.
Cheap oil allowed us to build the suburbs and treat our houses as ATMs. Thus, cheap oil allowed the fiesta of economic growth and the packaging of bank loans into increasingly complex bundles of surreality. When reality bitch-slaps the banks, it’s really peak oil doing the slapping. When banks fail, or are baled out by … well, you and me … the failures are induced by peak oil and the “baling out” is a tax on you and me. But it’s not the only one.
The giant sucking sound, to quote Ross “I’m all ears” Perot, is the federal government simultaneously implementing policies that create hyperinflation and also telling the sheeple there is no threat of inflation. Will the Fed cut the prime rate to zero, as Japan did a couple decades ago? Do TPTB really worship the Weimer Republic?
The news is damned scary, and it gets scarier every day. Seems we have much more to fear than fear itself. There’s utter chaos, for starters. I’m an optimist, and the existence of Buddhist monks indicates we could power down with the tranquility of Buddhist monks. Nonetheless, the paucity of Buddhist monks, especially in this particular empire, suggests the difficulty of the challenges ahead.
When will disruptions in the supply of gasoline spread throughout the country? Only six states were affected last summer — is this the summer of more widespread discontent, or will the depression in which we’re falling stave off the disruptions until next year? I suspect Americans will pay damned near any cost for gasoline, and will complain about any price in excess of a buck a gallon, but if you think this nation of consumers will not employ violence when the tanks run dry, you’ve been hanging out with a lot of Buddhist monks. Ditto for bank failures. I’m pretty worried about the failure of my own bank, which will leave me with a half-finished mud hut and a handful of fruit trees.
The path our society has chosen clearly is the wrong one, and it’s far too late to turn back now. If Nietzsche was right, it was too late when we crawled from the primordial ooze. Seems we’re all too human, after all.
Times like this, I wish I didn’t know what I know. It’s overwhelming, and overwhelmingly sad. I know there are better days ahead (Nietzsche again: what doesn’t kill us makes us stronger). The road from here to there is all uphill. Through the snow and bitter cold.
Just like when I was a kid, going to school: so cold my mom made me wear a bag on my head. Wait a minute … was that really because of the weather?

Comments 6

  • Guy,
    Thanks for the blog, and for being so open about your personal feelings and plans. I feel admiration and concern for you and your partner, and I too sometimes feel overwhelmed and overwhelmingly sad.
    I don’t have anything much to say about this post: I’m mostly leting you know that you have at least two readers in Australia.
    From what I can tell from here, the American media attribute the credit crisis to imprudent lending and borrowing, and the high price of oil to speculation. I have heard Senator Obama (whom I like) say that if it costs you fifty dollars to fill up your tank, that’s because of the war in Iraq.

  • Thank you for your courage. I want to learn more; can you recommend source readings?
    Best wishes,

  • Hi Guy
    Another Antipodean reader here who’s scared about the fallout not only in America but here in New Zealand. After all who is going to be interested in sending oil to these shaky isles at the bottom of the world?
    We basically won’t be able to ship or fly our agricultural goods anywhere with no oil in the tanks.
    The tragic thing is that none of our leaders discuss this and peak oilers feel as though are stuck behind twelve inch glass shouting out the warnings that no one will here.
    Great You Tube video.

  • I agree, we have a long way more to go down before recovering… credit processing has a bit more information on credit too.

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