All the wishful thinking in the country can’t resurrect a long-dead corpse. By the time president-elect Obama takes the oath of office, he’ll have all the power of a quadriplegic EMT without a medical kit, much less a resuscitation device. And he’ll be staring at a patient with a DNR order, courtesy of a lethal combination of inevitable geology and abysmal policy.
For those of you not paying attention to the news last week, here’s a quick summary: The United States economy nearly collapsed, taking the world economy with it. Only a quick infusion of cash by the Treasury Department prevented full-scale collapse. The problem: peak oil. The solution, such as it is: print money, sensu Weimer Republic. Ben “Helicopter” Bernanke is living up to his nickname.