My Daughter

My Daughter
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Tuesday, March 08, 2005

Juncture Recognition

To me, it seems quite obvious that we have reached an important juncture in the course of human history, whether it be the coming economic crisis or the energy production crunch. Yet, all around me I see nothing but people with their heads in the sand, seemingly completely oblivious to the signs of the times. Without an extraordinary event, our civilization is headed down the well-trodden path of decline. The same path trod by the Roman and the British empires along with the same arrogance and hubris, assertions of global hegemony, and imperial overstretch. By the end of the Roman Empire, citizens were loathe to join the legions and defend their country—the wars were fought with slaves. With a US desertion approaching 7,000 soldiers, and a recruitment shortfall of 27%, we are definitely at overstretch, with a whole of loathing going on. Yet, GW says invading Iran is “still on the table.”

Private savings in the United States make up a meager 0.2% of disposable income. In the EU, citizens lay by more than 10% of their income. The low level of private savings in the United States is most easily accounted for by the escalating prices in real estate. They look upon their equity increases as a substitute for savings. So, when they need a little “cash” to meet obligations—as real income is not rising—they go to the refi-ATM for that cash. One out of every three home purchases are by speculators to flip (sometimes even before they are built) or as a second or vacation home. How can people delude themselves twice in just five years? Did they learn nothing from the tech-stock fiasco? Where are the fundamentals? Oh yeah, I forgot, it‘s different his time.

Some might argue that while foreigners are happy to finance the US deficit by recycling their corresponding surpluses into dollar assets that somehow the situation is sustainable. But that argument ignores the huge transfer of wealth outside of the US that accompanies persistent large trade deficits. Remember, we have no way of redeeming that debt if it ever comes home to roost—no gold standard since 1971. Unlike stocks and housing, the dollar has no bottom, only inflation. Warren Buffet, Bill Gates, and George Soros are all shorting the dollar. Guess they don’t know what they are doing, huh?

Our industrial complex has caused us to become so specialized, that when you strip away what most people know about TV, sports, entertainment, and technology, you are left with a medieval understanding of the world. We have been reduced to lemmings. That just won’t cut it in the post-peak oil world.

5 comments:

sheila said...

The government DOES 'get it', it's known for a long time oil was about to go into

terminal decline, it's the rest of the fucked up 'believers' who don't 'get it'.

Why do you thing 9/11 happened, you don't think some poor fundi in Saudi arabia did it

without our help do you?
Do you really believe the 'war on terror' has anything to do with terror?
Of course not, it's a criminal act by a rogue country to seize the last of the worlds

OIL.

You want to see our future?
Don't look to Cuba, their getting oil from Venezuela, instead, take a look at North

Korea.

Look at a satellite view of the world at night and look for North Korea, it's that dark

area just north of South Korea.

THAT'S where we're headed,endless hunger in the cold dark void.

When the shit really starts hitting the fan, it will be 'Mad Max' in the cities, in the

country it will be armed vigilaties to keep out the city folks.

The government has plans for us and it's not 'nice',not nice at all!

sheila said...

The government DOES 'get it', it's known for a long time oil was about to go into

terminal decline, it's the rest of the fucked up 'believers' who don't 'get it'.

Why do you thing 9/11 happened, you don't think some poor fundi in Saudi arabia did it

without our help do you?
Do you really believe the 'war on terror' has anything to do with terror?
Of course not, it's a criminal act by a rogue country to seize the last of the worlds

OIL.

You want to see our future?
Don't look to Cuba, their getting oil from Venezuela, instead, take a look at North

Korea.

Look at a satellite view of the world at night and look for North Korea, it's that dark

area just north of South Korea.

THAT'S where we're headed,endless hunger in the cold dark void.

When the shit really starts hitting the fan, it will be 'Mad Max' in the cities, in the

country it will be armed vigilaties to keep out the city folks.

The government has plans for us and it's not 'nice',not nice at all!

sheila said...

The government DOES 'get it', it's known for a long time oil was about to go into

terminal decline, it's the rest of the fucked up 'believers' who don't 'get it'.

Why do you thing 9/11 happened, you don't think some poor fundi in Saudi arabia did it

without our help do you?
Do you really believe the 'war on terror' has anything to do with terror?
Of course not, it's a criminal act by a rogue country to seize the last of the worlds

OIL.

You want to see our future?
Don't look to Cuba, their getting oil from Venezuela, instead, take a look at North

Korea.

Look at a satellite view of the world at night and look for North Korea, it's that dark

area just north of South Korea.

THAT'S where we're headed,endless hunger in the cold dark void.

When the shit really starts hitting the fan, it will be 'Mad Max' in the cities, in the

country it will be armed vigilaties to keep out the city folks.

The government has plans for us and it's not 'nice',not nice at all!

sheila said...

The government DOES 'get it', it's known for a long time oil was about to go into

terminal decline, it's the rest of the fucked up 'believers' who don't 'get it'.

Why do you thing 9/11 happened, you don't think some poor fundi in Saudi arabia did it

without our help do you?
Do you really believe the 'war on terror' has anything to do with terror?
Of course not, it's a criminal act by a rogue country to seize the last of the worlds

OIL.

You want to see our future?
Don't look to Cuba, their getting oil from Venezuela, instead, take a look at North

Korea.

Look at a satellite view of the world at night and look for North Korea, it's that dark

area just north of South Korea.

THAT'S where we're headed,endless hunger in the cold dark void.

When the shit really starts hitting the fan, it will be 'Mad Max' in the cities, in the

country it will be armed vigilaties to keep out the city folks.

The government has plans for us and it's not 'nice',not nice at all!

Newsjunky said...

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