Tuesday, January 04, 2011

Jim Kunstler's predictions for 2011

SHOOT: With oil prices at $95 now, 2011 is looking to be nastier than 2010, possibly even nastier than 2008.   Here's Kunstler's prognosis.
The outstanding question from the get-go of 2011 is just this: can a political economy be kept floating along like a Winnie-the-Pooh balloon on gusts of sheer fakery? To me, the simple answer is no. 
SHOOT: Yup, I second that.

The people running things in the USA have tried everything from pervasive accounting fraud to complete opacity in trading procedures to looting the republic's future. The consensus trance of "recovery" makes itself manifest through every conduit of public utterance - cable TV news, The New York Times, the pronouncements of every last elected official - even though the Consumer Price Index omits items such as food, gasoline, and heating oil in its calibrations, while heaping on fictional "hedonic" adjustments.
     What's left of the American economy is a web of financial rackets divorced from the production of real wealth, dependent on an elaborate computerized three-card-monte edifice of swindling. Those groans and creakings you hear are the agonies of this ediface swaying under its burden of lies, while underneath it the ground of history shifts.
     A secondary outstanding question - I get it all the time - is whether the people running things know how fake this picture is, and how horrifying the view behind-the-curtain is.

Read the rest.

No comments: