James Howard Kunstler
Tuesday, May 18, the year of the tiger
Everybody in the world is broke, except for maybe Lloyd Blankfein, and he may not end up broke so much as broken — by a political meat-grinder that is revving up to turn the world’s woes and swindles into a new kind of Long Emergency sausage, to be distributed among the roiling, angry masses as a synthetic substitute for nutriment. Call it a synthetic non-collateralized political obligation.
Something snapped in the world last week and a lot of people around the world sensed it — especially in the organs of news and opinion — but this ominous twang was not very clearly identified. It was, in fact, the sound of the financial becoming political. The macro-swindle of a worldwide Ponzi orgy now stands revealed and the vacuum left in its place is about to suck everything familiar into it — standards-of-living, hopes, dreams, not to mention lives. The political action will be a desperate scramble to determine who and what is able to escape getting sucked into this black hole of annihilation. It’s very suddenly shaping up to become an epic in human history.
Meanwhile, a giant oil blob lies quivering in deep waters off the Gulf coast, like some awful amorphous Moby Dick full of malice waiting to sink Pequod America — or at least the economies of five states. A few months from now, the BP corporation will wonder why it didn’t go into something safe and predictable like the pants business instead of oil exploration. They will surely question the viability of conducting future business anywhere near the USA, and the USA will enter a wilderness of soul-searching about the drill-baby-drill strategy that only a few scant weeks ago seemed to be a settled matter. Tough to have your future hoped-for energy supplies evaporate at the same time that your hopes for future prosperity get sucked into a black hole.
I’ve maintained for a long time that the folks down Dixie way are the the most dangerously crazy people in America and the Deepwater Horizon oil blob is not going to improve their outlook when it slops over their beaches and bayous. They’ll blame Obama for it by syllogism. Anyway, they are only marginally more crazy than the rest of the folks in the USA. Those folks are warming up for an election season that is going to send a horde of exterminating angels into the halls of congress and the governor’s mansions, and before too long those merchants of retribution are going to appoint their inquisitors. It’s going to be a heckuva spectacle.
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