So, uh, “the market”… eh? So much for that.
Never mind all this ‘rebound’ shit. They must be aiming these lies at people with fetal alcohol syndrome or something.
We’re near the end of the first round of thermodynamic contractions in the global system. The important thing to remember is that this is all fundamentally being driven by energy. There have been ‘bubbles’ before, since at least the early eighties, so suggesting that some poor wretched fool who took a sub-prime mortgage he couldn’t afford is what collapsed the global economy is just asinine. It’s worse than asinine, it’s insulting.
It’s really about derivatives, which is just another way of saying ‘side bets’. You’re gambling on gambling upon gambling to the nth power, and from what can be discerned from the outside, mostly losing in the process. Why take the risk? because it’s the only way to mask that your underlying physical economy is declining, and your energy supply has peaked. And when I say ‘mask’ I mean to oneself, and to others. The banksters are just as clueless about the energy situation, by and large, as anyone. That’s manifestly clear by now. What they see is that profits need to rise, and that they had to work harder and harder to keep making that happen. WHY probably never occurred to them. So a hallucinated bubble of speculative paper is the last resort. If you can’t create real wealth, you have to pretend that you are, and everyone else has to pretend, too.
We’ve reached the point where economic collapse is curbing demand for energy enough that we are outracing the decline curve. Over time this will create the illusion of an ongoing series of relapsing depressions, as we slide farther down the depletion cliff, stabilize at some lower level of demand, and then fall back into chaos as the cliff drops away from us again. So this is not going to be the last time we see this shit. Obama might get lucky and catch a break in his first term. Anyone who thinks that the republican party will even exist in a year or two needs to quit huffing paint.
I sincerely hope you took my advice from a few months back and triaged yourself ahead of time. You now have room to think about where to go from here.
By far the best big-frame thinking on these issues is going on at global guerillas. Forget all the half baked doomers with freeze dried pizza and shotguns; John Robb is so far ahead of the curve on this he should probably be in B-Rock’s cabinet. Hell, he should be the vice president. The only ways through this that I can discern are either what he proposes, or a Larouche style New Deal For The Planet. The latter is probably more desirable on the whole, but the former fits more with what I’ve forecast. Your millage may vary.
You probably have a few months to a couple years before you might have to kill marauding cannibals with a wrecking bar, ( FYI it’s most efficient to be hitting someone in the brain stem, collarbone or the temple. Break the thicker bones in the arms if they get in the way. ) so use them well. I’ll hang in there with ya as long as I can.