Skidding Toward Fall (Kunstler)

[CanonRay]

This economy has a destination for sure, but it's not in the direction where all eyes are trained in moist hopefulness: that glimmering horizon of longed-for growth. You will not get that kind of growth -- the kind that increases the overall wealth of the organism in question. A few people will make more money than they did before, but overall we are in an epic contraction. More people and organizations will go broke than will thrive. It will seem very unfair.
The true destination of the US economy is to get smaller and for two reasons mainly: 1.) Capital ("money") is vanishing out of our system steadily and rapidly due to a massive collective failure to repay money owed on loans, mortgages, debts, and assorted obligations. 2.) Access to the primary resource we depend on for powering the economy (oil) is increasingly beyond our control -- even worse, under the control of people who would like us to eat shit and die.

Link: http://kunstler.com/blog/2010/08/skidding-toward-fall.html

[SpiralHawk]

1. Yikes

1.) Capital ("money") is vanishing out of our system steadily and rapidly due to a massive collective failure to repay money owed on loans, mortgages, debts, and assorted obligations.

[AspenRose]

2. I bookmarked his blog. Interesting reading

I do have the feeling things will get worse before they get better. That's just an opinion though.

[DJ13]

3. or we can continue to chase after the phantom of growth and allow the nation to fall into a shambles

Growth, real growth with increasing employment and better wages, is the only way out of this economic crisis.

He's preaching a defeatist message, one that is meant to secure the status quo, and I reject that nonsense.

[Jim Sagle]

5. Baloney.

[CanonRay]

6. Kunstler is anything but supporting the status quo

he says the status quo is killing us.

[femrap]

4. No one can

display reality in more depressing terms than this dude.