I agree with some of what Mr. Kunstler wrote.
IMHO, we, the American people, have been a little to big for our britches for awhile. It is past time for us to be:
- yanked up short
- spanked but good for believing the lie that prosperity is exponential, ever growing and never ending
- given a major timeout to consider our folly and foolishness.
Get out of the way. The house of cards oh so carefully built by the geniuses on Wall Street and in the hedge funds is about to collapse big time.
IMHO, YMMV, flame away.
“Get out of the way. The house of cards oh so carefully built by the geniuses on Wall Street and in the hedge funds is about to collapse big time”
Kunstler and his ilk predict essentially the same cycle of events year after year after year. Eventually something sorta-kinda happens that sorta-kinda parallels what they’d been predicting (generally something cyclical that finally comes due, like a recession) and they become semi-demi-gods among people who see the world as they do.
This same guy was assuring a recession in 2007, and even claimed we’d find last year that we lost a full percentage point of GDP in 2006. His stock predictions? Same old same old.
His Wiki entry is telling:
“Kunstler, who majored in Theater at college and has no formal training in the fields in which he prognosticates, made similar predictions for Y2K as he makes for peak oil.[5][6] Kunstler responds to this criticism by saying that a Y2K catastrophe was averted by the hundreds of billions of dollars that were spent fixing the problem, a lot of it “in secret,” he claims.[7]”