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Now we will encounter the other dimensions of deflation: the contraction of manufacturing, trade, wages, and all the familiar markers of expansion in the waning techno-industrial era.
The many dodges and stratagems tried by the supreme central bankers to work around contraction only produce ever greater distortions in markets, currencies, and the distribution of dwindling capital, leading to a grand battle over the table-scraps of history, i.e.
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The aforesaid distortions in markets, currencies, and capital are spinning out in an ever broader, centrifugal gyre, coinciding, as chance would have it, with the most peculiar election in modern times. The 20th Anniversary edition With an entertaining new introduction by the author Bargain Price $3.99 Amazon Kindle …or … Kobo Support this blog by visiting Jim’s Patreon Page!
The incoherence and deceit on both sides is far beyond even the extravagant American norms of dauntless political bullshit. James Howard Kunstler is the author of many books including (non-fiction) The Geography of Nowhere, The City in Mind: Notes on the Urban Condition, Home from Nowhere, The Long Emergency, and Too Much Magic: Wishful Thinking, Technology and the Fate of the Nation.
We literally have no idea what we’re doing in this country, or what we’re actually wishing for. His novels include World Made By Hand, The Witch of Hebron, Maggie Darling — A Modern Romance, The Halloween Ball, an Embarrassment of Riches, and many others.
The financial structures of everyday life look more fragile than ever. Kunstler skewers everything from kitsch to greed, prejudice, bloodshed, and brainwashing in this wily, funny, rip-roaring, and profoundly provocative page- turner, leaving no doubt that the prescriptive yet devilishly satiric A World Made by Hand series will continue My local indie booksellers… He has published three novellas with Water Street Press: Manhattan Gothic, A Christmas Orphan, and The Flight of Mehetabel.The institutions that govern borrowing have been pretending for some time that our debts can be paid back.The untruth of this can be easily traced to the revocation of FASB (the Financial Accounting Standards Board) Rule 157 in 2009, which said that banks no longer had to report the market value of the loans on their books, but rather could make up any old number that made things appear to pencil out.Nobody in power can come to grips with the reality of our situation.We have to salvage what we can and get smaller, becoming a more modest presence here, or the planet itself is going to hit the delete button on us.For instance, Grand Vizier Paul Krugman in today’s pimping for the US to issue ever-greater debt to repair US infrastructure. Borrow tons more money to get American running gear back in order so we can return to a growth economy.