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News Link • Economy - Economics USA

James Howard Kunstler: Something Happened

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.

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