MB Civic

Kuntsler …

As if life in the USA wasn’t surreal enough last week. Once upon a time, the stock market was a place where people with capital went to look for productive activity to invest in — say, a company devoted to making soap flakes, an underpants factory. Now the market is a robot combat arena where algorithms battle for supremacy of the feedback loops … We tend to forget that all this hugger-mugger once had a relation to real economies. The basic truth about real economies — at least the industrial-strength ones — is that they cannot be successfully managed on the basis of revolving debt in the context of no growth — and no growth is exactly the bottom line of the peak oil story so revolving debt is finished for now

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