The so-called “recovery” of 2009 to 2019 was an illusion provided by 10 years of the shale oil orgy combined with all that new debt (which also financed the shale oil) that will never be paid back. It manifested as a bubble in bond, stock, and derivative markets, with some additional novelties such as Bitcoin. The Covid-19 virus appeared to prick the bubble in late winter 2020, but the problems it caused only provoked greater new waves of central bank “money” to be loosed upon the scene to “prevent a depression.”
- “…This is not a depression, but a permanent contraction of the scale and complexity of things. And it might help us cultivate gratitude….The harsh truth may be that the disorders that attend contracting economies and discontinued resource supply lines will reduce populations shockingly fast”
De-Growth Will Define How We Live In The Future
This is not a depression, but a permanent contraction of the scale and complexity of things. And it might help us cultivate gratitude.
Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 5, 2018. Oil production has been causing a sudden influx of money especially for local Texans despite the consequences to the natural environment. (Photo by Benjamin Lowy/Getty Images)
You may have noticed that the nation entered a political crisis after election day. However all that turns out, and whomever occupies the…
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