Dating the timeline of financial bubbles during the subprime crisis
It was hard to see this with seemingly plenty of oil available.And, of course, the computer tech fiesta was blossoming, but for all that glitzy stuff to attract dwindling real capital, other old stuff had to go, and did go, and when all was said and done the computers did not generate much wealth or social value.The oil industry itself is already headed for collapse on its sinking energy-return-on-investment.And our problems with money and debt are so severe that the motoring paradigm is more prone to fail on the basis of car loan scarcity and unworthy borrowers before the fueling issues even kick in.The current narrative weaves an expectation that manufacturing industry will return to the USA complete with all the 1962-vintage societal benefits of great-paying blue collar jobs, plus an orgy of infrastructure-building.I think both ideas are flawed, even allowing for good intentions.Well, that also assumes that we expect another fifty years of Happy Motoring and suburban living. We’re in the twilight of motoring anyway you cut it, despite all the chatter about electric cars and “driverless” cars.We won’t have the electric capacity to switch over the Happy Motoring fleet from gasoline.
So, it’s not like we’re going to reactivate some mothballed sleeping giant of productive capacity.
The bottom line is that President Donald Trump will be overwhelmed by a sea of financial troubles from the very get-go, and here’s why.
Designated Bag-Holder The American people have been punked by their own government and their central bank, the Federal Reserve, for years and the jig is now up.
But we blew that off, too, and shortly it will be very difficult to get around this geographically large country by any mechanical means.
It may be too late now to do anything about that for the financing reasons already touched on — and which I will elaborate on next.