Globalization’s Terminal Phase…(Must Read!)
BY D SHERMAN OKST
The timing could be worse. Our collective economic immune system is shot, thanks to our insane 130 plus trillion dollars worth of debt, and the ever diminishing purchasing power of “our” dollar.
None of our audacious geniuses, the ones who still consider themselves to be economists—even after missing both the dot Com Bubble and Housing Bubble—have picked up on this. They miss the really big stuff, the economic obvious, because of “Economic Scholarly Capture” (link) and “Mainstream Media Economic Capture” (link). Both are like a pair of human blinders. These captures have caused them to fall prey to the false economic belief that high prices and inflation are one in the same.
High prices are three things and three things only:
A symptom of a devalued currency.
A symptom of high oil prices. Oil is the DNA of everything. As Puplava points out in his “Petro Cycle” article: ‘Ninety percent of our transportation fleet is powered by it, 95% of our food products rely on it. Oil is used in everything from Deodorant, pantyhose, pillows, hair coloring’… I’d add to that: Not counting transportation it takes 10 calories of oil to yield 1 calorie of food.
A symptom of increased demand and inadequate supply, of which we have too much demand for oil and too little supply of it. Oil being an integral part of all goods and services seriously skews Supply & Demand’s Price Equilibrium.
Băstərd Economic Architecture:
Nothing is more destructive than băstərd architecture. Take the Fukushima Nuclear Power Plant’s Mark I reactor with its pathetically inadequately designed containment system erected it upon a foundation of 14 major fault lines.