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July 14, 2008

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Our national discourse encompassing varying degrees of stupid, it's easy to overlook that the crisis we're in was clearly forseen a few years ago not merely by Talton but some others too negative to show up on cable TV:

http://www.washingtonmonthly.com/features/2004/0404.wallace-wells.html

Jim Kunstler, the apocalyptician, has been pounding this story for several years. Maybe his rhetoric is too eagerly dire, but this time he may be closer to right than embarrassment:

http://jameshowardkunstler.typepad.com/

In the meantime, the dim bulbs at the Republic debate whether the airlines deserve the abuse they're getting. The children are becoming unruly.

It seems like only yesterday a nation turned its lonely eyes to Chandra Levy. Later, when the flag-waving grew tedious, we wondered why Iraq was an ever-receding mirage of victory. Now, with the empire's principle industry in collapse, we might wonder how we'll ever pay for that glorious folly.

Red-hot commentary, Mr. Talton. Exemplary.

But is anyone listening, or are you merely a voice crying in the wilderness? Let's hope that, metaphorically speaking (as in the original Hebrew text -- unlike the Septuagint, the Vulgate and the King James to follow, all of which botched the translation), your voice instructs some unnamed prophet to clear a highway *through* the wilderness. And I don't mean the Beeline.

no surprise. I also wrote about this:-) http://blog.stealthmode.com/2008/07/have-you-bought.html
What is it they say about great minds?

From an economic point of view, the problem in the USA is just as much about Europe finally getting together and concentrating on productivity and a global currency and sorting out their internal squabbles. The Euro is now more stable than the US dollar by far, and we might as well go ahead and call it the new world reserve currency.

Add to that, the rise of China, India, Singapore, S Korea, etc, and suddenly the USA has all this extra competition for resources, who all want oil and gas. This is the free market doing what it is supposed to be doing and transferring the wealth to those who work hard, and who provide productive economic conditions. The global free market works because there is no global government to take inefficient enterprise under their wing in return for campaign donations. The US free market fails because the corporates just walk over to Washington and get handed whatever they ask for.

As for the remaining oil in the USA, as the oil price keeps going up and the US dollar keeps going down, any logical person would keep that oil in the ground as long as possible. It will certainly be more valuable next year.

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