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09-Aug-2019 10:42

Wall Street and big business believe that the country has passed through a magic portal into a new age of heroic businessmen-warriors (Trump, Rex T, Mnuchin, Wilbur Ross, et.al.) who will go forth creating untold wealth from super-savvy deal-making that un-does all the self-defeating malarkey of the detested Deep State technocratic regulation regime of recent years.About That “Big Fat Ugly Bubble” and its Consequences Part 1: History Lesson The USA ran out of growth capacity around the turn of the millennium because we ran out of energy to run our techno-industrial economy.It was hard to see this with seemingly plenty of oil available.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.

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’ll actually be lucky if we can make a few vital necessities by means of hydro-electric or direct water power, and that will be about the extent of it.Some of you may recognize this as the World Made By Hand scenario. Similarly for “infrastructure” spending touted by the forces of Trump as the coming panacea for economic malaise.We have not faced the fact that the manufacturing fiesta based on fossil fuels was a one-time thing due to special historical circumstances and will not be repeated.

The future of manufacturing in America is frighteningly modest.

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