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Nowhere to Run, Nowhere to Hide

     The Federal Reserve answers only to God, but Ben Bernanke’s must not have known that his boss was such a prankster. All of a sudden here is the interest rate of 10-year Treasury paper rising like an angry carbuncle on Ben’s pale tuchus just when he thought he could sit back and watch the mud wrestling contest between Larry Summers and Janet Yellen.

     Poor Ben, sedulous student of the Great Depression, who didn’t notice that the country had changed from a nation of farmers and factory workers to a nation of pole dancers and waiters, now awaits his sublime moment of Hooverization. Like poor President Hoover, he gets to hang around the pilot house half a year after he runs the garbage barge of US finance aground on the shoals of wishful thinking and accounting fraud.

     Everyone who has to pay attention to the order of things in the universe — meaning those not stewed on crank or drank, or waiting on line for a SNAP card, or leafing through the tattoo catalog, or waiting for a Kim Kardashian gangbang guest shot on Duck Dynasty, or lost in the alt reality of their cell phone — is suddenly very nervous about the order of things in this little corner of the universe. Sag Harbor is starting to live up to its name and down along the Hamptons the tide has gone out to feed a Tsunami of margin calls that soon will give the phrase “under water” a whole new life in the twisted mythology of capital. The immortal Bill Gross even sent out an SOS on Twitter at the end of the week. No wonder folks have got the heebie-jeebies.

     The fear is that the central banks have finally lost control of a situation that they have only pretended to control since 2007, when the grotesque racket of mortgage re-bundling caused a psychotic break in the banking system. The prescribed therapy for that was half a decade of ZIRP and maxing out the national credit card. The ugly truth now emerging through this fog of psychosis is that the bond market probably can’t be saved, and without it all other paper markets are toast, including the stock markets and very possibly the entire fiat currency system.

     In the background, of course, is the energy melodrama. How can anybody with half a brain suppose that the late turbo-industrial economy could “recover” with oil priced at $107 a barrel? Anyway, all the “recovery” memes floating around the collective media zeitgeist are based on a handful of doctored and massaged GDP numbers universally known to be false. In short, the USA can’t run the current setup on oil over $100 a barrel and has been trying to compensate for that basic fact by lending itself money. So has virtually every other advanced economy, and now they are all in trouble so there is nowhere to run, nowhere to hide — and for us, nowhere to export our financial quandaries to.

     Japan is the most interesting corpse in the pathology lab. It shot its wad twenty years ago and has been self-cannibalizing ever since. It has no oil or gas of its own, and now it has a runaway nuclear meltdown that is getting only slightly less attention than its financial meltdown. I used to think that Japan had no choice except to go medieval. Now I wonder if there will be anything there in ten years but a depopulated archipelago of steaming radioactive kelp. They can’t possibly buy more US treasury paper and must desperately need to dump their accumulated holdings, and when they do they will start a financial chain reaction that will flense the pretense of value from all the world’s sovereign debt paper. It may already be happening.

     If you prepare for anything, prepare for a world without financial pretense. Credibility is caught in that riptide developing off the Hamptons. When the water goes out, all you will see is ugly things wriggling in the mud, and when the water comes rushing back in again, all you will see is a spectacle of drowning bankers. The only higher ground to go to will be your local community, if you have one, and even there it will be a struggle to make sense of what has happened to the world.

 

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About James Howard Kunstler

View all posts by James Howard Kunstler
James Howard Kunstler is the author of many books including (non-fiction) The Geography of Nowhere, The City in Mind: Notes on the Urban Condition, Home from Nowhere, The Long Emergency, and Too Much Magic: Wishful Thinking, Technology and the Fate of the Nation. His novels include World Made By Hand, The Witch of Hebron, Maggie Darling — A Modern Romance, The Halloween Ball, an Embarrassment of Riches, and many others. He has published three novellas with Water Street Press: Manhattan Gothic, A Christmas Orphan, and The Flight of Mehetabel.

761 Responses to “Nowhere to Run, Nowhere to Hide” Subscribe

  1. alpha mail August 25, 2013 at 6:08 pm #

    Ok, bitchez, it be time fo me to be edukatin u on some ebonics?!?!!


    The video cannot be shown at the moment. Please try again later.

  2. alpha mail August 25, 2013 at 6:09 pm #

    Later, bitchez!

  3. alpha mail August 25, 2013 at 6:13 pm #

    Let’s try this again, for all you honkies who be habin trouble unstandin ebonics:



    • anti dod August 25, 2013 at 9:10 pm #



    • Elmendorf August 26, 2013 at 4:24 am #

      Love the Airplane clip, Alpha. Barbara Billingsley speaking jive was priceless. :)

      E.

  4. Janos Skorenzy August 25, 2013 at 6:18 pm #

    I know I’ve been highly critical of Blacks in the past and sometimes my rhetoric is interpreted as being racist. I’m sorry if I’ve offended anyone. I’ve recently had a change of heart and turned a critical eye to Whites and our violent culture. I know I’ve criticized Rap in the past but Country is just as bad. Take this for example. I was this child but I’ve changed my ways. Honest. Please believe me. I’ve repented and atoned. Give me another chance. I have great respect for you Janet and I want to be your friend. We can build a new world together. What do you say?



    • Janos Skorenzy August 25, 2013 at 8:55 pm #

      Go to hell Asoka.

      • anti dod August 25, 2013 at 9:09 pm #

        Hahahaha!!!!!!!!!!!!!!!!!

        In any case, I beg you to post much when ‘entity’ clogs up this blog…knock its comments to page 2!

      • anti dod August 25, 2013 at 9:09 pm #

        WATCH..SEE WHAT MAJIC I WORK.

    • anti dod August 25, 2013 at 9:13 pm #

      How did ya sneak in w the same name as Jaons? Is the spacing a lil different?

  5. alpha mail August 25, 2013 at 6:28 pm #

    I see “janet”/asoka/”carol” is still working hard on stealing identities/ names. Clearly, Janos did not write the above. jeezus, get a life, asoka/”janet/”carol”. sick mo fo.

  6. janet August 25, 2013 at 7:33 pm #

    Janos said: “I have great respect for you Janet and I want to be your friend. We can build a new world together. What do you say?”

    ============

    There’s always room in my house for a repentant racist, Janos. Please, come on in, but take your shoes off before entering. Peace and love to you, my friend.

  7. janet August 25, 2013 at 7:45 pm #

    alpha mail said: “My name be hijacked! It don’t be me!! I be thinkin’ janet n’ carol up to day ol tricks again!”

    ==============

    Hence I say there are no times of difficulties, no times of uncertainties. Time is change, is always changing. It is just that we go on making permanent things. Against time, we are going to be defeated – and we are at fault. And when we are defeated, naturally we are angry, we are frustrated with existence itself. We lose our trust. It seems that everything is against us, and we start living in paranoia, in fear – a certain spiritual trembling enters into our being.

  8. Q. Shtik August 25, 2013 at 8:47 pm #

    Beantown, see my post of 12:39 pm where I castigated Janet for castigating ozone.

    With all this castigating going on who’ll be left to procreate?

  9. progress4what August 25, 2013 at 8:59 pm #

    Well, I see that Ja’Soker is ja’continuing the ja’mission of ja’fucking up
    Ja’mes Howard Kunstlers ja’comment ja’thread.

    Here’s a novel idea; Ja’ban Ja’soker.

    I was going to say something else, but nobody is paying any attention to this ja’shit.

    Irony ja’on:
    Thanks, Ja’Soker.
    Ja’irony off.

    • anti dod August 25, 2013 at 9:21 pm #

      Bump the entity’s comments down by posting lots!

  10. Janos Skorenzy August 25, 2013 at 8:59 pm #

    The MLK celebration rings false like a bell of brass. Blacks have done so little that is positive and have grossly abused their freedom. To hear them prate about THEIR rights is grotesque since they obviously care so little for the rights of others. They are Africans after all – why did we ever expect anymore from them? Africa has been a basket case since Whites pulled out.

    • ozone August 25, 2013 at 9:49 pm #

      This essay will solidify an understanding that members of this community already hold. Though lengthy, it’s important to read the comments section also.

      http://thearchdruidreport.blogspot.com/2013/08/the-ritual-theater-of-progress.html

      There a few here who are [quite obviously] not a part of this community, but they won’t read it anyway. Their constant distractions from the true points of preparing ourselves for contraction is deliberate and malicious. (Members of a ‘community’ have a commonality of beliefs; this is notably absent in a few posters who consistently label the rest of us as alarmists and dullards.)

      They don’t want us to internalize what Mr. Greer states with clarity and seamless logic. I reiterate; they are NOT members of this blog community, no matter how much they might protest their rights of “free speech”. Sure, they speak freely (and over-abundantly!) but that’s all. They don’t believe in what JHK sees coming and hope we’ll stop discussing it with each other just by dint of elbowing everyone out with exhausting volume (both stridency and quantity).
      As Yank-o found out to his dismay, Greer does not suffer fools, frauds or wishful thinkers, period.

      • Janos Skorenzy August 25, 2013 at 9:54 pm #

        Yes, he does not tolerate free thinkers but only card carrying Greens (Reds). Liberals are not Gentlemen. A gentleman doesn’t take advantage. You and Kdog were right about government interference so you two took that and now try to smear anyone who disagrees with you with that label. Shame.

  11. ozone August 25, 2013 at 9:53 pm #

    That post was not meant to be a “reply” to more racial meanderings.
    I’ll even apologize to the entity that would like to be a real person, known as Janos. (From the context, I think that even ‘he’ could figure this out.)
    Sorry.

    • Janos Skorenzy August 25, 2013 at 10:05 pm #

      You can’t take my personhood away from me. Prove your bogus claims first, punk. And then apologize when you fail.

      See what happens when you give Liberals a blank check? They will cash it and go on a spree of slander.

  12. ozone August 25, 2013 at 9:59 pm #

    …And so ‘he’ snaps out a quick post that absolutely proves my point.
    Wow.

  13. Janos Skorenzy August 25, 2013 at 10:02 pm #

    Doctors without Borders, an organization funded by Wall St, admit that they are relying on hearsay about the chemical weapons as they are not in the areas hit due to safety concerns.

    Looks like the Elite are lying us into another war. Remember the Maine, Gulf of Tonkin, Lusitania, 9/11, etc. Iran has promised that this wont go down like Iraq and that they will bring it to the streets of America. Fine by the Elite – it will give them the excuse to put an end once and for all to our Rights as guaranteed (not granted – they come from Above) by the Constitution.

    http://www.infowars.com/doctors-behind-syrian-chemical-weapons-claims-are-aiding-terrorists/

    Mr Zimmerman wants to study Law. I hope he does. The Law in its original intent is a beautiful thing, a reflection of God’s perfect Justice.

  14. ozone August 25, 2013 at 10:03 pm #

    Just to be clear (thread-wise). This has nothing to do with the vampires race obsessions.
    ***********************************************************************************

    This essay will solidify an understanding that members of this community already hold. Though lengthy, it’s important to read the comments section also.

    http://thearchdruidreport.blogspot.com/2013/08/the-ritual-theater-of-progress.html

    There a few here who are [quite obviously] not a part of this community, but they won’t read it anyway. Their constant distractions from the true points of preparing ourselves for contraction is deliberate and malicious. (Members of a ‘community’ have a commonality of beliefs; this is notably absent in a few posters who consistently label the rest of us as alarmists and dullards.)

    They don’t want us to internalize what Mr. Greer states with clarity and seamless logic. I reiterate; they are NOT members of this blog community, no matter how much they might protest their rights of “free speech”. Sure, they speak freely (and over-abundantly!) but that’s all. They don’t believe in what JHK sees coming and hope we’ll stop discussing it with each other just by dint of elbowing everyone out with exhausting volume (both stridency and quantity).
    As Yank-o found out to his dismay, Greer does not suffer fools, frauds or wishful thinkers, period.

    • Janos Skorenzy August 25, 2013 at 10:08 pm #

      Yes you people like to read things you already believe. (self reinforcement of conditioning). And you only like to talk to people who have the same conditioning (cult mentality).

  15. ozone August 25, 2013 at 10:04 pm #

    (And, yes, you already know where the apostrophe goes.)

  16. alpha mail August 25, 2013 at 10:22 pm #

    The enemy is…..Asoka/”janet”/”Carol”/

  17. alpha mail August 25, 2013 at 10:23 pm #

    You two need to stop clawing at each other’s eyes and recognize who the real enemy (identity stealer) is! dammit!!!!

    • Janos Skorenzy August 25, 2013 at 10:41 pm #

      He says that I am the Enemy. Anyone who disagrees with him is a government op. Very convenient, eh? The Liberal mind is inherently totalitarian. In other words, Liberals aren’t Liberals anymore.

  18. Q. Shtik August 25, 2013 at 10:29 pm #

    Empathy for a homesick snowbird

    A friend of mine was in Scottsdale, AZ the other day and saw a bumper sticker on a parked car that read: “I MISS CHICAGO.”

    So he says he broke the window, stole the radio, shot out two of the tires, added an Obama bumper sticker and left a note that read, “I HOPE THIS HELPS.”

    • alpha mail August 25, 2013 at 10:34 pm #

      You made my day, bro!

    • Janos Skorenzy August 26, 2013 at 12:11 am #

      The Sisters are praying for you. Still dipping braids in ink wells and stealing cars I guess.

  19. alpha mail August 25, 2013 at 10:35 pm #

    LOL!!

    • alpha mail August 26, 2013 at 12:47 am #

      not me ^^^^ not alpha mail….

  20. beantownbill. August 25, 2013 at 11:15 pm #

    In response to O3, yes the purpose of the CFN trolls is to obfuscate the discussion away from possible negative future scenarios. It’s mighty suspicious that Whoever feels the need for such diversion. The only rational answer I can come up with is that

    • beantownbill. August 25, 2013 at 11:45 pm #

      Sorry, I pressed the wrong key. To continue, the only rational answer I come up with is that there are some people who would lose power and/or wealth should the public believe we are making bad decisions and decide to act to try to correct that. Thus, obfuscation/diversion is employed.

      Concerning the Archdruid, he doesn’t carry much weight with me. Sorry. First, I don’t trust non-scientists when they speak about heavy- duty science. It’s not that they can’t be right, but I do tend to minimize their positions. Second, he doesn’t display a lot of imagination – he doesn’t really think outside the box. Being stuck in “the box” is what has gotten us to the troubled place in which we now find ourselves. I guess I appreciate those with vision the most.

      I have two comments about fusion. First, I don’t like it when someone says something cannot be done. To me, this smacks of too confining an intellect. In this case we are talking about economically viable fusion reactors. The length of time it takes to resolve a problem is an indicator of an esoteric solution, not necessarily an impossible

      Second, In a world of scarce energy resources, we may have to reevaluate what “economic viability” means when billions of lives are at stake.

      • beantownbill. August 25, 2013 at 11:50 pm #

        Oh, vey! I meant to say “an impossible one” in my next to last sentence. For some reason, my fingers suddenly seem to have greatly expanded in width.

      • ozone August 26, 2013 at 8:14 am #

        Beans,
        You kinda missed the side of the barn there. ;)
        I can lead you to the essay, but I can’t make you read it.
        You’ve made his point, exactly.

        Read the last couple essays and you’ll see how much outside the box (read: “conventional wisdom”) and uncannily perceptive his thinking is.

        But, anyway:
        ” Whether or not it’s possible to make a functioning fusion reactor, I pointed out, is immaterial at this point; the last half century of experiments have shown beyond a shadow of a doubt that even if the thing can be done, the cost of building fusion reactors will be so high that fusion will never be economically viable as a source of electricity for the grid.

        Before we go on, I’d like to ask everyone to reread that last sentence, and notice that this argument doesn’t claim that fusion reactors are impossible—that, in point of fact, it doesn’t deal at all with the issue of whether fusion power is technically feasible. This may seem like an obvious point, but I can assure you, dear reader, that it’s far from obvious to a good many of my readers. Over the weeks that followed, in fact, I fielded a flurry of comments chiding me for my supposed insistence that harnessing fusion power is impossible. Quite a range of different arguments were deployed in an effort to dispute this point, ranging from the plausible to the frankly silly; the one thing that none of these commenters seem to have noticed is that the claim they were imputing to me is one I hadn’t made.”

        “This sort of paralogic isn’t unique; it isn’t even unusual. Long before I started this blog, I noticed that any question at all about the economic viability of technological progress lies squarely in industrial civilization’s blind spot. Pick any technology that fits the canned image of the future projected by pop culture, and try to talk about whether we can actually afford to pursue it—in most cases, this is a far more crucial question than most people realize, so it’s rarely difficult to find points to raise—and you can count on the identical response. For a long time, I wondered why this particular issue should be subject to such remarkable distortions of thought and conversation; over the course of the last few weeks, as I reflected on the latest round of paralogic in the context of the current series of posts, I think I’ve come to understand the reasons behind it. ” -JMG

        …And he goes on to explain. This week’s missive on the fracking craze ties right in.

        Please be assured that the meaning of “economic viability” will only be interpreted by those who hold the levers of power, trade and resource extraction (those who lack empathy), not altruists. False hopes in that department are especially dangerous. (Nazi Germany is fine example,)

        • ozone August 26, 2013 at 8:24 am #

          BTW, I certainly don’t fault your views; a lot of people hold the same hopes for techno-saviors. Plus, you’re doing yourself the favor of hedging your bets. (Always a good idea when possible.)
          I guess you either agree with Greer’s (and, sort of by default, Kunstler’s) general outlook or you don’t. It doesn’t matter, for now. In future, that could be an entirely different story if one hasn’t ‘planned ahead’.

        • ozone August 26, 2013 at 8:49 am #

          After further consideration, I’d have to say that your viewpoint of, “they’ll think of something”, is what I’d consider the conventional wisdom view. I know that might seem a strange perspective, but there it is, and it’s the intimation I hear from the MSM. (Continued cheerleading for fracking as the bridging energy source is one example.)

      • ozone August 26, 2013 at 9:02 am #

        Moreover: ;) (Why not; just a bunch of ja’soka distractings afterwards, and it’s the tail end of the thread…)

        “… whether a technology makes economic sense in a world of rapidly depleting resources and spiraling economic dysfunction is a valid concern, whether or not that concern conforms to the stereotyped arguments of our time. If some future iteration of ITER finally gets a sustained fusion reaction going, that’s an intriguing bit of experimental physics, but unless that event leads to the discovery of some way to maintain such a reaction that costs a couple of orders of magnitude less than $14 billion per reactor, that’s all it is—and since every cheaper option has been tried in half a century of very well funded experimentation, it’s a safe bet that in fact, that’s all it is.

        This was already recognized in the early 1980s. I recall independent studies in the appropriate tech scene in those days, which showed that if the relatively simple tokamak reactors being tested in those days could be made to work, the result would be a power plant that would produce about as much electricity as a standard fission reactor, at roughly ten times the cost. Given that fission power is the most expensive source of electricity in common use today, and has never been economically viable anywhere on earth without massive government subsidies, this is not exactly encouraging.

        It’s thus not hard to imagine a future in which, let’s say, excited physicists announce to the world that sustained nuclear fusion has finally been accomplished, using some elaborate new reactor design ten times more expensive, adjusting for inflation, than those relatively simple tokamak reactors that failed to do the job in the early 1980s. Running the numbers, governments and utility companies calculate that, including all economies of scale, each new fusion reactor would cost a hundred times as much as a comparable fission reactor, with consumer bills to match. Has the energy crisis been solved? Not in any sense meaningful in the real world.” -JMG

    • Janos Skorenzy August 26, 2013 at 12:53 am #

      I love you Bilbo Room 101 Jews.

  21. alpha mail August 26, 2013 at 12:51 am #

    “janet”/asoka is using my name to post comments. He has done this to many posters. This is why so many good posters have left. He took Wage’s name. He’s taken others. Don’t let you be next….DEAR GOD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! (sighs, gets a breath……DEAR GODDD NOOOOOOOOOOOOOOOOOOOOOO

  22. janet August 26, 2013 at 1:30 am #

    “alpha mail”/asoka is using my name to post comments. He has done this to many posters. This is why so many good posters have left.

    Nobody knows who anyone is anymore. I think this was what Carol was promoting for CFN. Curiously Carol was absent yesterday and most of today, until all hell broke loose with the stolen identities. I think Janos and alpha mail (Asoka) are stealing my identity.

  23. janet August 26, 2013 at 1:33 am #

    beantown said: “Oh, vey! I meant to say “an impossible one” in my next to last sentence. For some reason, my fingers suddenly seem to have greatly expanded in width.”

    Someone is stealing beantown’s identity and is posting partial posts, followed by apologies for partial posts. This is maddening. Beantown would not spam CFN like that.

  24. janet August 26, 2013 at 2:13 am #

    alpha mail ? said: “The enemy is…..Asoka/”janet”/”Carol”/”

    LOL! We must have enemies, right?

    Stop stealing my identity, alpha mail. You are creating havoc on CFN.

    Who or what exactly is being distracted / subverted on CFN? There is no meaningful conversation. There is no content. There is no filter or secure identity, so everyone is accusing everyone else of stealing and no one can be certain who is posting what (ignoring that nothing of value is being posted in any event). All this shit is going to stop when the collapse of Fall 2013 happens. You will suddenly have your attention forcibly shifted to physical survival concerns. It is going to be worse than you can imagine, worse that Hollywood can imagine.

  25. janet August 26, 2013 at 2:14 am #

    Who has stolen my identity?

  26. ozone August 26, 2013 at 8:31 am #

    Ja’soka might well ask:
    Who has done their utmost to destroy the CFN community [of commenters]?

    Get a raise or a hunk of pot-metal on a ribbon for that, do you?

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