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Deglobalization proceeds apace

Deglobalization proceeds apace
June 03, 2012, 06:14:25 PM
Utopian neoimperialist overextension and malinvestment caused this to begin with anyways:

Quote
World markets plunged to their lowest level this year as poor US jobless figures and weak manufacturing data from Europe sparked renewed fears of a global slowdown.

As traders sold off shares in favour of safer assets such as gold, the FTSE 100 in London fell 1.14% to close at 5260.19, its lowest level since 25 November last year. European markets also ended sharply lower, with Germany's Dax down nearly 3.5%, France's Cac down 2.2% and Spain's Ibex off by 0.4%. In the US, the Dow Jones industrial average had fallen more than 220 points - or 1.8% - by the time London closed. After overnight falls in Asia following signs of a slowdown in China, the MSCI world index hit its lowest level since December.

http://www.guardian.co.uk/business/2012/jun/01/world-markets-global-crisis-deepens

Re: Deglobalization proceeds apace
June 03, 2012, 10:40:26 PM
+1  ^ Like

Re: Deglobalization proceeds apace
June 05, 2012, 04:35:18 AM
“Now we get to the really fun part of the global unwind where even money flowing into supposedly safe havens turns, presto change-o, into an evaporation of wealth, and all of the lawyer-lobbyists who ever double-parked on K Street in the sorry history of this frantic era will not avail to contain the demons of their own design.

The world is waiting to re-learn an old lesson: that untruth and reality exist in an adversarial relationship. Sad to say, there isn’t enough legal infrastructure in the world, nor enough time, to pass judgment on all the lies and misrepresentations that burden the current edition of what passes for civilization. This goes especially for money matters, where currencies, certificates, and contracts actually have to represent what they purport to stand for. When those relationships fail, as they have been doing for some years now, everything falls apart.”

http://kunstler.com/blog/2012/06/welcome-to-the-wormhole.html

Re: Deglobalization proceeds apace
June 05, 2012, 05:54:07 AM
Typical. After a lifetime of utter poverty I get to be rich. Just in time for my riches to become worthless.
At least I've had plenty of practice being poor. I may be well-armed for whatever lies ahead, after all.


Re: Deglobalization proceeds apace
July 20, 2012, 04:10:11 AM
It should not be surprising to find that there is a close tie between GDP growth and oil supply growth. Oil is used in many ways, from the manufacture of goods (synthetic cloth, pharmaceuticals, chemicals, asphalt for roads), to transport of goods and people, to food production (plowing, harvesting, weed killers, diesel irrigation), to operating construction equipment, to mining. While it is possible to substitute away from oil in some situations, or to find more efficient ways of using the oil, we have literally trillions of dollars of machinery in the world that uses oil right now. Because of this, the rate of substitution away from oil is necessarily very slow.

http://www.theoildrum.com/node/9343

So we are in a quiet race against the clock to get all the oil using machinery down to the bare essentials like tanks and fighter jets, heavy digging, mining and hauling rigs. All the rest will eventually transition to rechargeable solar or some other renewable that doesn't need to be massive and powerful. There is a lot of earthy grass roots entrepreneurship in green farming that gets away from industrial chemicals as well. If everyone can get on the same page and the progressives quit with the social programs dead end the future may end up:

  • much less international trade as too expensive, unnecessary to regularly haul bulk cargo rapidly
  • more local self-sustainability like Arcosanti and Resilient Community
  • less extreme disparity in national GDPs
  • limited or no migration as most subsist anyway
  • spartan but still high techy like inhabiting Tatooine, Yavin or Endor, unlike uber abundance Star Trek