I could dwell on the continued weakness in the equity markets, but why bother? It's rough on the Masters of the Universe when their cheap credit is choked off and all their pricing models are starting to prove not worthless - but actually detrimental to understanding the grim picture.
I could dwell on the banking collapse and solvency crises in Ukraine, Hungary, Iceland, Pakistan, et al and talk about how that instability could magnify the problems here in the U.S., but again, why bother? The countries on the periphery are going to collapse. Period. They won't go away. In some cases they may even weather the storm better than the U.S., but as major players on global economic action and as a destination for investment capital - they are off the map for the next few years. And if you are an American living in one of those places, get ready to be scapegoated. I hope you have an exit route scoped out.
We could talk about how the collapsing price of oil is going to devastate the huge buildout in capacity that has been planned. All that off-shore oil, all that stranded gas, all that technology to revive old oil fields - the money to fund it has dried up and blown away like a fart in the wind. You have lived to see world Peak Oil. Never again will the world produce as much as it did in the last year. Oil production will revive after this coming collapse, but by then the decline curve will be so steep that all the investment in the world won't reverse it. Welcome to Peak Oil and it arrived at $60/barrel. But why talk about that? The implications are years off. We'll all have much bigger things to worry about - especially those of us in the U.S. if the world stops selling us the stuff once the reality of the federal insolvency becomes apparent. Right now, everyone is working on faith. Hopefully it will last a little longer.
We could talk about the election, even, though I try to steer clear of specific U.S. political races. I regard it as an exercise in futility, bread and circuses while Rome burns, to mix metaphors on you. It won't matter who wins office - the Republic is bankrupt. Vote for whom you like least. Four years from now the winner in November will quite possibly exit office the most reviled President in U.S. history.
Up And At 'Em
Instead of the news issues of the day - let's focus on you. Most specifically, let's focus on that segment of you who loves to read news all day long and "stay informed." I'm included in that bunch along with many of you out there.
The days of just reading along with the news are rapidly coming to a close. We will all be living history - soon. I suggest to you that it is more important now to grow a few tomato plants inside your house or apartment than it is to watch the commentators on CNBC jabber.
It is more important to practice a trade like firearm repair, or electrician, or plumber, or permaculture farmer, or diesel engine repairman, or biodiesel producer or something - anything - that actually produces something.
A life mediated by computers and paperwork will no longer be an option for about 90% of the current white collar workforce. We are no longer spectators. We are all on this ride together.
Be a producer. Be a doer.
Good luck. God help us all and God save the Republic. He is about the only one who can, now.