Author and commentator James Howard Kunstler returns as our podcast guest this week for an update on where we are in The Long Emergency timeline.
In this wide-raging discussion ranging from the pervasiveness of propaganda in today's media to the risk of nuclear war, Kunstler also re-news his warnings of a current secular economic slowdown.
After too many years of market interventions, magical thinking, racketeering, and bleeding the 99% dry, he warns that our culture and economic system will soon reach a snapping point:
The important story is what happens in the financial sector and how it effects the economy in the next twelve to eighteen months. As we know, the financial system is the most abstract and fragile of all the systems that we depend on because the other systems can't run without it. The trucks won't make the food deliveries to the supermarkets unless the finance system works. The gasoline won't get to the pumps at the stations.
Nothing's going to move if the financial system cracks up. People no longer trust each other to transact, to get paid. And so they stop transacting.