James Howard Kunstler at his acerbic best, writing on the meaninglessness of the “fiscal cliff” crisis at his blog, Clusterfuck Nation:
Do people like Barack Obama and John Boehner think we’re going to re-start another round of suburban expansion (a.k.a. the housing market)? That’s largely what the old economy was based on, and what Wall Street fed off of parasitically the past twenty years. That is so over. Do they believe that when absolutely every task in America is computerized there will be any gainful work outside of a sort of janitorial IT to tend all the computers. We’ve already seen what happens with the telephone system: after 30 years of techno-innovation in “communications,” it’s now impossible to get a live human being on the phone and robots call you incessantly during the dinner hour. Anyway, we don’t really have the energy resources to supply the electricity for all this crap indefinitely, or probably even another twenty years.
All the tendencies and trends in contemporary life are reaching their limits at the same time, and as they do things will crack up and fall apart, whether it involves the despotic reach of a government, or a tyrannical corporation, or a hedge fund server farm stuffed with algo-crunching computers sucking the life out of every honest market transaction until the markets are zombies. The euphoria that greeted the end of the fiscal cliff ritual has settled back into the feckless collective state-of-mind that we call “bullish.” It’s all noise and the madness of crowds now. And black swans shitting on your head some sunny day.
And for those who don’t get his final “some sunny day” reference, here’s the closing scene from Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb: