The G-20 came to Washington for the weekend and sucked all the air out of the city before announcing that they were really serious about patching all the leaks in the foundering ship of globalism. Well, they have to at least pretend that they are doing something. Meanwhile, the former bit player known as reality has taken center stage in the ship's main lounge. It is putting on an act even gnarlier than the Kit Kat Klub show in Cabaret.
This reality show is sending some clear signals to the denizens of the real and really crowded world. The main signal is that the trade and financing rackets of recent decades are over. The extravaganza of economic hypergrowth based on cheap resources is over. The promiscuous swapping around of risk and rewards is over. There is no global institutional framework for managing the impairment left in the wake of this binge. It will be up to the individual nations now to figure out their national lives and livings.
Peacenik can't not post Kunstler on a Monday morning. Enjoy.
