The Greater Depression has resumed after its hiatus since 2009. Will the economy that emerges be more decentralized and localized? It’s a good bet that it will. From James Howard Kunstler at kunstler.com:
It was only a few decades ago that Walmart entered the pantheon of American icons, joining motherhood, apple pie, and baseball on the highest tier of the altar. The people were entranced by this behemoth cornucopia of unbelievably cheap stuff packaged in gargantuan quantities. It was something like their participation trophy for the sheer luck of being born in this exceptional land, or having valiantly clawed their way in from wretched places near and far — where, increasingly, the mighty stream of magically cheap stuff was manufactured.
The evolving psychology of Walmart-ism had a strangely self-destructive aura about it. Like cargo cultists waiting on a jungle mountaintop, small town Americans prayed and importuned the gods of…
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