2 weeks ago
Wednesday, September 17, 2008
Oh dear! When things are chugging along calmly Panther churns out post after post, but when the shit hits the fan I'm much more likely to be watching the news, Bloomberg and the markets. And what a week or so it's been! First Lehman Brothers and Merrill Lynch, today it's Lloyds possible buy out of HBOS. The markets dither and don't always reflect the long term reality, but the drift is down.
So what's the long term view? My own faith in capitalism will never be shaken, but I'm glad that we're beginning to see the end of this Thatcherite socialist populist 'capitalism', that's really just consumerism for sheep fuelled by cheap credit and tat. I think this is the beginning of the end for so-called 'globalisation' and a robust rebirth of genuine, small-scale, artisanal capitalism, funded by wealth rather than debt. The death of the dollar (and many other fiat currencies) is getting closer by the day, the death of pointless jobs will follow and the growth of the family as unit of production is on the rise. Our towns and villages will begin to fill with shops, business units and real people, our railways will be reinstated and energy will be produced in the UK, not imported at high prices from stupid places like Russia and the Middle East.
This is a major, pre-Transition, change to our society, and not before time.