My Approach to Writing on the Economy

The economy is a very popular topic. Everyone wants more money. Everyone has a strong opinion. Lots of intriguing and murky stuff goes on. Many bloggers make a living from analyzing, predicting, muckraking, and titillating.

Many different sites cater to different perspectives. Do you want to blame the fed, or the rich, or the slackers, or the foreigners, or the right-wing, or the left-wing? Take your pick, you can find a big community of like-minded people to froth with.

What’s really hard to find is a deep unbiased understanding of what’s actually going on.

It’s there if you dig, but it’s hard work.

There’s little I can say about the economy that’s not already been said. So I will be brief and stick to the important things to know, and things I do not often see elsewhere.

Cognitive Dissonance Everywhere

Had lunch today with a successful small-scale farmer specializing in producing healthy meat.

He seemed oblivious to problems we face. He said peak oil had been proven wrong and that the new fracking technologies were going to make the US an energy exporter. He seemed an intelligent person, yet believed strongly in something for which he had no supporting data and chose not to ask me any questions about why I held a different view.

Nate Hagens was right. The data have proven peak oil a reality yet the public still views peak oil with hostile distaste and willful ignorance. I think Varki’s theory explains the willful ignorance.

I would estimate the number of people who understand what is going on is less than 1 in 10,000. What will happen when the economy collapses? Almost everyone will be surprised and unprepared.  The chorus will be “no one saw this coming”.