Hillary and Bernie both in denial about our true fiscal mess

Published on February 8th, 2016 | by

By James Howard Kunstler

The remaining sound-of-mind Americans must view the primary election spectacle with global-warmingmounting sensations of wonder, nausea, and panic.

It’s one thing for the financial system to crack up, and another thing for social norms to disintegrate, and still another for the political system to become a locked ward of obvious psychopathology.

Even the neurosurgeon on duty went narcoleptic the other night when his name was called to take the stage.

Last week’s candidate “debates” (or boasting contests) only underscored the human frailty on display. Marco Rubio was unmasked as an android with a broken flash drive. For a few moments I thought I was seeing a clip from the old movie Alien. In fact, the Republican melodrama more and more echoes the tone and plot of that story: a hapless, bumbling crew lost in space. One of these nights, something unspeakable is going to shoot out of Donald Trump’s mouth and there will be blood all over the podiums.

On the Democratic side, the boasting contest between Hillary and Bernie was not more reassuring.

Bernie blew his biggest chance yet to harpoon the white whale known as Hillary when he cast some glancing aspersions on Mz It’s-My-Turn’s special side-job as errand girl of the Too-Big-To-Fail banks. Together, Bill and Hillary racked up $7.7 million on 39 speaking gigs to that gang, with Hillary clocking $1.8 million of the total for eight blabs. When Bernie alluded to this raft of grift, MzIMT retorted, “If you’ve got something to say, say it directly.”

There was a lot Bernie could have said, but didn’t. Such as:

  • What did you tell them that was worth over $200,000 a pop?
  • Whatever it was, it must have made them feel all warm and fuzzy inside.
  • Did it occur to you that this might look bad sometime in the near future?
  • Is there any way that this might not be construed as bribery?
  • And how is some formerly middle-class out-of-work average voter supposed to feel about you getting paid more for 45 minutes of flapping your gums than he or she has earned in the past five years?

Bernie could have found a gentlemanly way to say that directly, but perhaps he experienced a sickening precognitive vision of his jibes being used against the party establishment’s candidate in the fall general election. Of course, if it looked like Hillary was going to get elected, the remaining sound-of-mind in this country might be falling over each other to apply for citizenship in Uruguay.

Beyond all the political histrionics, is there not some broad recognition that whoever occupies the White House in 2017 will preside over a financial debacle like unto nothing in scale that the world has ever seen before? With all the reverberating side effects imaginable among the traumatized nations? Something wicked has been creeping through the stock markets since the year began. The velocity and damage are amping up. Credit default swap spreads are yawning like fault lines in a ‘quake. Bankers are watching their share prices collapse. It’s a wonder that panic has not already broken out.

This is not just about Wall Street and its counterparts in London, Shanghai, Tokyo, and Frankfurt. This is the financial world (and underworld) catching up with the Economy of Actual Stuff. In the USA, that economy has bled out like a hapless bystander with a sucking chest wound for the last eight years. Despite all the patriotic sanctimony on view at the Superbowl, the nation appears to be visibly cracking up, along with the fantasy of a permanent global economy.

None of the desperate work-arounds since 2008 have worked around the predicaments of our time. Politics will not abide a rational journey out of our fatal hyper-complexity to something simpler and more consistent with the realities at hand.

Expect more and greater craziness as the year lurches on.

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(Originally appeared at Clusterfuck Nation.)





About the Author

James Howard Kunstler has been writing about peak oil and the destruction of American civil society since the 1990s. He is the author of The Long Emergency, Too Much Magic, The Geography of Nowhere, the World Made By Hand novels, and more than a dozen other books. He lives in Washington County, New York.