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On The Road Again...

Wednesday, June 2, 2010, 10:21 AM
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Well, I am on the road again.  Right now I am in St. Paul, Minnesota, readying myself to give a one-hour talk and one-hour Q&A session to the general public at the request of the MN state legislature energy commission.

As I scan the news, I am seeing a number of worrying trends, not the least of which are the number of high-level money managers who are essentially throwing in the towel on the financial system.  They have either lost faith that markets are worth participating in, because they are too heavily influenced (or manipulated) by governments and/or their agents, or they have lost faith in the idea that we can ever grow our way out from the mountains of debt that we not only created in the past, but continue to pile on, even today.

Once the big money folks lose the connection to value of fiat money (something I lost a while ago), then I would predict some rather sudden changes to the system.

The biggest new trend or potentially disruptive event is harder to track, but profoundly important.  One of the dominant themes holding the narrative together for many, many people is the role of technology in ameliorating, if not solving, our future problems.

The impact of the Deepwater incident lances deep into that narrative, creating a wound at a terribly delicate time.

 

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