This is fun, isn’t it?

We have short term price pressure because of Brexit, Covid and climate change, but when iron ore prices can fall by 20% in a week, as they gave done in the last week, this can be seen as the price of disrupted markets and not the consequence of any underlying monetary trend that can be tackled by central banks.

All monetary explanations of inflation are wrong because the iron ore price can fall. Good to have that sorted out then, eh?

What is the way forward? With this post already 1,000 words long this is not the moment to address that in detail. But there is one over-riding message, which is that nothing will change until it is accepted that what we have had is broken, irreparably. Whilst we hanker for what was, and the idea that we can ‘get back to normal’ remains a dominant narrative, we remain in trouble.

What was has, I rather strongly suspect, gone. What we have to do now is build what comes next. It does not matter whether we want to or not. We have no option. The way we were was not sustainable in any sense, whether politically, economically or socially. When that is recognised we can move forward. My big concern is that I doubt that we are there yet. At the same time, I also think that awareness is coming. And that’s my basis for hope.

We must do something different though I know not what. A useful guide that, eh?

9 thoughts on “This is fun, isn’t it?”

  1. …though I know not what.

    More time for reflection is needed but my guess is that taxation and printing money will feature prominently in the solution.

  2. Dennis, Climate-Change Denying Fruitcake

    We have short term price pressure because of Brexit, Covid and climate change…

    Is there nothing Brexit and climate change cannot do?

  3. Short-term price pressure? Brexit and covid I understand, but climate change. The climate isn’t changing. The price pressures though are not short-term, they will ratchet up forever, balanced only by a fall in standards of living. As a result of listening to people who do not have the public interest at heart, activists and extremists. And to twats who go along with it for an easy life.

  4. Christ, Tim. You’d already read 1,000 words of gibberish before getting to the quote!
    A place in heaven among the martyrs is surely reserved for you.

  5. Global warming? Not over the last 40 years in Antartica.

    “East Antarctica, which covers two thirds of the continent, saw a cooling of 0.70°C per decade over the past 40 years. In total that particular region has cooled about 2.8°C since 1980.

    West Antarctica has cooled at a rate of 0.42°C per decade over the past 40 years.”

    Ah, but what about the (tiny) Antarctic peninsula? The 95% confidence limits on its decadal warming rate are
    -0.5°C to +0.41°C i.e. it ain’t statistically significant.

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