Book Trailer The Noble Train

Thursday, November 20, 2008

The Death of the Old Economy

We are living through massive change: nothing short than the death of the old oil based economy and everything that goes with it. Our twentieth century economy is woefully inadequate for twenty first technology that moves at lightning speed. The old economy depended on backroom deals and snuggling up between trading partners. That was left behind when a keystroke can sell millions of stocks and there is no time to correct the problem. The old economy was put together by old white guys who made sure they got theirs first and then gave away what was left. The problem is the world demands more now and via the internet they are going for it. This brings us to the next problem--there is not enough of the pie to go around in the oil economy. The wealth bottlenecked at the top does not trickle down and makes for bad judgement. Bad judgement worked in contained economies like the United States where everything could be rigged for the company. Not so in the global ethernet economy. The consumers will not behave. They will not be coerced. They have too much information and the media is telling them that things are not right and their gas guzzling cars and bloated homes have no value anymore. So they shut down. Immediately. A real product of the wired info age. The big exececutives can no longer lie and have the media disseminate the product. Even the richest oldest white guy Warren Buffet couldnt bluff everyone back into buying. They are watching in real time their 401Ks and stocks goe down and they will not be fooled again. A lot of people have pulled out and the ones that stayed are not buying. So we are seeing the auto companies fail and all their concommitent parts. The oil economy is dying. We know now we must have fuel efficent cars and no one wants to drive anymore. A new economy will eventually emerge that will be fully wired, cyber based, and not dependent on foriegn oil. And it will boom. It will be so efficent it will make this old oil based capitalism look like something from the stone age. But until it comes, we are going to live through the death rattle of the twentieth century fossil fuel plutocracy. It will not be pretty.

Books by William Hazelgrove