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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (71390)11/30/2009 3:41:11 AM
From: Maurice Winn5 Recommendations  Read Replies (1) of 74559
 
Gold production in Alaska. I noticed the Fort Knox mine in that link: adn.com It is quite an impressive hole in the ground. Moai culture writ large.

The process is:

People invent dirty great SUVs for roaring around freeways buying ice cream and cheap Made in China stuff which they pack into houses built for very high prices using borrowed money.

They used up the Spindletop oil so have been digging further afield, including Alaska where they found lots.

They built an umpty$billion pipeline to the SUVs.

But the burning of carbon causes Global Warming, so they have to turn it off. But before they do, they burn a lot of it to dig the huge Fort Knox mine. But despite burning all that carbon, reglaciation wins out and ice covers Fort Knox, the oil and gas fields in kilometres of ice, along with most of North America

The gold they dig out of Fort Knox mine, they bury again in another expensive hole at Fort Knox, but this time with sentries and expensive protection because concentrated gold attracts the likes of Spanish Conquistadors.

When all the shouting is done, what will be achieved is a big hole in the ground in Alaska filled with ice. Other big holes in the ground that were filled with hydrocarbons. A hole at Fort Knox filled with gold. A lot of asphalt spread around the countryside. Lots of worn out SUVs. Lots of people fat with ice cream. Large debts to China. Transfer of property titles to creditors [China and Japan]. Or default.

It's all very reminiscent of Moai culture, but on a grander scale. Easter Islanders were already in trouble before the Conquistadors arrived. It didn't get any better after that.

Conquistadors are moving into the southern USA from Mexico as we speak. They call themselves undocumented immigrants rather than conquistadors, but the effect is similar.

Somehow, the whole process lacks sense and a purpose. It looks like a go-nowhere borrow and hope circular process, of digging holes and filling them in again, leading to a financial black hole, rather than an unbounded teleological process of Virtuous Victorian Values leading to enlightenment, nirvana and Utopia.

Mqurice
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