Monetary inflation became a thing for the first time since Roman days — a much easier trick with printed paper banknotes than with silver coins — but… - James Howard Kunstler

Globalism was operated by oligarchical corporations on the gigantic scale, made possible by cheap oil. By “oligarchical” I mean that power was vested in small numbers of people running large organizations who were not accountable for their actions to many of the people who were subject to those actions. By “corporation,” I mean a group enterprise given the legal status of a “person,” with “rights,” but in fact devoid of any human qualities of ethics, humility, mercy, duty, or loyalty that would constrain those rights. As Wendell Berry put it, “a corporation… is a pile of money to which a number of persons have sold their moral allegiance… It can experience no personal hope or remorse. No change of heart. It cannot humble itself. It goes about its business as if it were immortal, with the single purpose of becoming a bigger pile of money.

We should… conclude that the abandoned big-box structures will not last more than one generation under any circumstances. […] The same thing can be said about malls, strip malls, and chain restaurant buildings. Eventually, they will be the salvage yards and mines of the future.

A UN ceasefire ended hostilities on October 22, 1973, but the OPEC embargo against the United States remained in force while the organization further increased the price per barrel to the rest of the world. What followed was an interesting case study in network breakdown and cascading failure. In fact, the embargo never actually achieved a shutoff of OPEC oil imports to the United States. All but about 5 percent of the needed supply found its way to America by a circuitous route as allocations to other nations were surreptitiously redirected. But the base price of a barrel of oil did eventually more than quadruple by the time the embargo was called off in March 1974. And the price rise, alone staggered the West and Japan. Already at that time, public transit was a thing of the past and about 85 percent of Americans drove to work every day.