The failure of the GSEs would make the S&L fiasco of the 1980s look like a bad night of poker. The failure of the GSEs would pose a far graver situat… - James Howard Kunstler

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The failure of the GSEs would make the S&L fiasco of the 1980s look like a bad night of poker. The failure of the GSEs would pose a far graver situation than the LTCM flameout. It could easily bring on cascading failures that might jeopardize global finance. This time, the… public would feel the pain.

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About James Howard Kunstler

James Howard Kunstler (born October 19, 1948, New York City, New York) is an American author, social critic, public speaker, and blogger.

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Without the Gulf Stream, Britain, France, the Low Countries, and Scandinavia would have a climate like Labrador’s, colder by in annual mean. The Gulf Stream has been likened to an oceanic conveyor belt. The force of the warm water flowing north has been described as equal to the volume of seventy-five Amazon rivers.

The high tide of the... [industrial] age also happened to be a moment in history when human ingenuity gained an upper hand against the age-old scourges of disease. We have enjoyed the great benefits of antibiotic medicine for... a half-century. Penicillin, sulfa drugs, and their descendants briefly gave [hu]mankind the notion that diseases caused by microorganisms could, and indeed would, be systematically vanquished. Or, at least, this was the popular view. Doctors and scientists knew better. The discoverer of penicillin, Alexander Fleming, himself warned that antibiotic misuse could result in resistant strains of bacteria.
The recognition is now growing that the victory over microbes was short-lived. They are back in force, including... old enemies such as tuberculosis and staphylococcus in new drug-resistant strains. Other old diseases are on the march into new territories, as a response to climate change brought on by global warming [caused by the burning of fossil fuels]. In response to unprecedented habitat destruction by humans and the invasion of [what we call] wilderness, the earth itself seems to be sending forth new and much more lethal diseases, as though it had a... protective immune system with antibody-like agents aimed with remarkable precision at the source of the problem: Homo sapiens.

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After air conditioning became widely affordable, southerners hardly went outside anymore, unless it was in a motor vehicle. Anything about southern vernacular architecture that once had been graceful in adapting to the climate was cast aside for the pleasures of air conditioning and [the] cheapness of construction.

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