In the face of the things like the , the scare, the , and other disasters that eroded the notional value of financial paper, homeownership itself was… - James Howard Kunstler

American life, with its twin engines of suburbanization and factory production of consumer goods for the […] world, became so quickly and obviously successful that a new consensus formed supporting the value of the dollar and its paper accessories in capital markets, chiefly stocks, and bonds. This is not to say that the securities markets boomed in the 1950s and 1960s—it took until then just to recover the value levels of the pre-1929 crash—but stocks and bonds did regain respectability, [and] legitimacy. Those who had lived through the Great Depression, meaning virtually all the men who had served in the wartime army, had very modest expectations about the role of finance in the postwar economy. In the 1950s and 1960s, Americans bought stocks for the annual dividends they paid, not to flip them for a quick profit. In fact, share prices remained […] very flat during this period. The whole notion of investment was different than it would become later in the twentieth century. In the 1950s and 1960s, stock and bond values were linked much more directly with the successful production of real goods. General Motors derived its profits and paid its dividends on the basis of auto sales, not as today, primarily from leveraging interest rates and other abstract numbers' games removed from the actual making of products. In sum, the public attitude about the role of finance was extremely conservative. Finance was not an “industry” per se, but a set of institutions designed to keep the idea of money and its accessories credible, […] to allow real industries to function.

As hunger and hardship increase, the world may see more than one wave of more than one disease. If and when an influenza pandemic emerges, for instance, many AIDS sufferers will succumb, but people infected with the AIDS precursor, HIV, will still survive influenza and AIDS will march on. India, for example, was among the hardest-hit nations in the 1918 flu pandemic. Today it has among the highest rates of AIDS infection. The age-old human enemies, tuberculosis, malaria, cholera, streptococcus, and other members of the familiar gang will be on hand with new immunity to the old techno-tricks of the [nineteenth and] twentieth centur[ies]. Even after these diseases may have spent themselves for a while, climate change [which in turn could create new diseases] will still be with us. Nobody really knows where that is taking us, though we do know that the human race has endured more than one ice age in the past.

The energy disruptions of the Long Emergency are going to remind us that the skyscraper was an experimental building form. These structures operated successfully during the twentieth century when there was plenty of cheap energy, and after that, they became a problem. Economic disruptions will put an end to many of the large-scale enterprises that remain in our cities, and the megastructures that were built for them. There will be no need for headquarters of national companies because, without cheap energy, continental-scale activities will no longer exist. The companies that service the giant corporations in areas like advertising, marketing, and public relations will also wither. Even operations such as the national media and, yes, book publishing as it is currently organized, may not survive in a nation short of energy, crippled in transport, sinking in production and trade, challenged in food production and distribution, and plagued by political crisis.