{"id":16298,"date":"2016-01-11T16:02:15","date_gmt":"2016-01-11T21:02:15","guid":{"rendered":"http:\/\/olduvai.ca\/?p=16298"},"modified":"2016-01-11T16:02:15","modified_gmt":"2016-01-11T21:02:15","slug":"discovery","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=16298","title":{"rendered":"Discovery"},"content":{"rendered":"
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Discovery<\/a><\/h3>\n<\/div>\n
I<\/span>t looks like 2016 will be the year that humanfolk learn that the stuff they value was not worth as much as they thought it was. It will be a harrowing process because a great many humans are abandoning ownership of things that are rapidly losing value \u2014 e.g. stocks on the Shanghai exchange \u2014 and stuffing whatever \u201cmoney\u201d they can recover into the US dollar, the assets and usufructs of which are also going through a very painful reality value adjustment.<\/div>\n<\/div>\n
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Of course this calls into question foremost exactly what money is, and the answer is: basically a narrative construct. In other words, a story explaining why we behave the way we do around certain things. Some parts of the story have a closer relationship with reality than other parts. The part about the US dollar has a rather weak connection.<\/p>\n

When various authorities \u2014 the BLS, the Federal Reserve, The New York Times \u2014 state that the US economy is \u201cstrong,\u201d we can translate that to mean giant companies listed on the stock exchanges are able to put up a Potemkin fa\u00e7ade of soundness. For instance, Amazon.com. The company continues to seem like a good idea. And it reinforces that idea in the collective imagination by sending a lot of low-priced goods to your door, (all bought on credit cards), which rings your (nearly) instant gratification bell. This has prompted investors to gobble up Amazon stock.<\/p>\n

It\u2019s well-established by now that the \u201cbrick-and-mortar\u201d retail operations are majorly sucking wind. Meaning, fewer people are driving to the Target store and venues like it to buy stuff. Supposedly, they are buying stuff at Amazon instead. What interests me in that story is the idea that every single object purchased these days has a UPS journey attached to it. Of course, people also drive to the Target store, though I doubt they leave the place with just one thing.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Discovery It looks like 2016 will be the year that humanfolk learn that the stuff they value was not worth as much as they thought it was. It will be a harrowing process because a great many humans are abandoning ownership of things that are rapidly losing value \u2014 e.g. stocks on the Shanghai exchange […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[977,39,11618,246,3286,449,1138,841,2589],"class_list":["post-16298","post","type-post","status-publish","format-standard","hentry","category-economics","tag-amazon","tag-assets","tag-discovery","tag-economy","tag-investment","tag-james-howard-kunstler","tag-stock-market","tag-us-economy","tag-value"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16298"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16298\/revisions"}],"predecessor-version":[{"id":16299,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/16298\/revisions\/16299"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}