Trash talk
Paired symptoms of our modern terminal disease are securitization and centralization. Everything in the world must be commoditized so Goldman Sachs can make trillions and trillions and trillions and trillions by creating derivatives and options and swaps and option derivatives and option derivative futures and option derivative future swaps and future index swap option derivative option index share futures.
Our marvelous American
talent for innovation, our constant invention of new financial crimes, cannot continue unless everything is
first centralized. When mortgages remain strictly between the original bank and the borrower, Goldman can't chop them up into futures. When health care is strictly between the doctor and the patient, Goldman can't chop up the
accounts receivable into futures. When electricity was generated in the City Power Plant and used solely by people in this City, Goldman couldn't chop the current into
purchasable shares. And so ad infinitum.
However: Centralizing was already a strong trend before Goldman invented securitization, and centralizing continues to create absurdity and damage even where Goldman hasn't yet found a way to securitize.
A good recent example: the
Conoco shipments from Japan to Montana, which were obstructed by hippie-ass commies until the Idaho state gov't finally laid down the law. The whole problem wouldn't have arisen if Conoco had chosen to build the refinery in the old localized way, shipping small plates and tubes from Pittsburgh via normal rail. Because they couldn't think outside the centralized box, they chose to hire a Jap company to build huge modules, which then required wildly complex and risky shipping plus armies of lawyers. The old way gives jobs to skilled American steelmakers, millwrights, welders and pipefitters; the new way gives jobs to Jap robots and American lawyers.
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I was thinking lately about the central trend in trash collection.
Before EPA came along, trash was condensed and processed in several steps, with much more local participation.