When Giants Fall
When Giants Fall by James Howard Kunstler
It was only a few decades ago that Walmart entered the pantheon of American icons, joining motherhood, apple pie, and baseball on the highest tier of the alter. The people were entranced by this behemoth cornucopia of unbelievably cheap stuff packaged in gargantuan quantities. It was something like their participation trophy for the sheer luck of being born in this exceptional land, or having valiantly clawed their way in from wretched places near and far — where, increasingly, the mighty stream of magically cheap stuff was manufactured.
The evolving psychology of Walmart-ism had a strangely self-destructive aura about it. Like cargo cultists waiting on a jungle mountaintop, small town Americans prayed and importuned the gods of commerce to bring them a Walmart. Historians of the future, pan-frying ‘possum cutlets over their campfires, will marvel at the potency of their ancestors’ prayers. Every little burg in the USA eventually saw a Walmart UFO land in the cornfield or cow-pasture on the edge of town. Like the space invaders of sci-fi filmdom, Walmart quickly killed off everything else of economic worth around it, and eventually the towns themselves. And that was where things stood as the long emergency commenced in the winter of early 2020, along with the Covid-19 corona virus riding shotgun on the hearse-wagon it rolled in on.
We’re in a liminal, transitional moment of history, like beach-goers gawking at the glassy-green curve of a great wave in the throes of breaking. Such mesmerizing beauty! Alas, most people can’t surf. It looks easy on TV, but you’d be surprised at the conditioning it takes, and Americans are way, way out of condition. (All those tattoos don’t give you an ounce of extra mojo.) And so, in this liminal moment, the people still trudge dutifully to the Walmarts with their dwindling reserves of cash money to get stuff, going through all the devotions that we took for granted before the wave welled up and threatened to break over us.
Which is happening. Despite all the fake-heroic blather from the Federal Reserve, from Nancy Pelosi, from Mr. Trump and Mr. Mnuchin — from everybody in charge, to be really fair — and in the immortal words of another recent president — this sucker is going down. Specifically, what’s going down is the aggregate of transactions we call “the economy.” Meanwhile, the people in charge struggle to prop up the mere financial indexes that supposedly represent economic activity, but more and more just look like a shadow play on the wall of some special slum where the street-corner economists peddle their crack. Eventually, the people don’t even have money for the crack, and to make matters worse, whatever money actually remains on the street is worthless.