Imagine the economy as a wagon with one string attached to the front and one at the back. When energy is cheap, the wagon is pulled forward by the front string. The string at the rear represents monetary policy. Pulling on the rear string prevents the economy from going too fast.
Cheap energy is over. There is nothing pulling the wagon. Now the 1% is trying to move the wagon by pushing on the string at the back.
It is clear that a new system is needed. We, the 99%, must make it happen. There are things we can do now, under the current system, that will smooth the transition. First, let's stop wasting energy. Autosprawl, the system of cars, highways, and suburbs, is a waste of energy. It seems all-powerful, but in fact it is very weak and getting weaker. If we make buses free in the city, we can break its back.
Cheap energy is over. There is nothing pulling the wagon. Now the 1% is trying to move the wagon by pushing on the string at the back.
It is clear that a new system is needed. We, the 99%, must make it happen. There are things we can do now, under the current system, that will smooth the transition. First, let's stop wasting energy. Autosprawl, the system of cars, highways, and suburbs, is a waste of energy. It seems all-powerful, but in fact it is very weak and getting weaker. If we make buses free in the city, we can break its back.
