Oct 142010

I keep suggesting that our ferry crisis is the canary in the coal mine for Lummi Islanders. We can look at the current situation as “Peak Ferry.” That is, our ferry service is not likely to be as good or as cheap as in the past. “Peak Ferry” is like “Peak Oil.” It doesn’t mean we won’t have any. It just means we’ll have less, maybe a different kind of service and that it will cost much more.

Looking at financial problems facing the world, nation, state and county it’s clear that there are no short term solutions. We probably shouldn’t even be thinking in terms of solutions. Instead we should be trying to figure out how we will respond and adapt. We need to work on intelligent responses and thoughtful adaptations.

I’m pretty certain that the majority of us believe that we are just in a down economic cycle and that at some point, in the not too distant future, we will come out of it. Jobs will appear, people will start buying houses again and everything will be okay. The problem is that the fundamentals of our economy are so rotten that an upswing can’t happen very quickly. I’m guessing not in my lifetime. Evidence leads me to conclude that we are still going down.

Start reading about the suspension of foreclosures. Some might think this is good news. We are saving people’s homes. What it actually seems to mean is that the chain of ownership and paperwork is so corrupted that banks don’t want to reveal the rot in the system. This foreclosure thing could be the bomb that blows up the banking system. When that happens our currency system, as well as your own bank account, can take a hit. This is why gold and silver are racing to new historical highs. Smart money wants a backup plan. Buying gold could be considered an intelligent response. Own some gold/silver and you are in a position to be your own central bank.

The foreclosure crisis will further slow down the housing market. One of four homes sold in the second quarter were foreclosures. Who will buy a foreclosed home now that all 50 state AGs are investigating corruption in the system?  How can you buy something that doesn’t have a clear title?

“Peak Ferry” is a wakeup call to help us work on intelligent response and adaptation to the huge transition that will be taking place in our lives. Instead of waking up the majority of us are working as hard as possible to protect the status quo.


  3 Responses to “Peak Ferry”


    For several days investors have seemed barely to blink at the slow-motion train wreck in mortgage foreclosures. But that calm facade is starting to crack.

    On Thursday, shares of U.S. banks fell, and the cost of buying protection against their possible default surged, as investors began to consider what the foreclosure problem could cost them.

  2. Thanks for staying on track and continuing to try to hammer home the reality of the situation. I don’t think the majority of the people are remotely clued in to the enormity of the problems that exist in the markets today, whether financial, real estate, bond, gold, or….take your pick. These problems are just as much a part of life as gardening, hiking, school, or any other activity. Look at the negative impacts on day to day life, both financially and socially, created during these initial stages of the downturn. The subject matter seems to be conveniently shoved into some dark corner …supposedly for another day which never comes, so no real understanding emerges, much less a plan to deal with the fallout. The silence is deafening…..life out of balance….the herd is frozen in the headlights, feet in quicksand….the tide continues to rise.


  3. FYI….What should I do…..build resilience into your life:


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