Lockdown… day whatever. I’m eating raw herring for breakfast. And washing it down with a chocolate mint cappuccino out of a packet. I think these may be mental issues starting to manifest themselves out there in the physical realm. I used to think I was made from sterner stuff.
While I was sleeping oil futures went negative…
Wait… what? I think I might be experiencing a complete psychonautic breakdown here.
In the immortal words of the iconic and much beloved Mr. Anderson.
Write that down in your dairy Joey. You are unlikely to see that again in your lifetime. (mostly because you’re old AF now) Unless… of course… this is now a harbinger of things to come and negative commodity prices become the new normal where suppliers dump their Arabica into the ocean instead of paying us to drink more coffee.
But at the same time if you’d asked me a year ago if a barrel of oil might one day retail for -$40 I would have laughed in your face. Manic laughter complete with tiny globules of corona free spit.
How fascinating though. Academically I mean. In reality this is probably bad for everyone… at least in the short-term. Off the top of my head, higher oil prices drive innovation and alternatives to fossil fuels. Without that incentive to input costs, this will likely stall… which is likely bad since we are on a both a critical path and potentially at a tipping point when it comes to earth climate.
That, and there are a metric fuck tonne of businesses that will be affected by this… businesses that won’t be able to pay salaries and the knock of effect of that is substantial. Also who is going to bribe congress anymore? Did I say bribe, I meant lobby. That’s a whole micro-economy on its own.
Like I said. Bad!
Although maybe I mean interesting. I don’t know. The temptation to jump onto the sky-is-falling bandwagon is undeniable. Like a siren call.
I recently re-read Who moved my cheese. In the bath (where I do the vast majority of my reading). It is (imo) one of the greatest philosophical books of all time. Despite being overly cute and folksy. Its also short enough, if you skip the prologue, that you can read it cover to cover before your bathwater starts to shrivel your dermis to water-logged corpse consistency.
All of this (Corona, oil and stockmarket collapse) is just the cheese getting moved to a different part of the maze. We can sit around and bemoan how good things ‘used’ to be. Or we can put our running shoes back on and seek out new cheese.
There is undeniable stoicism in that.