Is the world economic crisis causing a fundamental reset, back through to an earlier, more basic economic historical period?

YouTube ^ | 04/06/2026 | CharlesOconnell

[CharlesOConnell]

I just saw a list of the commodities that are undergoing restriction of distribution in the Strait of Hormuz. When seeing a stark view of them, together as a group, I hadn't realized how extensive it is:

1) oil (gasoline and deisel), 2) liquid natural gas (LNG), 3) urea (fertilizer for food), 4) sulfuric acid (phosphate fertilizers for farming), 5) helium (microchips). (Source: Larry Johnson, today 04/06/2026 at 9 AM E.S.T.).

I would like to hear from someone who has a good, fundamental understanding of economics, about the following question, (not someone who is an academic egghead, not anyone who has had their creativity and commonsense stifled in the ivory tower echo chamber):

Is this a fundamental reset, back to commodities as the most important area, back from finance, even more important than manufacture?

To put it in a picture, moving away from Wall St., even moving away from Detroit, back to Pittsburgh.

(Wall St. = Finance, merely making money off of transactions which are of limited value in themselves, and don't enrich anybody but those on the top; Detroit = Manufacuring, making stuff people use; Pittsburgh = Oil, a commodity, stuff people need to live on.)

Soliciting comments here, so I can find out. Compulsive snarks, please don't waste our time beclowning yourself, please go read something else. "The smartest response usually is just, really, 'I don't quite know, but I myself would like to find out' ".

---

TOPICS: Business/Economy; Iran; Israel; War
KEYWORDS: iran; lng; oil; tds; war

[CharlesOConnell]

A view of economic eras, is that, we are at an end-stage, when finance is king, and the only prominent manufacturing sector is defense, which is vastly more profitable than other manufacturing industry sectors, but is incredibly subject to fraud. (Source, MIT Nuclear, Missile and Drone Studies Prof. Ted Postol.)

Our golden age of manufacture was the 1950s - 1980s, before our jobs and factories were shipped offshore.

We were building up to our accidental dominance of world trade, since around World War One, but, really, since the 1880s.

Prior to returning Civil War draftees coming back to the farm to find that their wives got their families in hock to County tax offices and banks because they couldn't keep going when the husbands were off fighting; on the farm, you did everything, you didn't typically have hardly any money, you lived primarily off of everything you grew yourself, you mostly bartered your excess for other stuff you didn't grow, and you got scarce manufactured implements from extremely rare money. "We were poor but we didn't know it", was the typical comment of people who were still out on the farm, back into the early 1900s, but they may not realize, there was much less of a money economy.

This history unfolded later in North America than in England, when, back to the reign, say, of Henry VIII's father, peasants had traditional rights to land of various grades, even a little of the best, the bottom land, which couldn't be taken from them. But then, the sharpies who were the King's quick friends around that time, figured out that everything (even today, wildlands/nature) could be expressed as money, called "commoditization", and for wool raising for the Italian cloth trade, open lands were fenced in, called "enclosure", throwing the peasants off the land, soon after to Cottage Industries, but by the Industrial Revolution, to factory slavery. There was terrible overproduction, that reduced the value of the least skilled wages.

Someone who knows more, please pick up the thread.

[Celerity]

Yes.

We have challenges domestically though.

The people who have raised from their couch and reported for duty in their garage or shop need support.

We had more than 30 US car manufacturers during the depression. The laid off workers went home, gathered their laid off friends and hit the garage to make their own cars. Not every company survived, but the markets to buy a car were adapting to the new reality.

Our local craftsmen need support. good tools, good steel good wood. We need our governments help in providing this.

Not a hand out, a hand up.

I’ve been comparing it current situation to the abusive relationship. We have been abused by the world at large for generations. The process of recovery is similar.

[ckilmer]

If you believe the ai hype, then another Industrial Revolution is now starting on a scale that’s 10 times the size of the Industrial Revolution of the late 19th century.

[Worldtraveler once upon a time]

--- "The smartest response usually is just, really, 'I don't quite know, but I myself would like to find out'."

Okay. How about "I'll trust the Trump-Vance administration on these issues."

Based on the viable other alternatives, past to future --- 1) a once possible Harris-Walz administration, 2) another Democrat administration, 3) the possible next impeachment attempt by Democrats, and related --- there are no other alternatives.

But what is sure -- on this topic, well documented now -- lots of Google-AdSense income and related ( X pays as well these days ), talking heads have lots to say in lots of directions.

So. "I'll trust the Trump-Vance administration on these issues."

[bigbob]

You probably saw that over 80% of the oil that passes through the Straits of Hormuz goes to China, Japan, India, and South Korea. The US doesn’t need it so why should we care if it’s closed?

The answer may be a return to the notion of the strongest nations controlling key resources as a way to exert control and stabilize global economics. If we were concerned only with eliminating the nuclear threat we would focus on that and let Iran play all the games with Hormuz it wants.

[Miami Rebel]

“The laid off workers went home, gathered their laid off friends and hit the garage to make their own cars.”?????

You present this as a widespread phenomenon, yet I’ve never seen a single example of this. Can you share a link?

[Worldtraveler once upon a time]

Anent of my comment # 4, income estimates.....

Judge Napolitano - Judging Freedom $28K - $443K Yearly Estimated Earnings, courtesy of Social Blade

And check out all the buying opportunities on his website -- Welcome to the ALL NEW JudgeNap.com

Cold and merch and other videos.... Like:

Prof. Jeffrey Sachs : Trump Reveals His Desperation

Do those participating in the daily, income-producing back and forth have any ACTUAL plan for this nation? Anything other than the Democrats' plan -- rid the nation of the Trump-Vance administration?

[Brian Griffin]

“Our local craftsmen need support. good tools, good steel good wood. We need our governments help in providing this.”

Government needs to get out of the way. Building codes need reform.

[rellic]

It is all very simple.
The world has changed.

Democrats are idiots and
we don’t know how to
keep them occupied.

I’m educated and
made the systems that
eliminated the need for
dumb labor.
I never thought about the
dumb idiots
I was working to replace.
Unfortunately those dumb idiots vote,
make more dumb idiots, and thus
we all have a problem that seems
unsolvable.

I propose a solution;
We can work with Russia.
They need people and they have
massive resources they can
no longer defend without more
people.
Their form of Government fits
Democrats ideals.
Offer free Eastern Russian
lands to Democrats!
To Russia we offer defense
from the resource poor Chinese.

Win win.

[Celerity]

Not so much a link, but a bit of history.

Look at all the car companies in America that started during the depression. Most didn’t last, but that’s ok. Some went on to be bought out (REO - Ransom E Olds) Cushman (still sort of around same for Grumman), White trucks (now Volvo trucks) Studebaker, Packard, Hudson.

That’s just one industry. A passion for history allows one to recall the really hard stuff that America survived. Things we forget about. I have no idea.. literally no idea how we survived the dust bowl. The depression. Even our founding years as America. The civil war. WW rationing.

The party is over once again. A few Americans will get back up dust themselves off and get to work. I strive to be one of them (I already am, really. I read this in the tea leaves more than 30 years ago when I worked in high finance)

Again, look to the abused spouse finally taking a stand and leaving their abuser. All of the psychology is there (everyone saying our bravery is just us being assholes) and the other markers.

Other countries telling us how disappointed they are that we even think they are abusing us. “Without us you’re nothing” “your being stupid. Get in line with us or you’re just stupid”

It’s all the same. Trump was sick of it since the 90s. It’s time for us to show the world what America is again. We’re not going to keep giving and giving and giving for nothing return. The days of them treating us like a punching bag are over.

We’re also going to start giving them a taste of their medicine. I want us to take the oil. To the victor go the spoils. Carpetbagging is a part of victory.

And if the acid nations if a post WW2 world show us anything ... It’s all good because they would do it to us in a heartbeat. If China wins this war we will all be literal slaves to them. No other county is expected to behave nicely but us. It’s bullshit.

Remember that Sony is Standard Oil of New York. Carpetbagging.

[Brian Griffin]

I used to be able to buy 16 oz. copper for about $1/square foot about 35 years ago.

[Brian Griffin]

It costs about $35,000/year to give a kid an education in NYC’s public schools.

[Celerity]

We still buy cheap oil. We produce oil but it’s not cheap.

How so? Other countries still use slaves. We don’t.

We have to understand that slaves make countries prosperous and slavery is terrible.

Use AI robots as slaves. Problem solved. We aren’t slaves and it’s pathetic that we allow ourselves to drive down the road for 4 cents of a gallon to support that slavery.

The days of $5 gallon has are here and it’s not going away until we find a new slave labor force. Robots fit this bill very well.

[Brian Griffin]

“Country boys can survive.”

[Brian Griffin]

“The days of $5 gallon has are here”

Get filled up and fleeced while you still can.

[Worldtraveler once upon a time]

--- “The days of $5 gallon has are here” Get filled up and fleeced while you still can.

Filled up yesterday, $ 3.89. Sure depends on where one lives -- translation, "how close to a Democrat-run loony farm one lives."

[kaktuskid]

Sulfuric Acid is a by-product of copper smelting. And is reused to concentrate copper ore. A lot of it comes from Arizona and from Mexico.

[pissant]

No, it’s not

[catnipman]

what economic “crisis” ... DJIA down only 2% during the last month ... that’s pretty much just noise ...

[citizen]

Re Wall Street vs Main Street

Wall Street pre-1971 - Systemic, structural problems occasionally arose but was more geared to solid manufacturing and product distribution, real-world earnings, dividends, PE ratios

Wall Street post-1971 - some of the above remains but increasingly more bubble boom/bust cycles, largely controlled by meddling central banks, interest rate manipulations, media hysteria, hedge funds, fake financial instruments, program trades, day traders, “buy the dip!” New IPO!” “How high will it go?!” madness...

1971? The world went off the Gold Standard, yielding ever more worthless fiat currencies and deficit spending everywhere.