The Old World is leaving, but not as quickly as expected. The new comes, but it strolls. The Forces of Perseverance have reported important point victories in five different fields.
The place of longing inhabited by politicians is the future. The favorite words on posters and party programs are “progress” and “modernity”.
The citizens are not in such a hurry. You prefer a life in the here and now. Their favorite place is the present and the state they value most is normality, i.e. life as it has always been.
Everything we do and do on earth is therefore an eternal struggle between the gravitational forces of comfort and the centrifugal forces of change. The media-fueled fear of nuclear war, climate catastrophe, species extinction, water scarcity and overpopulation – contrary to what the fear sellers want – is not conducive to the forces of change.
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The forces of perseverance have recently reported important point victories in a wide variety of fields.
The electromobility offensive that started so hopefully has stalled. The growth in new vehicles has lost momentum, which is why rental car companies such as Sixt and Hertz are reducing their electric fleets. Mercedes-Benz AG has put the development of its new pure-blooded electric car architecture on hold for the time being.
If you take a look at the shares of the world’s largest oil companies, there is no sign of an energy transition. In the past five years, the shares of the largest US oil companies ExxonMobil, Chevron Corporation and ConocoPhillips have risen by around 60, 40 and 100 percent respectively. The stock market relies on fossil fuels.
Fossil fuels – although their role in air pollution and global warming has been proven – have been able to defend their dominance. Dr. Jens Ehrhardt, asset manager and Pioneer supervisory board member, writes in Finanzwoche:
“The German discussion about clean energy is a distorted perception when you look at the energy mix on a global level. Clean energy doesn’t really play a role worldwide yet.”
The aircraft industry is a success story that was temporarily slowed down by the corona pandemic, but not stopped. “To travel is to live,” said the storyteller Hans Christian Andersen.
And so even after the pandemic, demand for flight offers rose sharply again. “Such a clear deviation in real demand from plans and forecasts is unprecedented,” said the President of the German Aviation Industry, Jost Lammers, full of joy.
The number of global flights has increased by around 70 percent since 2004 to a projected 40 million flights in 2024.
Despite increased drone production and the first indications of cyber war, the traditional arms industry in particular is benefiting from a world in disorder. The production lines and share prices of the major defense manufacturers Rheinmetall, Lockheed Martin and BAE Systems are currently running hot. Rheinmetall has gained more than 400 percent on the stock market since 2020.
The price of gold is rising and rising, at an all-time high of $2,359 an ounce. With rising interest rates, which are supposed to make government bonds more attractive, the precious metal is bucking the trend. Since 2000, the price of gold has skyrocketed by around 730 percent. For comparison: The Nasdaq has only moved up about 300 percent since then.
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Conclusion: The Old World is moving, but not as quickly as expected. The new comes, but it strolls. It takes into account our longing for security in the ordinary. Or as Simone de Beauvoir once wrote: “Happiness is baked into the habits of daily life.”
