Source: New York Post
by Rainer Zitelmann
“Science fiction author Arthur C. Clarke wrote in 1977: ‘The impact of telecommunications satellites on the entire human race will be at least the same impact as the advent of the telephone in so-called developed societies.’ Today, that prediction has long been reality. Few people realize how deeply daily life already depends on space infrastructure. If all satellites suddenly failed, navigation systems would collapse. Smartphones and vehicles could no longer determine location accurately. Weather forecasts would become unavailable. Airports would descend into chaos without GPS-based time and positioning data. Traffic signals would desynchronize, leading to chaos on the roads. Supply chains that depend on satellite-supported logistics would disintegrate. Even financial transactions would grind to a halt, as precise time signals via satellites are vital for synchronizing debits and credits.” (06/27/26)
https://nypost.com/2026/06/27/opinion/what-capitalism-will-look-like-in-space/