Point me to any discussions?
I’m interested in in any info on the following point:
“That is part of the reason we are now experiencing the Great Recession as the economy struggles to make enough economic profit from imported oil to pay for importing more of the stuff. It is a vicious circle especially with the other drains on the economic profits of imported oil like fiscal and trade deficits, wars for oil security and bailouts of banks, auto companies and such.”
So has anyone found any discussions by economists or better yet…economists and those in the energy field about this subject?
The amount the US spends on oil and the wars in the ME speak volumes? And we borrow and print $ to do these things.
In other words…how are cheap or underpriced energy and the “perpetual growth” model related? Has the US painted itself in a corner it can’t get out of? Is the govt failing to acknowledge this reality…because it is busy inflating multiple bubbles again?