Will peak oil cause a recession or depression?
Interesting vid, RubberRims. Think I’ve seen this fella’s face floating around before but don’t know who he is. That said, after listening to him speak for about ten seconds, he’s far more reality-based than 99% of the mainstream. The most interesting thing about the vid for me is that it’s more than a year old and he’s talking about heading into a potential depression, which back then would have been the equivalent of endorsing pedophilia. (It’s really sad how denialist our culture is.)
For me the real message of this presentation is that dwindling petroleum products will ultimately negate any potential turnaround by nipping in the bud whatever forces would be the impetus for said turnaround by denying them cheap and abundant energy to do their thing. This would be true even if we weren’t quietly dismantling the oil infrastructure.
However, because of the supply destruction occurring right now, if we were ever to require a huge and new input of oil it’s simply not going to be there.
I think a realistic goal for the industrialized nations right now would be controlled contraction.
Reflation. Which really sucks, $20.00 for a jug of milk and your unemployment benefit is running out.
Peak energy and resources will not cause a recession or depression. It will be the end of the world as we know it. If you disagree with this, then you do not yet fully appreciate the implications.