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The techno-industrial economy and financial system must expand or die. GDP growth is almost perfectly correlated with increased energy and resource exploitation. The problem is that- due to depletion, energy and resources which comprise the 'economy' are becoming increasingly difficult to exploit. The world has already reached peak oil. The oil that is the lifeblood if the techno-industrial economy will neveragain reach its 2018 levels of extraction- this is due to the immutable laws of geology and thermodynamics.
Man's strip mining of the world's nonrenewable natural resources into total depletion will ensure that the "good ol' days" of prosperity will never return. In fact, from here on out, there will only be a horrific economic decline. Covid is just a tiny sample of what's to come....
The global financial system has been living on borrowed time since at least 2006. We sold our souls to the devil so that we could continue the euphoric drunken debt orgy for a little while longer. Well, now the devil has come to collect. All of this unsustainable and unserviceable debt will be repudiated in one way or another- but most likely in a global hyperinflation...
All bubbles must burst- that is a law every bit as fundamental as gravity and thermodynamics. Though, what we have is not just a bubble, it's the bubble to end all bubbles. The larger the bubble, the worse the resulting crisis when it finally bursts. The coming economic crash will make the 'Great Depression' look like a Gilded Age of unparalleled wealth.
The limits to growth have been reached. It is impossible to have perpetual growth and perpetual debt expansion in a finite realm. The forces of nature are driving us towards contraction- the longer these forces are resisted, the heavier they will weigh down on us, until the forces are impossible to resist any longer.... and as a result, the resulting contraction will be all the more severe.
All the bubbles will finally burst- the stock market bubble, the bond market bubble, the crypto bubble, the real-estate bubble, the US dollar bubble, and finally, the most massive bubble of them all- the human population bubble. All paper assets; stocks, bonds, real estate, and fiat currencies, will be worth next to nothing in the face of the biggest contraction in recorded history, as all those "assets" derive their value from a perpetually growing economy.
The whole world is desperately attached to a system that has no future. In the coming years, we will see the most deranged fiscal and monetary insanity imaginable as governments and central banks everywhere frantically try to save this moribund system. They will make Japan appear as if it were being run by Paul Volcker... They will bail out anything and everything, they will print a quadrillion dollars, they will nationalize their entire country's economy if they have to.
The financial system is like an insatiable predatory beast that must continually devour more and more to remain alive- but in a world where the resources and energy grow increasingly scarce and difficult to exploit, the system will devour itself in a final act of self-cannibalization.
Last edited by Taggerung; 01-30-2022 at 09:23 PM..
How many threads have you started about peak oil? How many posts?
Give it a rest. No one is buying what you are selling.
The current inflation crisis (which is only going to get immensely worse) is just one symptom of the economic contraction caused by peak oil. This stuff is important, so I would suggest you treat it a little more seriously.
Peak oil hasn't gone away. It is still very much with us, and in fact, the problem is more dire then ever before.
Have you ever posted your historical return on your investments? If you are so negative on the economy and oil and all that, it is very easy to financially benefit from that happening. I hope you are invested for it. Could you tell us what are the investments that you are currently holding onto?
And besides…motor oil would have nothing to do with that…I used WD30…
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