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It doesn't feel like much of a recession, yet. Unemployment hasn't changed much and I don't see a bunch of stores closing. The one good thing from a mild recession will be that inflation will slow down and probably drop back to the more typical 1 or 2 percent per year that it was before Covid.
I think it was a big mistake to close the last 3 nuclear power plants last month. I don't think there is enough wind power in the middle and southern parts of Germany and not enough sun from October to April to provide enough power for the grid without coal power and nuclear power. True, there is good wind along the North Sea and Baltic Sea coast, but the bulk of the population and industry is not there. The power grid is also not coming from the coast, it is widely distributed. Buying power from France (nuclear power) or Poland (coal power) is not cheap and goes against the reasons for shutting down coal and nuclear plants in Germany.
Yes, Germany built a bunch of LNG terminals on the North and Baltic Sea coasts real quick within the past year. Only trouble is, other countries around the globe now have to compete with Germany for LNG supplies, which have more limits than pipelines. That will likely make LNG prices go up. It is a catch-22. Half the power plants need natural gas so it will be interesting to see what happens.
Europe provides just about nothing. They have almost no natural resources remaining that haven't been banned. They import energy from Russia and American protected ME pipelines and they require American defense and billions of American tax dollars to protect them.
They've taxed and regulated themselves to death - literally. (here comes yet another European World War).
It's so bad over there that Britain wants nothing to do with the EU, the northern EU states have a superiority complex against the southern EU states. They all speak different languages, have entirely different cultures and have thousands of years of non amicable history amongst themselves.
Of course they are in recession. They lost their access to cheap energy from Russia which is needed to power their significantly large industrial sector.
Correct.
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Originally Posted by davidt1
Economies go through periods of growth and stagnation. That is normal. Germany, the USA, etc. are no exception.
This wasn't caused by the business-cycle. It was caused by the Ukraine War.
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Originally Posted by Pilot1
We have centuries of oil domestically and finding more all the time so there's no need for alternatives for a very, very long time.
America consumes 20 million barrels of oil per day but produces 11.6 million. In total America consumes 7.4 billion barrels of oil per year with current proved oil reserves of about 44 billion barrels.
Our proven oil reserves have increased since the fracking/shale revolution, but we've probably already hit peak shale. Moreover, America and Canada are pretty much the only countries in the entire "west" who have significant amounts of oil. The rest of the world's oil is in semi-hostile countries.
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Originally Posted by Corrie22
Porsche is making gasoline out of air and water
Virtually all energy on Earth came from the sun. Some of that energy gets stored in molecular chains that can be released via chemical reactions. When it comes to automobile fuel, we're talking about hydrocarbons. There is hydrogen in water(H2O) and carbon(carbon dioxide) in the air. It is certainly possible to convert water and air into hydrocarbons, but it would require a source of energy and it would be extremely inefficient.
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Originally Posted by Listener2307
It looks to me like the world will de-industrialize at some point as globalization falls apart.
Globalization exists because America uses its navy to protect the world's shipping lanes and to police the world. We do that because it benefits us. The problem is that globalization is currently benefiting America's enemies. Something has to change, now.
Last edited by Redshadowz; 05-30-2023 at 01:14 AM..
The world is now entering into a permanent, irreversible, and horrific economic contraction due to peak oil production and energy/resource depletion.
Ya don't say? Three years ago this was you:
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Originally Posted by Taggerung
We are never returning to 2019 levels of activity and consumption. The corona virus has ripped a big hole in that arrangement and it can never be patched back up.
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Originally Posted by Taggerung
Because most people are deluded into thinking that everything will go back to "normal" after this pandemic. They are not. We will never return to 2019 levels of activity and consumption. A lot of things are going away and never coming back.
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Originally Posted by Taggerung
Good Lord this is like a nightmare. I knew this economic meltdown was coming, I knew that when it happened it would happen at lightning speed, but now that it's finally here it all feels so....surreal to me. I'm deeply worried for the future of this nation. This nation may not even be recognizable a year from now.
Are we to assume you have somehow gained greater knowledge and insight since your last failed prediction of doom, so that this time you know what you're talking about and will be right?
Also = we're still waiting for you in the tutu thread, you were supposed to upload your pic on May 21 2023 if USA economy hasn't collapsed.
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