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There Is Hope In Understanding That A Great Economic Collapse Is Coming
If you were about to take a final exam, would you have more hope or more fear if you didn’t understand any of the questions and you had not prepared for the test at all? I think that virtually all of us have had dreams where we show up for an exam that we have not studied for. Those dreams can be pretty terrifying. And of course if you were ever in such a situation in real life, you probably did very, very poorly on that test. The reason I have brought up this hypothetical is to make a point. My point is that there is hope in understanding what is ahead of us, and there is hope in getting prepared. Since I started The Economic Collapse Blog back in 2009, there have always been a few people that have accused me of spreading fear. That frustrates me, because what I am actually doing is the exact opposite of that. When a hurricane is approaching, is it “spreading fear” to tell people to board up their windows? Of course not. In fact, you just might save someone’s life. Or if you were walking down the street one day and you saw someone that wasn’t looking and was about to step out into the road in front of a bus, what would the rational thing to do be? Anyone that has any sense of compassion would yell out and warn that other person to stay back. Yes, that other individual may be startled for a moment, but in the end you will be thanked warmly for saving that person from major injury or worse. Well, as a nation we are about to be slammed by the hardest times that any of us have ever experienced. If we care about those around us, we should be sounding the alarm.
Since 2009, I have published 1,211 articles on the coming economic collapse on my website. Some people assume that I must be filled with worry, bitterness and fear because I am constantly dealing with such deeply disturbing issues.
But that is not the case at all.
There is nothing that I lose sleep over, and I don’t spend my time worrying about anything. Yes, my analysis of the global financial system has completely convinced me that an absolutely horrific economic collapse is in our future. But understanding what is happening helps me to calmly make plans for the years ahead, and working hard to prepare for what is coming gives me hope that my family and I will be able to weather the storm.
I do not believe in living my life in a state of fear, and I do not want anything that I write to ever cause fear in my readers. The ancient Hebrew greeting “Shalom” is roughly translated as “peace” or “completeness”, and that is what we are constantly pursuing in my household. My wife and I know that incredibly challenging times are coming, but we also know who we are, what our purpose is, and where we are headed. We also believe that the greatest chapters of our lives are ahead even in the midst of all the chaos that is coming.
When times are the darkest, that is when light is needed the most. Just think about it. When you look back over history, what heroes do you admire the most? If you truly think about it, almost all of those heroes arose during times of great adversity and conflict.
The years ahead can be a time of great adventure for you, or they can seem like hell on Earth. It all depends on how you respond to your circumstances.
Do you want to know who is going to respond to the years ahead with fear, panic and depression?
The millions of people that have absolutely no idea what is coming and have made absolutely no preparations are going to be absolutely blindsided by the coming economic collapse. Just like the 1930s, we are going to see people jumping out of windows and jumping in front of trains. Others will sink into a state of despair so deep that nobody will ever be able to shake them out of it.
It doesn’t have to be that way.
Over the past five years I have spent thousands of hours studying the coming economic collapse. In my articles you can find tens of thousands of facts and statistics that prove that the U.S. economy is hurtling toward oblivion.
It is not always the most pleasant thing to write about, but it is the truth. And that is what matters. If you believe that I am wrong, prove it to me. I work very hard to put out the most accurate information that I possibly can. So if you can prove that I am wrong, I will change my mind.
But of course that is not going to happen. As I have stated previously, anyone with half a brain should be able to see that we are living in the greatest debt bubble in human history. Anyone with half a brain should be able to see that the “too big to fail” banks are being extraordinarily reckless (derivatives, etc.). Anyone with half a brain should be able to see that our formerly great manufacturing cities are being transformed into crime-infested hellholes. Anyone with half a brain should be able to see that the middle class is dying. Anyone with half a brain should be able to see that the exact same patterns that led up to the great financial crisis of 2008 are happening again. Anyone with half a brain should be able to see that we simply cannot consume far more wealth than we produce as a nation indefinitely. Anyone with half a brain should be able to see that the incredibly foolish decisions that our politicians have been making for decades have placed us on a road to utter disaster.
So it doesn’t take anyone special to do what I am doing. I am just a “watchman on the wall” sounding the alarm the best that I can. And there are lots of others that are doing the same thing. We are deeply concerned about where this nation is heading, and we have been pleading with our leaders to do something about it for a long time but they have not listened to us.
Since our leaders just continue doing “business as usual”, there is not going to be a solution to our problems on the national level.
So that is why I am encouraging people to get prepared for the hard times that are coming on a family level and a community level.
Unfortunately, it seems like some people always have an excuse for not getting prepared. In fact, a few have even gone so far as to accuse me of being “anti-faith” for suggesting that people actually get off their couches and do something to help their families deal with the nightmare on the horizon. They seem to have the attitude that we should all just sit back and wait for God to do everything for us.
So I am not quite sure why those people get up in the morning and go to work, since they should just “trust God” to deposit paychecks into their banks. And I am not quite sure why they ever fill up the tanks of their vehicles with gasoline, because they should be able to “trust God” to put more gas there when they need it.
I covered all of this in much more detail in my previous article entitled “Is It ‘Anti-Faith’ To Prepare For The Coming Economic Collapse?”
For now, let me just state that what those people are suggesting is the exact opposite of what the Bible teaches. Trusting God is not about sitting back and doing nothing. In the Scriptures, we are told that faith is about stepping out and taking action on what God has revealed to us. That includes working hard, being wise and providing for our families. For example, just check out Proverbs 6:6-11…
Go to the ant, you sluggard! Consider her ways and be wise. Which, having no guide, overseer, or ruler, provides her bread in the summer, and gathers her food in the harvest.
How long will you sleep, O sluggard? When will you arise out of your sleep? Yet a little sleep, a little slumber, a little folding of the hands to sleep— so will your poverty come upon you like a stalker, and your need as an armed man.
In the end, each one of us needs to make the decisions that we feel are best for our own families.
So that is why it is so incredibly important not to let someone else do your thinking for you.
In America today, the average person watches 153 hours of television a month. In addition to that, we also spend countless hours watching movies, playing video games, listening to music, reading books and surfing the Internet.
What most Americans don’t realize is that there are just six giant corporations that control almost all of that content, and that makes them immensely powerful.
These giant media corporations are constantly manipulating our attitudes, opinions and beliefs. And at this point most Americans seem quite content to remain “plugged into the matrix” and to allow corrupt corporate executives somewhere to do their thinking for them.
I urge you to break free from that system.
Do your own research and do your own thinking.
Don’t take what I say or what anyone else says as truth without critically examining it yourself. This can be difficult at first, because in this nation our young people are no longer trained to think critically. Instead, we are trained to just blindly accept whatever information the system feeds us.
George Orwell once said that “during times of universal deceit, telling the truth becomes a revolutionary act“.
That perfectly describes the era that we are currently living in.
The truth does not bring fear and despair.
Rather, the truth brings hope and it sets people free.
Share the truth with as many people as you can, because we live in a world that desperately needs it.
by Michael Snyder | Economic Collapse
38 Comments on "There Is Hope In Understanding That A Great Economic Collapse Is Coming"
Northwest Resident on Thu, 18th Dec 2014 1:51 pm
Over Thanksgiving holiday I was at my brother’s place for his best turkey dinner, which is always good. As usual, at least since I “became aware” of the Peak Oil and impending collapse about a year and a half ago, we discussed prepping and current events and tried to fathom the hidden meanings. On my way out, my brother made a comment I can’t remember, to which I replied “at least we’re prepared.” And my brother said, “We are MENTALLY prepared, which is most important of all.”
I think that is really true. People getting blindsided by anything are prone to panic, terror and all kinds of irrational reactive response behaviors. KNOWING what is coming, recognizing the signals, realizing what is happening is critical to survival in the future we are heading into.
I really liked this article. It says a lot of true things that people need to come to grips with.
But, unfortunately, as we all know, the majority of people out there are not only NOT going to be psychologically/mentally prepared for what will eventually hit us, they are mentally resistant to even contemplating a future that so disrupts their secure “reality”.
In other words, you can lay the facts on the table before your average Joe, and he’ll walk away shaking his head and never be able to fathom the unthinkable possibility that everything he knows and has come to depend on not only can but probably will evaporate in a very short timeframe once collapse really gets going.
It is just too much for most people to handle.
Apneaman on Thu, 18th Dec 2014 2:54 pm
“We are MENTALLY prepared, which is most important of all.”
You brother is wise.
I think Michael Snyder means well but I would just like to say Fuck Hope! It’s been a cultural poison.
J-Gav on Thu, 18th Dec 2014 3:02 pm
There is some wisdom in this article and NWR is right in my view that it really is too much for most people to handle.
The wisdom? Psychological preparation is important. Community and local development is fundamental. And don’t lose any sleep over it either, if possible.
What I would take issue with is presenting our situation in a “hope vs despair” framework. Hope as in ‘Santa Claus,’ ‘The tooth fairy,’ my pay raise, the afterlife and/or the rapture?
Much too vague a word for me to be able to come terms with it. As William of Orange said during the very long liberation struggle of the Netherlands against the Spanish Empire: “Hope is not necessary where there is perseverance.” But so many out there are still in the “Oh please Mister Somebody smarter than me, give me some hope!” mode.
That doesn’t mean we shouldn’t listen to music, sing, dance, write poetry etc when we are lucky enough to get the chance. In fact, maybe those are the true wellsprings of what people usually call “hope.”
Then there’s the “despair” side. I can quote Orwell too (from memory but essentially faithful): “If you want a clear picture of our future, imagine a military boot stamping on a human face … forever.” No magic wand will make the darker aspects of our nature (and thus our history) suddenly disappear.
Where then is ‘real’ wisdom to be found? For better or worse, it seems to be on a ‘one-at-a-time’ basis, though a positive ‘contagion’ is no doubt, at least in principle, a possibility. In any case, there probably aren’t enough viable bridges extant for everybody to jump off without collapsing them.
paulo1 on Thu, 18th Dec 2014 3:12 pm
To be honest, I don’t know how well prepared any of us are? Most of you have heard a few prep details my wife and I have made over the years, but when circumstances really force society to her knees with decline, I don’t know about that kettle of fish? I am afraid of violence and social breakdown in cities, and the probable military response of the Govt. After that, who knows how it works out?
Every day I give thanks we still have some more of relative plenty, and time to prepare.
I still remain optimistic, despite so many looming challenges.
regards
GregT on Thu, 18th Dec 2014 3:20 pm
“We are MENTALLY prepared, which is most important of all.”
So true. Personally, I have gone through a bit of an emotional roller coaster ride over the past decade and a half. Trying to come to grips with our predicaments has been a challenge, to say the least. Glad I got that part over with. I can’t imagine how difficult it will be for most people, with no time to prepare, when their perceptions of reality come crashing down all around them, all at once. I expect to see suicide rates rise exponentially.
rockman on Thu, 18th Dec 2014 3:31 pm
This is a tad redundant from what I just posted in another thread but this looks like a good spot to see what y’all think. This might fall into the good news vs bad news category: The good news: the overall US economy might not be in for much worse time then we’ve been going through for the last 5 years. The bad news: the overall US economy, despite some of the numbers tossed out by some, really hasn’t improved that much since the 2008 “bump in the road”. IOW are these lower oil prices going to help many of the non-oil patch segments of the economy as some are beginning to speculate?
Obviously lower oil prices should be of a significant benefit to a number of different segments of the US economy. The next obvious point is how quickly will the US economy respond in a meaningful manner to lower oil prices. Given how related oil consumption (in particular motor fuel) is to economic growth it may serve as something of a surrogate. Not necessarily a 1:1 relationship but link on a significant level. So when the price of oil crashed from a yearly average price of $100/bbl in 2008 to $59/bbl for the entire year of 2009 one might think a 40% drop in price would spur the economy on and result in more consumption. Just as some think we’ll see an economic boost with this latest price plunge. IOW if the economy, though struggling, could afford X bopd in 2018 at $100/bbl it should have been able to consume as much or more at $59/bbl. But in 2008 the US consumed 7.12 billion bo and in 2019 consumed 6.85 billion bo. IOW the US consumed 270 million bbls of $59/bbl oil less than it consumed of $100/bbl oil. And the same picture with NG: the average price in 2008 was $7.97/mcf and in 2009 it was $3.67/mcf. Yet NG consumption fell in 2009 (though less than 2%) from the 2008 level: NG selling for half the price and US industries and consumers burned less?
In fact, the US has not consumed as much oil on a yearly basis since that peak in 2008. But we have had some economic recovery since 2008, right? That’s what the politicians keep telling us. But here’s the key question: what has been “helping” the US economy the most: lower oil prices or higher oil prices? Sounds like a dumb question, eh? Some analysis is starting to show up now that wasn’t being detailed much by the MSM or our politicians, both D’s and R’s. Here’s a taste of what is starting to surface:
“Texas has consistently outperformed the national economy in terms of job creation and rate of unemployment in every month since the advent of the Great Recession and the discovery of the Eagle Ford Shale play, both of which took place in October of 2008. Indeed, during the 24 month period from July 2009 through June of 2011, Texas created 49% of all new jobs created in the United States, and the vast majority of those jobs were either directly or indirectly the result of the state’s oil and natural gas boom”.
Let that soak in a minute: economic hell broke loose at the end of 2008 and knocked oil prices 40% lower then what consumers had been paying. NG sold for half the price in 2009 than it did in 2008. And yet the jobs created in the country over the following two years were from the industrial segment that one might think would have been hurt most by a drop in oil prices…and mostly just in one state…Texas? But if the country saw progressively lower unemployment since 2009 wouldn’t that have come mostly from those industry expanding thanks to lower energy costs?
“Direct employment in the oil and gas industry rose 40% from 2007 through 2013, as compared to a decline of about 3% in the overall U.S. economy.”
I would think that the increase in oil prices from 2009 until just a few months ago didn’t do anything the help any segments of the economy other than the oil patch. In fact, one would think it gradually inflicted more damage to the other segments for the last 5 years. Damage that was hidden by focusing on the entire US economy which was being boosted but mostly by the energy segment with much of that focused in just one state…Texas. IOW just how much has the non-oil patch segments of the economy improved since ’08?
So maybe the non-oil patch segments of the economy really didn’t recover as much as most folks were led to believe. And now the one segment that did see significant growth may turn to crap. So are we in the process of transitioning between a dynamic of slightly crappy non-oil patch segments combined with a strong oil patch segment to a dynamic of slightly crappy segments combined with a segment that may be about to turn real crappy?
Northwest Resident on Thu, 18th Dec 2014 3:51 pm
“IOW just how much has the non-oil patch segments of the economy improved since ’08?”
I remember reading an article not long ago on good ol’ ZH that struck me as being most likely derived from factual government data. And what that article pointed out is that a whopping majority of GDP (or was that GDP growth) since 2008 has been solely due to energy industry activity. The same article pointed out that those states where fracking was being done had gained substantial jobs, while all the other states had lost jobs. I guess that kind of answers the question, if those facts are accurate, and I suspect they are.
I believe, based on everything I read and all the information that I deem to be reliable, that it is a FACT that “the non-oil patch segments of the economy really didn’t recover as much as most folks were led to believe” — lead to believe by glowing government reports of economic growth, economic recovery, jobs growth, etc… It has all been spin and perception management — or manipulation — same thing.
I’m sure the propaganda machines will still be blasting feel good messages over loudspeakers on every corner of every street, even as the people are dying of starvation in the streets and the water coming out of faucets has a brownish color and a stinking odor, even as people scratch through the garbage dumps along with the dogs and the rats for whatever crumbs can be found, the propaganda machine will still be blaring “economic recovery is here, you’re doing just fine.”
Nony on Thu, 18th Dec 2014 3:52 pm
Rock:
The benefit is not so much in enabling more consumption (remember demand is relatively inelastic), but in that $$ in consumer’s pockets for spending on other things.
Remember how you made the points about how great things were for you, your buddies and your salary bonuses (and Houston real estate agents)? And that it was coming out of the pain of the rest of the country? Now, things have shifted. Power to the people!
😉
P.s. You were 67% right with your demand comments (X demand at current price, more than X at below it). But were wrong to say zero demand at above current price. This is a fundamental concept: “the demand curve”. [I hope your chemistry, calc, and trig are better than your econ…or I’m worried about the geology and production work you do.]
J-Gav on Thu, 18th Dec 2014 4:21 pm
Rockman – I’d call that a fairly honest assessment. What’s coming up next is anybody’s guess – well, not quite of course … What I mean is: when will the next upward bounce come and what will its effects be?
Nony on Thu, 18th Dec 2014 4:22 pm
BTW, “POD” done took a 50% haircut. 😉
ghung on Thu, 18th Dec 2014 4:47 pm
Rock, et al: Take out growth in the energy sector and trillions of dollars in QE, ZIRP, borrowing, what do we have? What percentage of what is really mediocre growth in the economy at large can be associated with (what I consider) forced growth in oil and gas,, and forced financialization? Most of it? All of it?
Let’s throw in $billions ($trillions?) of growing/unfunded liabilities, declining infrastructure,, (I could go on), this economic lull is nothing more than imagined growth; a bit like treading water while slowly burning whatever energy the body can muster as hypothermia sets in.
Suddenly we see things like this: Texas is in danger of a recession
http://money.cnn.com/2014/12/18/news/economy/texas-oil-recession/index.html?iid=HP_LN
How can this be?
Harquebus on Thu, 18th Dec 2014 4:55 pm
Winnie the Pooh: “Never underestimate the value of doing nothing.”
@Rockman: In case you did see a previous response.
Energy invested also includes, sustaining a workforce (food and water), housing, building and maintaining infrastructure, education, consumables, supporting industries etc., etc. Factoring the energy invested in the fields alone is excluding the most of the energy needed.
MSN Fanboy on Thu, 18th Dec 2014 5:12 pm
The last gasps of BAU will be shown by the oil price… swing up… swing down with periods of stability followed by rapid price change.
Each time it goes back up it will fail to reach as high as the previous peak, and each time it falls down it will exceed the previous trough, reflecting a declining average oil price… well according to shortonoil 😉 lol
I bet this behaviour continues until it cant lol… when the supermarkets are empty.
paulo1 on Thu, 18th Dec 2014 6:07 pm
Re: Rock’s “IOW are these lower oil prices going to help many of the non-oil patch segments of the economy as some are beginning to speculate?”
I went to town today and was pleased to see the price of regular at $1.08.9/litre. That is down close to 30 cents/litre in just a few months, or just down over $1.00 per US gal. I bought $50 worth of metric stores; M6 and M8 bolts, washers, nuts, etc. I needed them after robbing bolts and screws off my tractor to rebuild my ct110 mc. I bought a new battery and ordered a new front tire. The point of all this is that I would have bought this stuff if gas was $2.50/litre. It didn’t matter. I did a few other errands, saw my mom in hospital etc and finished up at the grocery store where I bought exactly what I needed and nothing more. I was really tired and needed a caffeine jolt but said to myself, “screw Starbucks, I’m sick of paying $2.50 for a cup of coffee. I’ll wait until I get home”.
I didn’t buy one thing else because gas was cheaper. Why would I? If I were to buy a new car, which I am not, would I buy a gas guzzler? No. Who would do this? Is anyone so stupid they would buy a bigger car because gas is cheaper? But even if they did, it wouldn’t add dick to the economy. All they would do is just waste more fuel and spend the same as before.
No, I don’t think cheaper gas will promote a buying frenzy, or even boost consumption in other products one iota.
Some prep news to share. So, I reworked and tidied up a mint 1979 Trail 90 which I gave to my wife about 10 years ago. It had been in storage since 05, and it took a lot of work and parts to restore it. It has just 2300 km on it and now runs like a sewing machine. She will use it to visit friends in the valley, go mushrooming, etc instead of using the Yaris. I have just finished rebuilding my ’81 Trail (ct 110) Honda, basically a ‘postie’, but with the low range transfer case. It has just 8,000 km on it. It also runs like a sewing machine. I have just ordered a new seat, a buddy seat, new mirrors, etc and plan to use it for personal transport as well as for hunting and fishing, etc. I am constructing a carrying panier for groceries which will be removeable when not needed. I plan to use it to go to town on nice days when necessary. On shitty days or when it is icy I will use the Yaris. The bikes get insane mileage and when I calculate exactly what it is I will post it. They are easy to work on, there are lots of parts around, and they have actually appreciated in value since I bought them 11 years ago because they are collector items and have a real ‘nutjob’ following. I had planned to get a new bike this summer, an xt250, but the redone 110 is so much fun I will simply keep the money in the bank instead of spending it. I’m not much good for the economy, I guess.
cheers
Makati1 on Thu, 18th Dec 2014 7:18 pm
“…The years ahead can be a time of great adventure for you, or they can seem like hell on Earth. It all depends on how you respond to your circumstances…”
I am enjoying that great adventure right now. Sure, I have concerns for my family, but my kids are all married and able to take care of themselves. I advise them, but I cannot force them to prepare. Some are, some maybe not. Their decision. I don’t worry about it as I do not worry about anything I do not control.
I spend my time studying current events and trying to see which way the species is headed so I can ease my future pain as much as possible. I am doing that in a country that is better prepared to ride out the storm than my old one. Some disagree, but that is their problem, not mine.
“I would rather live surrounded by the exciting chaos of birth that is Asia, than the struggling chaos of death that is the West.” That sums up my feelings pretty well. Time to go down by the pool and read a good book. It’s a beautiful sunny 83F day here in Makati. I’m enjoying the city for a while longer, but look forward to the days on the farm coming soon. Cheers!
GregT on Thu, 18th Dec 2014 7:55 pm
Great work with the old Hondas Paulo. I’ve been keeping my eyes out for an XL 125 in good shape. I figure it will be my main form of transport when I move your way this summer.
Perk Earl on Thu, 18th Dec 2014 8:07 pm
Speaking of the coming collapse, look what also got tossed into the 1.1 trillion budget:
http://money.cnn.com/2014/12/12/retirement/pension-cuts/
Congress approves plan to allow pension cuts
December 14, 2014: 12:21 AM ET
“More than a million retired and current truck drivers, construction workers and other union workers could see their pension benefits cut now that Congress passed a proposal aimed at shoring up some of the nation’s biggest pensions.
Tacked on as an amendment to the government’s $1.1 trillion spending bill, the proposal was approved by the Senate late Saturday night.
The Congressional proposal would allow plans that are projected to run out of money in the next 10 to 20 years to cut the benefits they pay to both current and future retirees. Benefits would not be cut for disabled pensioners or those 80 years and older, while cuts would be lessened for those between 75 and 80.”
That is another milestone that on the way to collapse things we think are guaranteed, like pensions, are not. I passed a TV while shopping today in which Bernie Saunders was on the ED Show and he as talking about this bill that passed. Obama evidently just grabbed his pen and signed, pensioners be damned.
Davy on Thu, 18th Dec 2014 8:35 pm
Perk, Pensions are little different from the wealth of the HNW individuals. The amount of wealth has little relation to physical reality. Physical wealth is what will matter. Some of these HNW individuals are prepared for the rendering of the digital to a physical but the degree of the reduction to get to a realistic physical is dramatic. Pensions will evaporate as the economy drops and the companies bankrupt. It will be stunning the speed and the degree of the wealth decay. We know these individuals and the pension funds will be bled because the poor and what is left of the middle class have little digital blood remaining. At some point the HNW individuals will have to bail in to bail out. That is a snake eating its tail. We will soon hear the squeal of the rich. They will be gnashing their teeth in disbelief.
Plantagenet on Thu, 18th Dec 2014 9:36 pm
As long as global oil supplies continue to grow we’ll see global GDP growing as well. The current glut in oil supplies is definitely NOT an indicator of peak oil
dubya on Thu, 18th Dec 2014 10:05 pm
Hey Plantagetnet:
This is a serious question – how do I find out what the actual number attached to the expression “glut in oil supplies”? The expression is occasionally used but I would like to know if there is a real statistic.
Davy on Thu, 18th Dec 2014 10:17 pm
Planter, sorry, friend you missed the announcement. It has been determined that GDP growth and oil supply growth are no longer coupled. From this point onwards oil gluts are from stalled debt growth not excess supply.
steve on Thu, 18th Dec 2014 11:09 pm
Dubya that is a good point,,, I hear that being the meme on MSM and I would also like to hear the numbers…In fact I hear it so often that I would have to say there is actually a conspiracy to make the masses believe this…
Northwest Resident on Fri, 19th Dec 2014 12:25 am
steve, dubya, I asked that exact same question when the whole “oil glut” non-explanation started circling through the media and a few posters started repeating it as a valid reason for falling oil prices on this forum.
No answer then. No answer now. From anybody.
The volume of “the glut” is unknown — as far as I can tell. I can’t find any estimates on how large “the glut” is, or where that “glut” is being stored. I heard they had some full tankers floating off China, but whether or not that is true I have no idea.
Most likely, “The Glut” is a lie created by some very clever propagandists and pumped through media channels with the sole intent of pacifying and misleading the masses.
That one or two of our regular posters on this board continue to re-promote that lie here indicates that they are either extremely dense, or they have an agenda.
The real reason for falling oil prices is obviously demand destruction brought on by the exact reasons that shortonoil talks about. But that concept is too difficult to understand and too threatening to the masses, so the power behind the curtain sticks with a simple “oil glut”. That, and “Saudi Arabia trying to put American shale out of business”, and “Obama is personally out to destroy the American oil industry”, and “the real goal is to destroy Russia’s economy.”
All misdirection, all lies, all the time, echoing infinitely across the media channels. All the better to keep people calm and unaware of the real threats creeping up on us.
Makati1 on Fri, 19th Dec 2014 2:10 am
It is simple… “You couldn’t handle the truth!” … to quote a famous movie line.
I’m not sure anyone knows the answer. The world has become a very very very complicated web. Beyond the ability of any one group to totally understand it, no matter what they say. The US seems to be blundering all around the world and losing ground with every step. They cannot even keep their lies straight anymore, as is obvious every time O opens his mouth. Only the Chinese had the intelligence and power to laugh at him when he spoke in Beijing.
Mark Ziegler on Fri, 19th Dec 2014 5:22 am
One must remember an oil drilling job is a temporary job. Ask any CEO what is a temporary job and he may not say his people have temporary jobs.
When it comes down to brass tacks he may have 10’s of thousands of temporary jobs. He just won’t admit it.
cybersleauth
Dredd on Fri, 19th Dec 2014 6:47 am
Perhaps that is why you who have pensions have been drafted.
You are to be $good soldiers$ who do not whine when your overlords decide to cut your pensions.
Yes, if pension fund trustees get worried about potential financial problems you will become the lite brigade and be charged.
You will $sacrifice$ up to 60% of your pension for the good of the Plunder Barons (The Matrix of Plunder – 3).
Makati1 on Fri, 19th Dec 2014 6:49 am
Most jobs are temporary, unless you are a doctor or of similar profession that is always in demand. Everything else is blowin’ in the wind.
Lawfish on Fri, 19th Dec 2014 8:50 am
I ordinarily don’t comment on political posts on social media, but yesterday, someone posted this inane thing from Occupy Democrats that said:
Only President Obama could bring gas down to $2.50, end two wars, get Bin Laden, bring unemployment below 6%, double the stock market, cut the deficit by 2/3, and still be told he’s failing as president. So I posted this:
I find it interesting that the president is credited with so many things that he has no control over. The rout in the oil market is a result of Saudi Arabia breaking from OPEC and refusing to cut production. Enjoy the cheap gas while it lasts because it should last just long enough to bankrupt all the fracking companies who are only profitable with oil above $80/barrel. When all the debt that was piled up to finance that ponzi scheme goes sour, not only will we have lost the 3 MBPD of
Production but our financial markets will be devastated.
Cutting the deficit? Only in this country could we celebrate a reduction in the amount we are spending that we don’t have. $18 trillion in debt cannot ever and will not be repaid. We’re screwed. And we’d be in the same boat with a red shirt in the oval office.
Unemployment? Sorry but 96,000,000 Americans with no job at all is not 5.8% unemployment. Again, same story with a red shirt.
I refuse to vote democrat or republican any more. As Lewis Black says, “our two party system is a steaming bowl full of shit sitting in front of a mirror.”
So this guy I’ve never met posts this:
[Lawfish], are you comfortable including 10+ million high schoolers, 20+ million college students, 12+ million stay-at-home parents, and 40+ million 65+-yr-old retirees in your “honest” unemployment number? My 92 year old grandmother is counted in your number, but she’s not really unemployed, is she? How about the junior sitting in geometry class, right now, who has cheerleading practice after school? Is she unemployed? Or my friend’s wife, who stays home to take care of their 3 kids? Is it fair to count her as unemployed? Wouldn’t a number that includes only those people who are of working age, but not working, AND who are legitimately looking for a job be a more honest representation of people who are not working because there are no jobs? I think so. So do economists and other thinking people. If you are willing to cite such misleading stats, why should I take you seriously on any of the other topics?
Will you admit that, while the president has only limited influence over some of these things (e.g. gas prices), he (especially the current one) certainly gets blamed for them when they go bad? And because Obama has been blamed for gas prices being high, the debt and deficit increasing, and unemployment being high, isn’t it important that the truth is the opposite? Isn’t that really the point of this post?
What does spending money “we don’t have” mean? Are you arguing that the country should never run a deficit? Even if we can borrow cheaply and earn a decent return on the money we borrowed? Where we believe that the economy will be stronger in the future, especially (only?) if we invest more, now? Never?
I might be willing to accept some of your and Lewis Black’s complaints regarding the two party system, but your facts/arguments are steaming a lot worse than any of the stuff coming from at least one of those parties (I hear your facts/arguments coming from the GOP or people who claim to be unaffiliated, but who conveniently argue in line with the GOP and get their facts from blatantly right-leaning sources).
Some people will simply never open their eyes. BAU is all they’ve ever known. I hope this guy gets a good slap in the face when it all falls down.
steve on Fri, 19th Dec 2014 9:45 am
Well to be fair northwest from the surface the dribble that main street is reporting looks correct….simple supply and demand…it is when you look deeper you see the scary horrifying truth….Gail the Actuary has also done a good synopsis of scaling this out….
steve on Fri, 19th Dec 2014 9:48 am
I have been to some public talks given by former high level people and have tried to ask poignant questions about this and they will not let questions be asked and they all stick to the same script when it comes to oil…no room for discussion….Am I the only one who is not an alien on this planet?
Northwest Resident on Fri, 19th Dec 2014 10:38 am
News Flash! Location of “oil glut” storage finally revealed!!
I saw a intriguing title on Yahoo during my quick first-of-the-morning scan of what passes for news these days. The title wording indicated that the “oil glut” — all that excess oil that nobody wants to buy even at dirt cheap prices because they already have all that they need — storage facilities were being expanded to store even MORE of the excess oil being produced.
I looked at the source of the linked title and it was some no-name website that I had never seen before. I clicked on the link, very interested to read the article, but got a “dead link” — HTTP 404 error — not found.
I see this all the time on Yahoo. Major propaganda points boldly displayed in linked titles on Yahoo main page that disappear when you do a page reload or, if you are quick and manage to click the link, there is no article there at all. It was, and is, just bullshit passing as news.
But here’s an article regarding “oil glut” that I found on Yahoo, direct from Reuters:
Oil rallies over $60, heads for 4th weekly fall on glut
“…a huge global overhang of supply…”.
Then, I did a search on google “where is the oil glut stored”. I got links to several articles from nasdaq.com indicating that the “glut of oil” that is responsible for driving down world oil prices so dramatically is resulting in a “supply glut along the Gulf Coast, forcing oil into storage tanks”. I also saw links indicating that all the excess oil is being stored in tankers — they’re just out there floating around somewhere, brim full of oil that nobody wants to buy.
Regarding “oil glut”, here’s an interesting article:
Is The ‘Oil Glut’ A Myth?
“The phrase “oil glut,” as it relates to the current situation in the market, has been used by financial and general interest media in the past two months so frequently that one may get an impression that it represents a generally accepted explanation of the recent oil price collapse. At a closer examination, one might discover that the term conveys a somewhat distorted picture of the current dynamics in the oil market.”
http://seekingalpha.com/article/2765025-is-the-oil-glut-a-myth
Oil glut. My ass.
Apneaman on Fri, 19th Dec 2014 11:23 am
Northwest
Fergetabout yahoo. This farmer has done much of the sifting for you.
http://ricefarmer.blogspot.ca/
If you check the left hand column on xraymike79’s site, you’ll never want for non-MSM stories, sources, studies, videos, pod-casts. In addition, he is regularly adding links within the comments thread and so are many commenter’s. He features a lot of dystopian graphic art, but don’t let that put you off. It’s one of the best and most through doomer sites I have come across.
http://collapseofindustrialcivilization.com/
Northwest Resident on Fri, 19th Dec 2014 11:33 am
Apneaman — Thanks for that link. I’m checking it out now. But I’ll continue to scan Yahoo for “news” articles, regularly. Reason why is I want to stay current on what propaganda and lies are being daily spewed upon the masses, which gives me insight into what the power behind the curtain is really up to. If you know for a fact that somebody is lying to you, and if you can figure out WHY that somebody is trying to stuff a certain lie down your throat, then it may be possible to decipher the reasoning/intent behind that particular lie. Well, that’s the theory anyway.
J-Gav on Fri, 19th Dec 2014 12:18 pm
NWR – True – I haven’t counted on Yahoo for valid news for some time.
Makati – Complexity is now “Beyond the ability of any one group …” Can’t disagree with that. But they’ll still pretend they’ve got a handle on things for the obvious political reasons.
Apneaman on Fri, 19th Dec 2014 1:30 pm
I operate on that same theory too, NW. Read between the lines/lies.
John on Fri, 19th Dec 2014 4:05 pm
I truly hate Snyder. He’s a self-promoting fool. I like absolutely nothing that he writes. If the article says “Snyder”, it’s crap.
Most of his content is stolen, taken from other sites, other authors. He offers nothing original, no insights, no knowledge, no wisdom, just the same fear-mongering useless pablum that is so prevalent today.
Snyder can shove his brand of bullshit up his ass. He’s never offered anything of substance.
Since 1998, I’ve published over 10,000 articles on collapse – but I don’t go around bragging about it as if this is any sort of accomplishment. Snyder is always trying to convince his readership how great he is.
Not. He’s a shitty writer / researcher and only shitty writers have to remind us how great they are.
Makati1 on Fri, 19th Dec 2014 6:57 pm
Lawfish, I think he is going to get more than a slap. Maybe a fatal heart attack. But, he will have millions of fellow fatalities when the shock hits.
I read MSM news only to get contrast. I just assume EVERYTHING I read has some spin. But the stuff coming out of the US Ministry of Propaganda has hit hurricane velocity. Even the Prez cannot keep his lies straight.
steve on Fri, 19th Dec 2014 10:26 pm
For example?