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I was a member of this forum in 2003/2004

General discussions of the systemic, societal and civilisational effects of depletion.

Re: I was a member of this forum in 2003/2004

Unread postby FatherOfTwo » Fri 15 Jun 2012, 13:32:15

Well Hello everyone, it's been 3 years since I've been on this site, (I joined in 04) and it's interesting seeing so many of the same players still here, Frank, spot5050, pstarr, Dezakin (the man who set me straight on nuclear energy) all the moderators of course. The threads have not changed much either, which is honestly a little surprising. I was hoping the site would have moderated a bit more than it has; true it isn't as tilted as it used to be, but it still seems to be attracting a heavy dose of fast-crash doomers who excel at "why we can't" and those who seem to crave a collapse of civilization. That said, the site is still an excellent treasure trove of discussion to read through and educate yourself.

$this->bbcode_second_pass_quote('Frank', 'I')'ve been a member for quite a few years also (late-2004) and although I've been following "energy" trends for 30 years I always think of Devil's position (remember him?). This was that although Peak Oil is captivating, the substantive issue in front of us is global warming/climate change. Mankind is rapidly and irreversibly changing the planet we live on. This is the real issue, not whether or not a few more years of liquid hydrocarbon production will extend the ride or not.

In the context of history, 10 or 20 years or a few generations is NOTHING!


Frank, I too remember Devil and I agree completely that this is the issue - mankind's voracious appetite for the earth's resources. Capitalism has clearly brought many good things to us, and clearly its been the best way to motivate people, but not having it incorporate the true costs of what nature gives us will be the most glaring mistake of the model. PeakOil is a side issue, although a large economic one at that. It's a multi-year or even decade long undulating plateau - look how oil and gas production are currently way up in the US significantly... alas, my poor, poor NG stocks! :P

It's now obvious (to me at least) that there are other energy sources that would be available enough in ample supply that they can significantly help the downward slide down the slope of oil. Yes, yes, scale out and all that - I'm familiar with the re-torts. Clearly we'll be scaling out during a time of economic upheaval etc. It's going to be painful.

The thing is, after all these years, after that initial freak out, my opinion remains the same - the best thing you can do is try to reduce your footprint, put yourself in the best economic position you can, and work for positive change towards a wholesale cultural change. My 2 girls are older now, we talk about the environment and I try to give them as even handed an explanation as I can. It is encouraging going to their school assemblies and seeing the heavy focus on the environment as it is setting a very good foundation for them - fortunately they are still young enough that they aren't yet aware of the scope of the problems that confront us. But these are the cards we've all been dealt in these lifetimes of ours, the question remains how are we going to play the game out. I for one hope that the positive approach is the one we most adopt.
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Re: I was a member of this forum in 2003/2004

Unread postby KingM » Fri 15 Jun 2012, 19:47:05

I went through many of the same things. I was never a hard core doomer, but I thought we were in for some very wrenching changes. Maybe we are, but I'm pretty sure we'll muddle through. In any event, the best evidence that Peak Oil has failed to materialize as a major issue is that this site remains moribund. If PO were upon us, this place would be flooded with hundreds of posters. It isn't.

Instead, there are some religious fanatics (PO being the religion), some PO atheists, and several of us who kick around because we come here to read about energy stuff and occasionally get sucked into discussions.
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Re: I was a member of this forum in 2003/2004

Unread postby KingM » Fri 15 Jun 2012, 19:53:06

$this->bbcode_second_pass_quote('AgentR11', '
')It's not pretty of course, the economy grinding down a hill, periodically smashing the breaks a bit hard, shedding jobs, shedding demand. Those in charge of the macro factors of the economy managing to keep the current dollar valuation of the economy slightly positive, thus preventing an economic apocalypse that would make Lehman look like cheese fries.


No it isn't. The global economy is over 70 trillion dollars now, almost double in real terms what it was in the year 2000. This has been one of the fastest growth periods in human history. The US and some other advanced economies have been more stagnant, but that's one (shrinking) part of the story.
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Re: I was a member of this forum in 2003/2004

Unread postby ralfy » Sat 16 Jun 2012, 10:16:16

$this->bbcode_second_pass_quote('KingM', 'I') went through many of the same things. I was never a hard core doomer, but I thought we were in for some very wrenching changes. Maybe we are, but I'm pretty sure we'll muddle through. In any event, the best evidence that Peak Oil has failed to materialize as a major issue is that this site remains moribund. If PO were upon us, this place would be flooded with hundreds of posters. It isn't.

Instead, there are some religious fanatics (PO being the religion), some PO atheists, and several of us who kick around because we come here to read about energy stuff and occasionally get sucked into discussions.


Peak oil materialized many times, with the U.S. in 1970 and around two-thirds of oil-producing countries today. Perhaps you are referring to a drop in global oil production. But BP and others are already showing signs leading to that. See http://ralfyman.blogspot.com for links to dozens of reports from various organizations, none of them "flooding" this forum.

Also, with a drop in oil production, rather than seeing this place "flooded with hundreds of posters," expect the opposite. The same thing goes with many of the reports referred to hardly mentioned in mainstream media.

Finally, fanaticism works both ways.
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Re: I was a member of this forum in 2003/2004

Unread postby ralfy » Sat 16 Jun 2012, 10:22:54

$this->bbcode_second_pass_quote('KingM', '
')
No it isn't. The global economy is over 70 trillion dollars now, almost double in real terms what it was in the year 2000. This has been one of the fastest growth periods in human history. The US and some other advanced economies have been more stagnant, but that's one (shrinking) part of the story.


But much of that amount is based on spending and debt. In fact, what backs that economy is more than a quadrillion dollars in total money supply, much of it consisting of unregulated derivatives, with most money consisting of numbers in accounts or contracts and hardly backed by physical assets.

Even G10 debt is roughly equivalent to that, and that debt is supposed to be used to cover more debt at ten times the amount:

"The real problem is that the $70 trillion in G10 debt is the collateral for $700 trillion in derivatives"

http://maxkeiser.com/2012/06/01/the-rea ... rivatives/

Fallout from 2008 started with only around a trillion of that, leading to something like 30 trillion dollars vaporized, and governments scrambling to bail out banks and investors. Behind that is conventional oil production barely rising, with increasing demand met with non-conventional sources, as reported by BP.
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Re: I was a member of this forum in 2003/2004

Unread postby KingM » Sat 16 Jun 2012, 15:21:34

$this->bbcode_second_pass_quote('ralfy', '')$this->bbcode_second_pass_quote('KingM', '
')
No it isn't. The global economy is over 70 trillion dollars now, almost double in real terms what it was in the year 2000. This has been one of the fastest growth periods in human history. The US and some other advanced economies have been more stagnant, but that's one (shrinking) part of the story.


But much of that amount is based on spending and debt. In fact, what backs that economy is more than a quadrillion dollars in total money supply, much of it consisting of unregulated derivatives, with most money consisting of numbers in accounts or contracts and hardly backed by physical assets.


What???

It's not like we owe that money to the Romulan Empire or something. The global economy is a closed system and net levels of debt are always zero. The output of goods and services has nearly doubled since 2000 in real terms. We are living (globally) in the most prosperous period in human history. The reason we think we're poor is because the US and some other formerly top economies have done worse compared to the global average.
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Re: I was a member of this forum in 2003/2004

Unread postby ralfy » Sun 17 Jun 2012, 10:11:06

$this->bbcode_second_pass_quote('KingM', '
')What???

It's not like we owe that money to the Romulan Empire or something. The global economy is a closed system and net levels of debt are always zero. The output of goods and services has nearly doubled since 2000 in real terms. We are living (globally) in the most prosperous period in human history. The reason we think we're poor is because the US and some other formerly top economies have done worse compared to the global average.


That real economy is not based on a barter system, and goods, physical assets, and resources are controlled by a minority and also use money to buy and sell these goods and services. That is why 15 pct of the world's population is responsible for more than 60 pct of personal consumption, why over 60 pct of the same population earn only around two dollars daily, and why the global economy is dominated by banks:

"Revealed – the capitalist network that runs the world"

http://www.newscientist.com/article/mg2 ... world.html

and why most human beings lack one or more basic needs, from running water to shelter.

And inasmuch as "the net levels of debt are always zero," very few are willing to walk away and forgive debt, especially an elite whose wealth consists mostly of the same, a middle class whose lifestyle is paid for with the same, military forces who require debt to pay for war costs, and so on.

Yes, it's nice to imagine some magnificent jubilee where all is forgiven and we can all sit down and get along. On the other hand....
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Re: I was a member of this forum in 2003/2004

Unread postby ColossalContrarian » Sun 17 Jun 2012, 13:19:35

In my opinion Peak Oil is still completely relevant (oil is the most used energy source in the world!) and what I've learned on this site over the years is that high oil/energy prices = recession/depression. The problem is that the oil industry can't keep up with the banking industry and you can't have fiat energy.
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Re: I was a member of this forum in 2003/2004

Unread postby seenmostofit » Sun 17 Jun 2012, 16:46:05

$this->bbcode_second_pass_quote('ralfy', '
')Yes, it's nice to imagine some magnificent jubilee where all is forgiven and we can all sit down and get along. On the other hand....


On the other hand....it is good to be on the side which wins such "not getting along" events. Let's face it, if push comes to shove, there will be winners and losers, and one side usually comes out of such events better off than the others.

Does it matter (for example) what the UK wants, in the greater scheme of things? Or New Zealand? Or most sub-Saharan Africa countries? What they want is commiserate with what they are capable of doing, "push come to shove" and all.
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Re: I was a member of this forum in 2003/2004

Unread postby Plantagenet » Sun 17 Jun 2012, 16:57:31

$this->bbcode_second_pass_quote('KingM', 'W')e are living (globally) in the most prosperous period in human history. The reason we think we're poor is because the US and some other formerly top economies have done worse compared to the global average..


Its not just an abstract feeling---poverty is fast becoming an American reality.

The average American family lost 40% of their total family wealth in just three years between 2007-2010. Continued declines in real estate have probably subtracted more wealth since then, and the economy is in another swoon now. Face facts: poverty rates are at record highs in the US, along with food-stamp use and prolonged unemployment. 8)
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Re: I was a member of this forum in 2003/2004

Unread postby seenmostofit » Sun 17 Jun 2012, 17:01:54

$this->bbcode_second_pass_quote('Plantagenet', '
')The average American family lost 40% of their total family wealth in just three years between 2007-2010. Continued declines in real estate have probably subtracted more wealth since then, and the economy is in another swoon now. Face facts: poverty rates are at record highs in the US, along with food-stamp use and prolonged unemployment. 8)


How much of that net worth reduction was related to paper losses in 401k/retirement accounts and decreasing property values? Most of it?

Which would be completely expected in an economic downturn caused by irrational exuberance in real estate and froth in the stock market? Not implying that either is bad, and certainly the "froth" in the stock market can be quite lucrative to those who noticed it prior to the crash.
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Re: I was a member of this forum in 2003/2004

Unread postby Plantagenet » Sun 17 Jun 2012, 18:53:57

$this->bbcode_second_pass_quote('seenmostofit', 'H')ow much of that net worth reduction was related to paper losses in 401k/retirement accounts and decreasing property values? Most of it?

Very little of the 40% decrease in average US family assets is due to paper losses in the stock market---the market has largely recovered its losses.

The main reason for the massive loss of wealth by American families is the drop in home equity values, together with job losses. When people lose their jobs, they lose their salary. And even folks who get rehired are losing ground---many are forced to settle for part time work. Average American salaries have dropped over the last four years---for those who can find work. 8)
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Re: I was a member of this forum in 2003/2004

Unread postby seenmostofit » Sun 17 Jun 2012, 20:42:25

$this->bbcode_second_pass_quote('Plantagenet', '
')The main reason for the massive loss of wealth by American families is the drop in home equity values, together with job losses. When people lose their jobs, they lose their salary. And even folks who get rehired are losing ground---many are forced to settle for part time work. Average American salaries have dropped over the last four years---for those who can find work. 8)


Net worth isn't all about salary though, unless of course people are liquidating assets once they lose their jobs, but the housing equity drops make perfect sense. Any stats on net worth drop by geographic area? Want to bet California, Vegas, Florida, Phoenix figured prominently in dragging down the average for the rest of America?
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Re: I was a member of this forum in 2003/2004

Unread postby Plantagenet » Sun 17 Jun 2012, 21:41:38

$this->bbcode_second_pass_quote('seenmostofit', '
')Net worth isn't all about salary though, unless of course people are liquidating assets once they lose their jobs...


Actually it is partly about salary. Folks lucky enough to get another job now almost always make less than they did before this jobless recovery-----US median incomes are down by about 8% since 2007 while net inflation is over 12% for the same time period, resulting in a ca. 20% loss of purchasing power for Americans.

US median incomes down by 8% over last four years

The high-paying jobs that obama promised to deliver in 2008 just haven't materialized---instead folks who lost their jobs are either mostly either still unemployed and in poverty (which remains at record high levels) or they are employed but are much poorer then they were prior to 2008---.
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Re: I was a member of this forum in 2003/2004

Unread postby Lore » Sun 17 Jun 2012, 21:46:42

$this->bbcode_second_pass_quote('Plantagenet', '
')The high-paying jobs that obama promised to deliver in 2008 just haven't materialized---instead folks who lost their jobs are either mostly either still unemployed and in poverty (which remains at record high levels) or they are employed but are much poorer then they were prior to 2008---.


What high-paying jobs did he promise? Got a direct quote on that?
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Re: I was a member of this forum in 2003/2004

Unread postby seenmostofit » Sun 17 Jun 2012, 23:10:21

$this->bbcode_second_pass_quote('Plantagenet', 'A')ctually it is partly about salary. Folks lucky enough to get another job now almost always make less than they did before this jobless recovery-----US median incomes are down by about 8% since 2007 while net inflation is over 12% for the same time period, resulting in a ca. 20% loss of purchasing power for Americans.

Again, this isn't really unexpected in a post recessionary period is it? There was a bubble, as with all bubbles (be it real estate or the current level of activity drilling wells in North Dakota) people are paid way more than they would for the same amount of work during a normal time.

So of course once the bubble deflates, predatory lender brokers are now forced to find honest jobs, and it turns out honest jobs don't pay as much as risking imprisonment by changing around the numbers on mortgage forms to entrap honest Americans wanting to participate in said bubble?
$this->bbcode_second_pass_quote('Plantagenet', 'T')he high-paying jobs that obama promised to deliver in 2008 just haven't materialized---instead folks who lost their jobs are either mostly either still unemployed and in poverty (which remains at record high levels) or they are employed but are much poorer then they were prior to 2008---.

Obama is a politician, so you know he is lying when his lips are moving. No different than his predecessors. Certainly unemployment is still high, but in part that is okay because some of those people were only worth hiring during a bubble, and would otherwise have been unemployable at their bubble sized salaries anyway. Let's face it, a breathing body which could speak English could get a job during the bubble times, and a little reality intruding on America in terms of employability is a good thing, long term.
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Re: I was a member of this forum in 2003/2004

Unread postby seenmostofit » Sun 17 Jun 2012, 23:24:24

$this->bbcode_second_pass_quote('Lore', 'W')hat high-paying jobs did he promise? Got a direct quote on that?

I think Obama did a great job, creating high priced jobs. I wonder if the people get paid as much as the job actually cost the rest of us? Blogspot
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Re: I was a member of this forum in 2003/2004

Unread postby Keith_McClary » Mon 18 Jun 2012, 00:27:32

$this->bbcode_second_pass_quote('seenmostofit', 'S')o of course once the bubble deflates, predatory lender brokers are now forced to find honest jobs, and it turns out honest jobs don't pay as much as risking imprisonment by changing around the numbers on mortgage forms to entrap honest Americans wanting to participate in said bubble?
More likely they will find other scams, not quite as lucrative. :lol:
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Re: I was a member of this forum in 2003/2004

Unread postby Plantagenet » Mon 18 Jun 2012, 00:31:54

$this->bbcode_second_pass_quote('seenmostofit', 'A')gain, this isn't really unexpected in a post recessionary period is it?

Actually, it is. Most recessions are followed by a period of very rapid economic growth during which the economy recovers the ground it lost during the recession as it resumes "normal" growth. The recovery that started in mid-2009 is remarkably weak ---- so weak that jobs, wages, housing prices, etc. etc. still haven't recovered. It is the weakest recovery in 70 years
current recovery is unusually weak
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Re: I was a member of this forum in 2003/2004

Unread postby seenmostofit » Mon 18 Jun 2012, 08:15:07

$this->bbcode_second_pass_quote('Keith_McClary', 'M')ore likely they will find other scams, not quite as lucrative. :lol:

That would imply a very poor opinion of the mortgage broker predatory lender types. I'll bet most of them were in it for the money, didn't mind winking at the law when needed, and after having their own lifestyles shut down by the housing crash, are now some of those UNDERemployed people, at least in their minds. Mortgage brokering wasn't a scam for the honest folks, and really still isn't, but there are just a lot fewer of them, and the dishonest ones hopefully took more of a employment hit than the dishonest ones.
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