[KaiserJeep]

I'm not sure whether oil has peaked, is peaking, or will peak in the future - there seems to be a lot of opinions on this topic, all different.

But I am sure the World is not having an economic bubble, we are still in the doldrums. I never was one to believe that the DJIA or similar indicators mean anything in particular.

[ROCKMAN]

KJ - Which is exactly why I occasionally get on my soap box an bitch about this obsession with the PO date and whether we passed it already, are there now or if it's still ahead of us. The relationship between oil prices, availability, economy stability, geopolitical and military adventures, etc. is a dynamic and evolving relationship. I don't need to decide if global PO happened in 2005 or will happen in 2025 . What I o need to do is appreciate the complex feedback loops of the system. I would think most here now appreciate the complex nature of our energy resource predicament.

[ralfy]

$this->bbcode_second_pass_quote('KaiserJeep', 'I')'m not sure whether oil has peaked, is peaking, or will peak in the future - there seems to be a lot of opinions on this topic, all different.

But I am sure the World is not having an economic bubble, we are still in the doldrums. I never was one to believe that the DJIA or similar indicators mean anything in particular.

[ROCKMAN]

ralfy - Good point. That change in per capita consumption wasn't very critical for the US and other industrialized economies some decades ago: we were the "haves" and it was more of a problem for the "have-nots". But now some of the have-nots are flexing their new economic powers and are taking away "our" oil. And given the huge number of have-nots in the world it takes only a very small change in their per person consumption to make a big change in absolute volume.

[americandream]

Ordinarily, if someone casts a covetous eye over your property, it is a criminal offence. Yet the logic of capital being what it is, these rules do not apply where resourcing this system is concerned. With the consequence that once the low wage economies (whose ruling classes it must be said are equally complicitious as regards these lop sided resourcing arrangements, an example being the bogus communists in China) no longer serve a useful purpose, the ensuing conflict over the remaining crumbs will be epic.

$this->bbcode_second_pass_quote('ROCKMAN', 'r')alfy - Good point. That change in per capita consumption wasn't very critical for the US and other industrialized economies some decades ago: we were the "haves" and it was more of a problem for the "have-nots". But now some of the have-nots are flexing their new economic powers and are taking away "our" oil. And given the huge number of have-nots in the world it takes only a very small change in their per person consumption to make a big change in absolute volume.

[Timo]

$this->bbcode_second_pass_quote('americandream', 'O')rdinarily, if someone casts a covetous eye over your property, it is a criminal offence.

[americandream]

Linguistic licence was used to make that point, elegantly I had hoped. Nonetheless, the global system uses a variety of methods, universally dimly viewed in our various national criminal codes, which possibly accounts for the unconventional methods used within the financial system.

The point being that when the rationale for capitalist co-operation worldwide evaporates, we shall see their true colours....Iraq was something of a sampler.

$this->bbcode_second_pass_quote('Timo', '')$this->bbcode_second_pass_quote('americandream', 'O')rdinarily, if someone casts a covetous eye over your property, it is a criminal offence.

[ralfy]

$this->bbcode_second_pass_quote('americandream', 'O')rdinarily, if someone casts a covetous eye over your property, it is a criminal offence. Yet the logic of capital being what it is, these rules do not apply where resourcing this system is concerned. With the consequence that once the low wage economies (whose ruling classes it must be said are equally complicitious as regards these lop sided resourcing arrangements, an example being the bogus communists in China) no longer serve a useful purpose, the ensuing conflict over the remaining crumbs will be epic.

$this->bbcode_second_pass_quote('ROCKMAN', 'r')alfy - Good point. That change in per capita consumption wasn't very critical for the US and other industrialized economies some decades ago: we were the "haves" and it was more of a problem for the "have-nots". But now some of the have-nots are flexing their new economic powers and are taking away "our" oil. And given the huge number of have-nots in the world it takes only a very small change in their per person consumption to make a big change in absolute volume.