[seenmostofit]

$this->bbcode_second_pass_quote('Plantagenet', ' ')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

[Plantagenet]

$this->bbcode_second_pass_quote('seenmostofit', 'C')linton started this bubble, George kept it going and it started to crash under him, and now Obama is making sure we don't face the issue squarely and certainly won't recover from it under his enlightened leadership.

[davep]

Err, didn't Thatcher and Reagan start the whole bank deregulation thing?

[Plantagenet]

There is plenty of blame to go around, but the most important bank deregulation was the repeal of the Glass-Stegall act that had been in place since FDR's bank reforms during the Great Repression. Glass Stegall was repealed on Clinton's watch.

Glass-Steagall “repeal” and the financial crisis

Robert Kuttner, Joseph Stiglitz, Elizabeth Warren, Robert Weissman, and others have tied Glass-Steagall repeal to the late-2000s financial crisis. Kuttner acknowledged “de facto enroads” before Glass-Steagall “repeal” but argued the GLBA’s “repeal” had permitted “super-banks” to “re-enact the same kinds of structural conflicts of interest that were endemic in the 1920s”, which he characterized as “lending to speculators, packaging and securitizing credits and then selling them off, wholesale or retail, and extracting fees at every step along the way.”[6] Stiglitz argued “the most important consequence of Glass-Steagall repeal” was in changing the culture of commercial banking so that the “bigger risk” culture of investment banking “came out on top.”[7] He also argued the GLBA “created ever larger banks that were too big to be allowed to fail”, which “provided incentives for excessive risk taking.”[395] Warren explained Glass-Steagall had kept banks from doing “crazy things.” She credited FDIC insurance, the Glass-Steagall separation of investment banking, and SEC regulations as providing “50 years without a crisis” and argued that crises returned in the 1980s with the “pulling away of the threads” of regulation.[8] Weissman agrees with Stiglitz that the “most important effect” of Glass-Steagall “repeal” was to “change the culture of commercial banking to emulate Wall Street's high-risk speculative betting approach.”[396]


--Wikipedia

[2cher]

JS is right... I was one of the original 100 on this site. Was on here for four years and left. Came back a long time ago could remember my password so I started using this account. The fact are simple, the world has finite amount of oil, and you all have an infinite amount of scaredy Text deleted

I recognize a few of you lazy text deleted worthless text deleted from back in my old days. Still attacking anyone who doesn't worship at the same ground you do. Every year releasing and claiming a new end of the world scenario, each year being proven wrong. You are no different than religious zealot doomsayers who each year claim Jebus is coming.

The fact is every year you are wrong with your predictions. Every year you will be wrong. The world will run out of oil, but I will be long dead before than happens. There is always going to be some big disaster over the horizon. Shut up live your text deleted lives and stop with this text deleted doomsday prophesy s***.

[Ferretlover]

2cher: Public suggestion: Don't take your fear out on the board's posters. If you are uncomfortable discussing this aspect of reality, pick another topic--or, another website.
Thank you for your interest in PeakOil.com.

[AirlinePilot]

2cher,

I'd suggest that the majority of us here are very concerned about PO. We are not fast crash doomers, nor do we make yearly predictions of catastrophe. Thats pure hyperbole and unsupported conjecture on your part. I will freely admit that at first I thought things might unfold on a faster time line, and agree that things are not at any dire level. Reality will be ugly enough. I'm more a "long emergency" type and plan accordingly.

That being said, I am also not blind to the changes we have lived through over the last several years. For me at this point in time, PO is alive and well. We are living through SERIOUS economic upheaval, despite cornucopian denial . Some of that is due to Peak oil. I can only look back over the last two to three years and say that everything which the more realistic PO advocates predicted is unfolding before our very eyes. If you cannot see this then I'd say your not looking very hard. Either that or you are in denial.

At this point i think this site provides a good place for folks who want to learn, understand, and come to some sort of consensus on solutions. Its a clearing house for gathering and sharing ideas. Focusing on the smaller minority of "doomers" here is once again a common mis-characterization of what goes on here.

[ralfy]

The bubble might have started earlier, i.e., following the debt chart presented in this article:

"Krugman and the pied pipers of debt"

http://blogs.reuters.com/rolfe-winkler/ ... s-of-debt/