by Fergus » Tue 08 Aug 2006, 10:27:53
$this->bbcode_second_pass_quote('Pops', 'I')’m probably less pessimistic than I was originally but I’m not sure if it is because of what I’ve read, what I have done personally or how resilient the economy seems to be considering a 400% increase in oil price in just 4 years.
When I first started reading about PO around 5 years ago a barrel of oil was $20 and I imagined oil at $80 would mean huge unemployment at the vary least, I suppose sustained at or above that level it may still.
We may see $80 soon and I’m sure it is straining some budgets as it works its way through the economy, but there isn’t the drop in demand that I had thought would occur by this price. One talking head did say that in CA there was some sign of a reduction in demand last month with $3.50 a gallon for unleaded but that’s about it.
Yea there are resource wars and rumors of more; opening of protected areas to drilling and indications of delayed maintenance; signs of increasing inflation and trouble in real estate in commuter heavy markets (a combination that points to possible stagflation); people and the gov. are still increasing their debt loads; we are still converting fuel to food and in addition we are building plants as fast as possible to convert food to fuel.
All were predictable and widely predicted, but people continue apace.
Having written all that I’m really not sure why I’m not more pessimistic…
I concurr. We should be more alarmed I think, but with so much disinformation and flat out lies, that creates enough doubt, coupled with massive highway expansion here in Dallas, rocket shots to the stars. We see so much money and oil being wasted on things that would seem irrelivant to a future without oil.
One thing that screws me over is almost everyone says by 2050 oil will be in very very short supply. ok. So why build more highways if in 40 years no one can drive on them. Is our vision only a 5-10-20 year vision and outside of that we cant even consider things? SUV and big trucks from detroit keep rolling out like pple actually want these things? Environmental concerns are being waived to get to oil that we think is under pretty ground. Infact, did you know that Prez Bush recently removed the phrase 'Protect the earth' from nasa's mission statement. So they are no longer obliged to consider earths ecosphere while doing there business.
Its like the powers that be and the coprorate giants are totally oblivious to any impending doom. So how can one get so down when everyone is telling you to laugh and enjoy it. it makes it easy to say, well, maybe things aren't as bad as they seem. Maybe that is all part of their grand scheme. Lull the masses into complaciency and then hit em with an upper cut they will never see coming.
I agree, I think we should all be more pessimistic then we are, including the most pessimistic poster here. But to become to pessimistic could lead to bad things too. A life with no hope is a desperate and pathetic life.
Like all things, I suppose moderation in pessimism is a good thing.