by BobWallace » Tue 23 Oct 2007, 17:13:13
$this->bbcode_second_pass_quote('threadbear', 'W')allace, Just briefly...I'll respond more at length later. India is a third world country showing great growth, as it industrializes and modernizes, according to statistics. Those statistics don't account for the 2/3 of the population that are losing ground.
This is what the U.S will look like in the future, after going through an Argentina type ecomic collapse, the direct result of a credit freeze.
Everything is going to be more expensive, wages will not keep pace, the govt--eventually unable to borrow it's way out of past failures will rely on private equity corporations to finance their own new energy projects and infrastructure projects. In return for blatant oligopolic control and pricing --ie toll booths on roads, bridges, etc... they will see to it that bridges, roads, new sewer systems, are built. All of those dying dollars have to go somewhere.
New nuclear power facilities are a perfect case in point. High barrier to entry, crazy expensive to build. Without govt assurance that they will refrain from interferance as part of a pre-condition to building them, they won't be built. However, with people beginning to actually freeze to death, govt oversight and pricing controls will be very relaxed. When they are finished, the electrical bills to run cities and transport will more than double.
The upper layers of management, all of the engineers, IT upper crust, plus the professional class, will easily be able to afford the expense, as they will be compensated generously. What's left of the middle class and the poverty class will have a very hard time. So let's say, it'll be first world, for those who can afford it, and third world for everyone else.
The problem with your post is that you are making an assumption that things will go terribly. And that's only one of a couple of directions that things could head.
We could, for example, get busy and create a lot of wind, solar, storage, etc.
in country, reduce our trade inbalance, get truly cheap power, and be better off. Build a lot of robots to make stuff cheap and give it away.
That's the flip of what you suggest.
Or reality could be somewhere in between.
Just because you read somewhere that we
will crash does not make it so.
(BTW, been to India lately and seen how life is at the village level as opposed to 20 years ago? I have. Lately and 20 years ago.)