by aflurry » Mon 12 Nov 2007, 13:34:59
$this->bbcode_second_pass_quote('roccman', '
')...eat...put drugs in our body...play the victim...fuck...then die.
roccman, you are a funny dude.
where to i get one of those t-shirts?
i think maybe the price of oil has got some people discussing oil supplies in general. but i don't see anyone getting anything beyond and understanding that gas prices may go up.
at this stage i almost cannot understand any major political or economic event outside of the curve of oil production that corresponds to it.
i see it in the increasing debt load leveraging our economy, starting at just the point when per capital oil production plateaued. i see every bubble, whether in equities or debt/mortgages, to be an expression of the growth of that leverage which is underpinned by increasing scarcity of our major primary resource. i am spooked by FASB 157, and what it could do as a peephole into the real value of that debt.
i see the waves of privatization over the last 30 years to be a form kind of fracturing of the promise of the future that the mid-century fantasies of limitless energy maintained.
i see the peak in oil production to be about so much more that prices rising. i understand it as a major threshold that has the potential to invert much of the political and economic causality we see today. i kind of see it like the dew point where water changes state from gas to liquid, and all of its properties and behaviors change completely.
i am afraid that we have been able to leverage the ever decreasing rate of growth to a greater and greater degree as we have approached peak, but that peak represents an absolute limit on leverage, and even more ominous, perhaps a halt to our ability to levarage the economy in the way we currently do at all. and as soon as the peak is registered throughout the economy, all of the existing leverage will collapse, and the economy will very quickly shrink back to its "real" size, which is a small fraction of the current inflated beast.
it may be that this is all just my own personal paranoid fantasy, but i certainly don't see much of anyone getting it.
edit: well fuck a duck... Kunstler's rant of this morning has explained with far more coherence my fears of above:
http://jameshowardkunstler.typepad.com/ ... money.html