by MrBean » Wed 19 Nov 2008, 19:24:45
$this->bbcode_second_pass_quote('Concerned1', 'S')ince people want to know what's going to happen in the future, I'll tell you. No, I'm not a psychic, far from it, but if anyone will just take a few minutes to look at things objectively, not through the lenses of what we want to happen, but what may come whether we like it or not, it's not too difficult to project the near future. Trends are the answer. Looking at past and current trends, barring some unforseen catastrophe (and there will be plenty of those - we are people after all), this is likely where the world will be in the next couple of years:
Things will go on, at least in the near term, pretty much as they've always gone on. It is a downward trend, yes, but a slow decline. SSDD.
About oil, even if there is a peak in the production of oil someday, most 'experts' predict that won't come for at least 20 years and others, like Exxon (not that we can expect anything like objectivity from them), are saying we have enough to last several hundred more years. As always, and this is a truism that applies in every single area of life, very likely the truth lies somewhere in the middle. We would all do well to remember that fact. It applies to everything. So forget about peak oil. It's not a problem now and won't anytime soon. Period.
About the economy, we've dug ourselves into a very deep hole, but, by and large, things haven't changed that much for the majority of people. A minority of people are hurting, sadly, but most people are doing just fine, thank you, and will continue to do just fine.
The U.S. will continue to print money just as Zimbabwe has done, but, unlike Zimbabwe, it won't do much damage here no matter how much they print. That's because dollars are the currency of choice on the international scene and because of that no major country is going to decouple at any cost no matter what. See China for an example. Their economy is teetering principally because of the dollar and yet they continue to buy our bad debt and will continue to do so.
In other words, the economies of the world have accepted the dollar, despite all it's flaws, as the international currency knowing that it has no intrinsic value in and of itself, knowing that the U.S. is simply printing paper, knowing that there is nothing behind it besides rhetoric. So the dollar has become, not cash but a type of credit. As long as countries continue to accept this situation, things will go on just as they always have. As I said earlier, it is a downward trend, but a slow decline.
The only real variable in all of this are the people themselves. By and large American's are an angry, unpredictable people. Not something intrinsic in themselves, rather it's a mentality created and fed by the ratings loving media. Without that unrelenting negativity, that constant desire to find the bad in every single situation, without that mob mentality which serves principally the interests of the media, attitudes would stablize, people would moderate, things would cool down and the world situation would finally improve. But the media has built itself a very powerful fortress. And so things have gone from bad to worse and will continue to do so. Another prediction, unfortunately. And in that may be the knot which will unravel for us all.
Even IEA promises oil crisis for the next decade.
US debt is not sustainable, period. Perpetuum mobile has not been invented and cannot be invented - says thermodynamics.