Our economic perturbations become more bizarre every day.
A few years back peak oil all seemed so simple.
A record 5.4 million homeowners were either overdue on payments or in foreclosure at the end of last year.
Earlier this week the Associated Press grappled with the issue of whether or not the current economic downturn has reached the point that it can be called a depression.
Events are moving faster all the time. Some are highly visible such as the falling stock markets, the steadily rising unemployment numbers and the drumbeat of global gloom and doom emanating from the media.
Someday peak oil will be about high gas prices and lines at the pumps, but for the time being it is mostly about numbers – lots and lots of numbers.
A few years ago, peak oil was relatively easy to understand. At some point in the future, and estimates varied as to exactly when, oil production was going to start declining due to a combination of geologic and geopolitical factors, prices were going to rise precipitously and a massive civilization-wrenching […]
As the economy spirals deeper and deeper into an economic morass, Washington’s attention this week is focused on the $900 billion economic stimulus package that is making its way through the Congress.
Our wish has been granted for we are indeed living in interesting times. The world’s economy is either collapsing or is putting on a very good imitation of doing so.
I hate to keep coming back to cars, but in the last hundred years they have come to be one of the most significant facets of civilization – yet their future is in doubt.