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Hhmmm...sounds familiar, doesn't it? Where have I heard that?
"....there are such unfortunates"
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The root cause of printing money and making bubbles is declining oil supplies? Are we living in the same universe? Next, you're going to tell me the implosion of these trillions of dollars of derivatives was due to oil supplies?
I humbly disagree, sir. Oil prices are a symptom, not the disease.
Mossed, energy IS the ability to do work. Money only represents that ability. You can not have economic growth without energy. It's not that complex to understand. Money and energy are intrinsically linked, and energy IS the economy.
Growth occurred for no other reason than because it appeared the main source of energy - light crude oil - was limitless. It wasnt. ... This nation got exponentially wealthy during the 40s and 50s and 60s when our domestic oil production was exploding. What happened when U.S. domestic oil production (as predicted by Hubbard) peaked and began to decline in the early 70s? Is it a coincidence to you that our corporatist president at the time scrapped the gold-standard that same year? Not to me. We've had a ponzi-scheme economy ever since. Of course it's been a bubble waiting to burst ever since.