I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Posted: Thu Jul 10, 2008 11:38 pm Post subject: Re: Losing Their Drive - Demand Destruction?
Here's a topic I started before I realized this article was here.
Its a report by an economist with CIBC - the largest bank in Canada and shows a more pessimistic view for gas pricing and demand destruction.
http://peakoil.com/fortopic42966.html
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