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Originally posted by troubleshooter
Originally posted by redzi0n
Hi, it as my belief as put forward in the following video that the economic crash will happen next time the oil price spikes.
The basic idea is that as global demand for oil becomes higher than oil production (we have passed peak oil production), the price goes through the roof, the weaker developing economies cannot afford the oil so there is a local economic crash and the demand for oil suddenly drops. The oil price goes down and the rest of the world economy slowly recovers and starts using more oil until it again reaches the point where demand out weighs supply and prices spike again causing another crash in the places that cannot afford the oil. Thats why the oil price chart is 'bumpy'. The idea is though that next time it spikes the whole world will crash.
A simple projection of the following oil price graph suggests the economy will crash in 6 - 10 months.
I have lived through a few recessions and there is this thing that happens...
...the pendulum swings from optimism to pessimism...
...but not quite how you might think.
When the economy has been going up and begins to plateau in prep for a fall...
...the optimists are loudest with encouragments that it will continue to go up.
When the economy goes down and finds a base and begins to build again...
...the pessimists are loudest with prophecies of further doom.
Doom sayers are loudest at the moment so we are beginning to bulid again.
Originally posted by silent thunder
Originally posted by Nomad451
Guys seriously, how long is it going to take for people to wake up and realize NOTHING IS GOING TO COLLAPSE. It was all meant to collapse last year in September, October... oh wait no it will definitely collapse in December!
Not going to happen. Its a whole lot of delusion
[edit on 14-1-2010 by Nomad451]
Let's see...one in four American children on foodstamps and zero real gains in the broad market in ten years despite understated inflation, more national debt than ever, and increasing, while foreigners edge away from US bonds, housing falling nationally for the first time since the Great Depression, and many more such dire tidbits...hmm.
I believe you are correct. It's not "going to happen." Rather, it's "been in the process of happening" for some time.