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#1
wjfox

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I posted this in the previous forum. I'm a big fan of Michael Ruppert, and thought his Collapse documentary was absolutely excellent - a comprehensive look at Peak Oil, the monetary system, and the looming energy crisis. He has a good track record of earlier predictions, and his forecast of the credit crunch was very accurate indeed.

However, I'm hesitant to believe his latest claims. He seems convinced that we're facing a major depression/economic collapse in just a few months' time, mainly as a result of the Japanese quake, but also due to other factors like oil.

What do other forumers here think? Is there some truth in what he's saying, or is he just a doom-monger?




#2
wjfox

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Hmm... I said I'm skeptical, but then I read articles like this, and maybe he does have a point... http://www.google.co...977b2e73a97.481 I doubt a truly "Mad Max"-style collapse will happen, but we are definitely in for some tough economic times ahead.
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#3
atoblade

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I hope he is wrong but even it's not in July I have to say there will be a massive crash as he says in the next few years :cry:

#4
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Sorry about that last post, but I don't see how to edit it. Why don't you put your captcha AFTER the box where the user posts his comment? I searched this site for PLANNED OBSOLESCENCE I got no hits whatsoever. Galbraith wrote about that in 1959 in his book The Affluent Society. There are 900,000,000 cars in the world. Planned Obsolescence is PLANNED DEPRECIATION. But our brilliant economists have not been computing and reporting the DEMAND SIDE DEPRECIATION for the last 60 years. The Laws of Physics don't give a damn about ECONOMICS. But cars wear out because of physics. Those cars depreciate because of physics. So our present is the result of technology and our current economic state is the result of economists not applying Grade School Algebra to that technology. They don't talk about NET Domestic Product. And when they compute it they only subtract SUPPLY Side Depreciation. We are running a world of SEVEN BILLION PEOPLE on defective algebra. http://www.spectacle...99/wargame.html But he is talking about quarterly reports instead of TRILLIONS lost on the depreciation of junk manufactured by those corporations over the last 50 years. Of course if economists mention that they would have to admit that they have been really STUPID. But can we continue this stupidity into the future? Isn't this website about the FUTURE? .

#5
EndGirl

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Population is out of control. For every person that dies is a job opening, an extra 100 gallons of unpolluted water, 100 trees that get to stay, and some open space.

#6
mic of orion

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Hmm... I said I'm skeptical, but then I read articles like this, and maybe he does have a point...

http://www.google.co...977b2e73a97.481

I doubt a truly "Mad Max"-style collapse will happen, but we are definitely in for some tough economic times ahead.



I agree, it won't be easy as everyone thinks, sluggish recovery and no major banking reforms ensures we are in for another major recession in not to distant future, engineered by you know who.
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#7
wjfox

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#8
Nom du Clavier

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Something's going to give, that's for sure. It doesn't help that the global economy is the mother of all Ponzi schemes either. Creating money out of thin air, ever rising interest payments, spiraling inflation, even if not in July, if the world economy is not drastically re-engineered, it's a disaster waiting to happen. We have the technology and resource abundance for a much higher standard of living for everyone on the planet, including the moneyed interests who prefer the status quo.

Let's hope that when the wheels come off, we come out of it with a more sane system. If not, the "Free Market" Dark Ages will make the canonical Dark Ages look like spare change in comparison, and that would be a real crime against humanity when the solution has been staring us in the face for decades. http://www.futuretim...tyle_emoticons/animate/sick.gif
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#9
Prolite

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No, he's a doom monger. The only thing that would crash the economy is:

1- United States Congress fails to increase it's debt limit.

2- The United States doesn't do anything about it's budget deficit.

3- If the United States Congress doesn't reinstate the Glass/Steagall Act to eradicate OIL being traded as a futures commodity on the stock market.

These three things will be a test of the Obama Presidency. If oil prices remain the same, than our economic recovery is in big trouble. Consumer spending only rose .04% last month. Most of it was stifled by the cost of energy (oil). Food prices are increasing because of oil prices.
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#10
Nom du Clavier

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3- If the United States Congress doesn't reinstate the Glass/Steagall Act to eradicate OIL being traded as a futures commodity on the stock market.

These three things will be a test of the Obama Presidency. If oil prices remain the same, than our economic recovery is in big trouble. Consumer spending only rose .04% last month. Most of it was stifled by the cost of energy (oil). Food prices are increasing because of oil prices.


That would be a start, yes. Oil needs to be phased out rapidly not just for the environmental impact, it's also much too easy to hijack economies with.
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#11
wjfox

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Suddenly Everyone Is Warning About The Next Financial Collapse http://www.benzinga....e#ixzz1O7QiIou2

#12
Nom du Clavier

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[quote name='wjfox' timestamp='1307015641' post='1381']
Suddenly Everyone Is Warning About The Next Financial Collapse

http://www.benzinga....e#ixzz1O7QiIou2
[/quote]

[quote name=''from that article']*Mark Mobius' date=' the executive chairman of Templeton Asset Management's emerging markets group: "There is definitely going to be another financial crisis around the corner because we haven't solved any of the things that caused the previous crisis."[/quote']

This. At least someone's getting it.
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#13
Craven

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That would be a start, yes. Oil needs to be phased out rapidly not just for the environmental impact, it's also much too easy to hijack economies with.


I believe any rapid movement may be dangerous. Oil phase out is ahead anyways.
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#14
Nom du Clavier

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That would be a start, yes. Oil needs to be phased out rapidly not just for the environmental impact, it's also much too easy to hijack economies with.


I believe any rapid movement may be dangerous. Oil phase out is ahead anyways.


Noting I mentioned phasing out, I'll clarify that this includes replacing it with something sustainable. Even doing this as rapidly as possible will take, as we're dealing with real world concerns, quite a while. I wasn't suggesting this be a turn key solution and we'd all go green simultaneously next week, nor would I know how we'd even make that work. Rapidly phasing out simply means best speed ahead without disruption, in my book, the phasing out for my part implying the limiting of disruption as far as we can. I'd have said, 'we need to drop all oil use tomorrow' otherwise, and you'd be right to point out that's dangerous. :)
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#15
wjfox

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http://www.bbc.co.uk...siness-14368324

Asia to account for half of world GDP by 2050, ADB says

Asia will account for half of all global economic output by 2050 if it can maintain its current growth rate, the Asian Development Bank (ADB) has predicted.

It said Asia's gross domestic product (GDP) could increase from $17tn (£10tn) in 2010 to $174tn in 2050.

The ADB added income levels in Asia could match those in Europe today.

However, it warned that challenges such as widening income gaps and corruption posed a threat to the region's growth.

"By nearly doubling its share of GDP to 52% by 2050, Asia would regain the dominant economic position it held some 300 years ago, before the industrial revolution," the bank said.

Inclusive growth

While the growth of Asian economies has turned them into major global players, the benefits of expansion have yet to pass fully to the poor and underdeveloped regions.

The ADB said reducing disparity was key to the region's ability to maintain its growth momentum.

"All Asian countries must give much higher priority to inclusion and reducing inequalities - rich/poor, rural/urban, literate/illiterate, and along gender and ethnic lines," it said.

The bank explained that countries in the region needed to reduce not only the widening income gap, but also work towards ensuring equal opportunities of employment and access to resources for the masses.

ADB warned that if this was not addressed in time, rising income disparities across countries "could destabilise the region".

Financial challenges

As the Asian economies grow and become significant contributors to global economic output, the region is expected to see a rapid development of its financial markets as well.

The ADB expects Asia to be home to almost half of the world's financial assets, banks and equity and bonds markets by 2050.

However, the bank warned that as the sector grows rapidly, the region's economies will have to make sure that they put proper procedures and checks in place.

"Asia will need to formulate its own approach to finance, avoiding both over-reliance on market self-regulation and excessive central government control of bank-dominated systems," the ADB said.

It warned that a collapse in the financial markets could have serious long-term implications, citing two recent crises that have hurt both the region and global economic growth.

"Asia's leaders must remain mindful of the lessons of the 1997-1998 Asian financial crisis and the Great Recession of 2007-2009."

Urbanisation vs resources

Asia's rapid expansion has seen massive migration of workers from rural areas to urban centres.

And as the region gears up to expand further, the speed of urbanisation is expected to increase even more.

"By 2050, Asia will be transformed, as its urban population will nearly double from 1.6 billion to 3 billion," the ADB said.

As they become home to more people, Asian cities will have to develop their infrastructure. That will see a rise in demand for raw materials, which in turn could put pressure on the prices of commodities.

The bank said rapid urbanisation coupled with economic expansion would also see a surge in demand for energy.

However, it warned that given the region's "excessive reliance" on energy imports, Asian economies would have to look for alternative sources in order to meet demand.

"Asia's future competitiveness will depend heavily on how efficiently it uses its natural resources and progresses to a low-carbon future," the ADB said.

#16
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#17
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Wall Street had its worst day for almost three years as shares tumbled on fears about the eurozone debt crisis and the US economic recovery.


From http://www.bbc.co.uk...siness-14410184

Looks like we're heading for another recession like in 2008.
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#18
OrbitalResonance

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#19
Prolite

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We can thank the Republicans for that and the President's lack of leadership. This President should be out there demanding that the damn pot holes I have to avoid every day be filled in, and that the bridges that look like they're about to fall to smithereens be fixed. The President should be finding ways to fix this economy by putting more money into the hands of the middle class and the poor. Big corporations don't need a tax cut. They're holding a combined 2 trillion dollars in cash on their balance sheets. Obviously they're investing in China, India and other parts of the world that are more lucrative. Our President needs to stop acting like a damn conservative Republican and be a Democrat already.

Cutting spending contracts the economy. Simple as that. The whole global economy is about to go into a deep recession AGAIN, but this time, Europe is gonna feel the pain real bad, especially with Spain, Greece, and Portugal have major debt and solvency problems.
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I'm a business man, that's all you need to know about me.

#20
Prolite

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The commentary in this video is so corny. I couldn't even watch it. It takes them too long to explain things. And I feel like I'm confined to living inside a cardboard box. :wacko:
I'm a business man, that's all you need to know about me.





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