(no subject)

[peristaltor]

From this post:

It is this last point that has got me most concerned - the first three points together are bad enough, but it is the peaking of oil production that will be the real killer over the long term. I don't think we're looking at a recession here - we're looking at a long term economic downturn, maybe the equivalent of an economic depression if some oil experts are to be believed. (Emphasis mine)

The rest of the article has very prescient predictions about the current downturn in the housing market we're currently experiencing. It's scarily on target.


X-posted to peak_oil