Comments on: More Like A Depression Every Day http://www.aspousa.org/index.php/2009/10/more-like-a-depression-every-day/ Truth in Energy Thu, 09 Feb 2012 01:25:06 +0000 http://wordpress.org/?v=2.6.2 By: Big Crash Coming? « Christopher A. Haase http://www.aspousa.org/index.php/2009/10/more-like-a-depression-every-day/#comment-3418 Big Crash Coming? « Christopher A. Haase Fri, 30 Oct 2009 21:41:50 +0000 http://www.aspousa.org/?p=2631#comment-3418 [...] More Like A Depression Every Day, I described strong deflationary pressures in the American economy despite the Shock & Awe [...] [...] More Like A Depression Every Day, I described strong deflationary pressures in the American economy despite the Shock & Awe [...]

]]> By: Big Crash Coming? :: ASPO-USA: Association for the Study of Peak Oil and Gas http://www.aspousa.org/index.php/2009/10/more-like-a-depression-every-day/#comment-3412 Big Crash Coming? :: ASPO-USA: Association for the Study of Peak Oil and Gas Thu, 29 Oct 2009 17:59:27 +0000 http://www.aspousa.org/?p=2631#comment-3412 [...] More Like A Depression Every Day, I described strong deflationary pressures in the American economy despite the Shock & Awe [...] [...] More Like A Depression Every Day, I described strong deflationary pressures in the American economy despite the Shock & Awe [...]

]]> By: captain Rick http://www.aspousa.org/index.php/2009/10/more-like-a-depression-every-day/#comment-3404 captain Rick Fri, 23 Oct 2009 20:30:23 +0000 http://www.aspousa.org/?p=2631#comment-3404 good article. No doubt the slow down is upon us. Not just peak oil,,but the massive transfer of wealth from most of Americans to Wall street. What do angry gun toting middle class workers do/? Rather that shoot out Goldman Shits, they shoot each other. You are right the roving gangs will plunder all of us who are vulnerable, but the Elite in their gated compounds will be safe to continue their psychopathic havoc on the rest of us.with impunity.They will have plenty of oil, like money to burn. It is time that ASPO and other oil blogs face real facts and to stop generalizing about loss of oil and how that will effect us all. You must look at the disproportionate use of energy by the ruling elite. In peak oil scenarios, one billionaire will use as much gasoline as 1000 of the rest of us.We will survive peak oil fine if we face the fact that these greedy bastards on Wall Street must be stopped in their tracks now.Rationing must begin soon. good article. No doubt the slow down is upon us. Not just peak oil,,but the massive transfer of wealth from most of Americans to Wall street. What do angry gun toting middle class workers do/? Rather that shoot out Goldman Shits, they shoot each other. You are right the roving gangs will plunder all of us who are vulnerable, but the Elite in their gated compounds will be safe to continue their psychopathic havoc on the rest of us.with impunity.They will have plenty of oil, like money to burn. It is time that ASPO and other oil blogs face real facts and to stop generalizing about loss of oil and how that will effect us all. You must look at the disproportionate use of energy by the ruling elite. In peak oil scenarios, one billionaire will use as much gasoline as 1000 of the rest of us.We will survive peak oil fine if we face the fact that these greedy bastards on Wall Street must be stopped in their tracks now.Rationing must begin soon.

]]> By: Bill Simpson in Slidell http://www.aspousa.org/index.php/2009/10/more-like-a-depression-every-day/#comment-3402 Bill Simpson in Slidell Fri, 23 Oct 2009 04:54:53 +0000 http://www.aspousa.org/?p=2631#comment-3402 The son of the founder of Hess oil just said at the 'Oil and Money Conference' in London, that without immediate action, the world will face a devastating crisis in between 5 to 10 years, as skyrocketing oil prices wreck the economy.(Source: Telegraph.co.uk, which discusses oil a lot, if you're bored.) The article is 'The sun slowly sets on the West's oil men'. It is one of the most popular articles, which is good. And I guessed 5 to 10 years here, a while back. Maby he is reading ASPO's site. Even the British government is now saying that peak oil will probably occur around 2020. Of course, peak oil could easily wreck the economy thru demand destruction for non-energy goods and services, quite a few years before oil production actually begins to fall. So don't think that everything will be just fine for another 10 years. It won't. Chinese oil demand is now the key factor in when we hit the wall. Everything now depends on how fast Chinese oil demand grows and how much they will be willing to pay. They are now buying 1,000,000 new cars a month. Thankfully, Mr. Hess finally pointed out the 'economic' oil crisis. At least the economic mess should reduce the demand for oil and flatten the slope of the fall in oil output (albeit the hard way). That should give the world a few more years before the real crash begins when the refineries start to shut down forever. Will anyone with political power listen, and actually do more than just talk? Not likely until gas hits $4 a gallon again. I give that about another 2 years. Starting NOW, you may want to consider peak oil in any major decisions you make. I'll give you an example. After the failed Corps of Engineers levees flooded my home during Katrina, I could have relocated to a rural area, where I had always planned to retire. I'm an amateur astronomer, so I would have loved to buy a farm way out in the darkness, far away from the light pollution so widespread since the invention of vapor lighting, which interferes with the viewing of dim galaxies. Then I thought about peak oil and being stranded out in the middle of nowhere, and not being able to get enough fuel (rationing IS coming) to go anywhere important, like the grocery, job, medical care, to see real live people, etc. An isolated house out in the country might be a tempting target for groups of young, unemployed thugs, should law and order really break down. Ever see 'In Cold Blood?' (I know, Sharon Tate got killed right in L.A. but if you find the new house now built on the murder site on Google Earth, you'll see how isolated it is, at the end of the street, with steep brushland all around it. You'll need to do some detective work, since they changed the Wikipedia address. I was always curious how noone heard the gunshot, so I had to find it.) No matter how much firepower you have, you've got to sleep sometime, and the lights might not be on every night after peak oil. "Can I help you?" might get answered with a bullet. Peak oil might keep the police busy elsewhere. Government budget cuts might shrink the police forces, since they are a large part of local budgets. So I bought a brick house in a single family subdivision with the grandiose St. Tammany Parish Sheriff Complex a half-mile away, a fire station & supermarket closer, and a middle school, which is an evacuation shelter, across the street. If troops are needed, they could be stationed right there. I couldn't have planned this better as a peak oil hideout! Oh, and I'm out of all flood zones. The less you plan for peak oil now, the more it will make life difficult for you, and your family, in the future. The son of the founder of Hess oil just said at the ‘Oil and Money Conference’ in London, that without immediate action, the world will face a devastating crisis in between 5 to 10 years, as skyrocketing oil prices wreck the economy.(Source: Telegraph.co.uk, which discusses oil a lot, if you’re bored.) The article is ‘The sun slowly sets on the West’s oil men’. It is one of the most popular articles, which is good. And I guessed 5 to 10 years here, a while back. Maby he is reading ASPO’s site.
Even the British government is now saying that peak oil will probably occur around 2020. Of course, peak oil could easily wreck the economy thru demand destruction for non-energy goods and services, quite a few years before oil production actually begins to fall. So don’t think that everything will be just fine for another 10 years. It won’t. Chinese oil demand is now the key factor in when we hit the wall. Everything now depends on how fast Chinese oil demand grows and how much they will be willing to pay. They are now buying 1,000,000 new cars a month.
Thankfully, Mr. Hess finally pointed out the ‘economic’ oil crisis. At least the economic mess should reduce the demand for oil and flatten the slope of the fall in oil output (albeit the hard way). That should give the world a few more years before the real crash begins when the refineries start to shut down forever.
Will anyone with political power listen, and actually do more than just talk? Not likely until gas hits $4 a gallon again. I give that about another 2 years.
Starting NOW, you may want to consider peak oil in any major decisions you make. I’ll give you an example. After the failed Corps of Engineers levees flooded my home during Katrina, I could have relocated to a rural area, where I had always planned to retire. I’m an amateur astronomer, so I would have loved to buy a farm way out in the darkness, far away from the light pollution so widespread since the invention of vapor lighting, which interferes with the viewing of dim galaxies. Then I thought about peak oil and being stranded out in the middle of nowhere, and not being able to get enough fuel (rationing IS coming) to go anywhere important, like the grocery, job, medical care, to see real live people, etc. An isolated house out in the country might be a tempting target for groups of young, unemployed thugs, should law and order really break down. Ever see ‘In Cold Blood?’ (I know, Sharon Tate got killed right in L.A. but if you find the new house now built on the murder site on Google Earth, you’ll see how isolated it is, at the end of the street, with steep brushland all around it. You’ll need to do some detective work, since they changed the Wikipedia address. I was always curious how noone heard the gunshot, so I had to find it.) No matter how much firepower you have, you’ve got to sleep sometime, and the lights might not be on every night after peak oil. “Can I help you?” might get answered with a bullet. Peak oil might keep the police busy elsewhere. Government budget cuts might shrink the police forces, since they are a large part of local budgets.
So I bought a brick house in a single family subdivision with the grandiose St. Tammany Parish Sheriff Complex a half-mile away, a fire station & supermarket closer, and a middle school, which is an evacuation shelter, across the street. If troops are needed, they could be stationed right there. I couldn’t have planned this better as a peak oil hideout! Oh, and I’m out of all flood zones.
The less you plan for peak oil now, the more it will make life difficult for you, and your family, in the future.

]]> By: More Like A Depression Every Day :: ASPO-USA: Association for the … : PlanetTalk.net - Learn the truth , no more lies http://www.aspousa.org/index.php/2009/10/more-like-a-depression-every-day/#comment-3399 More Like A Depression Every Day :: ASPO-USA: Association for the … : PlanetTalk.net - Learn the truth , no more lies Fri, 23 Oct 2009 01:21:11 +0000 http://www.aspousa.org/?p=2631#comment-3399 [...] See the original post: More Like A Depression Every Day :: ASPO-USA: Association for the … [...] [...] See the original post: More Like A Depression Every Day :: ASPO-USA: Association for the … [...]

]]> By: Scott Benson http://www.aspousa.org/index.php/2009/10/more-like-a-depression-every-day/#comment-3398 Scott Benson Thu, 22 Oct 2009 20:15:43 +0000 http://www.aspousa.org/?p=2631#comment-3398 Was nice to see your face at the ASPO conference. It's more interesting knowing what a writer looks like when you are reading his/her stuff -- I don't know why. Anyway, I am a real-life example of the self-imposed debt "trap." I have a government job at $95k/year. I have two mortgages on my building, a regular mortgage ($246k left) and a HELOC ($205k) on a building now worth $500k. I pay $4,000 a month toward these mortgages. I have no home equity left. My credit card is at $18k and rising, which I try to pay $1,500 toward each month. I'm not starving, I'm not losing sleep, but there is NO way I can borrow any more money and service it properly, and I know I'm not alone. What are these poor people who used debt to keep their living standards the same for 30 years as we closed the paid-a-decent-wage factories doing? Banks aren't lending because they have no one to wisely lend to. And even if I could borrow it, it won't be repaid in a timely fashion. My salary just won't cover it. I know you are a fan of blogs (hopefully Mish's blog, which explains some of this), but this is all logical. I didn't borrow the money for vacations, clothes, cars or a new kitchen, but to rebuild an old house and help some friends with school. Nevertheless, the end result is the same: I wasn't blowing the borrowed money, but I won't be borrowing or overspending any more for at least 5-10 years. Nothing is going to get out of this "depression" but time. Was nice to see your face at the ASPO conference. It’s more interesting knowing what a writer looks like when you are reading his/her stuff — I don’t know why.

Anyway, I am a real-life example of the self-imposed debt “trap.” I have a government job at $95k/year. I have two mortgages on my building, a regular mortgage ($246k left) and a HELOC ($205k) on a building now worth $500k. I pay $4,000 a month toward these mortgages. I have no home equity left. My credit card is at $18k and rising, which I try to pay $1,500 toward each month. I’m not starving, I’m not losing sleep, but there is NO way I can borrow any more money and service it properly, and I know I’m not alone. What are these poor people who used debt to keep their living standards the same for 30 years as we closed the paid-a-decent-wage factories doing? Banks aren’t lending because they have no one to wisely lend to. And even if I could borrow it, it won’t be repaid in a timely fashion. My salary just won’t cover it.

I know you are a fan of blogs (hopefully Mish’s blog, which explains some of this), but this is all logical. I didn’t borrow the money for vacations, clothes, cars or a new kitchen, but to rebuild an old house and help some friends with school. Nevertheless, the end result is the same: I wasn’t blowing the borrowed money, but I won’t be borrowing or overspending any more for at least 5-10 years. Nothing is going to get out of this “depression” but time.

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