Viral Collapse - Guy McPherson

[hatrack]

EDIT

Meanwhile, it has become generally known that it is mathematically impossible to pay off the U.S. debt, as I reported several months ago (more figures are available here, and the U.S. Debt Clock is always worth a look). And, lest you think there is help on the way, the sovereign debt crisis is just getting started, along with the collapse in commercial real estate.

The U.S. reflects mortgage holders, hopelessly underwater. The mortgage holders should be walking away, according to at least one professor of law. Unlike the mortgage holders, the U.S. cannot walk away, even though an economic recovery is hopeless at this point. And the U.S. is merely one of many countries hopelessly underwater. The global debt time bomb goes off soon, as even Europe and the U.S. will default. Even MarketWatch has begun, finally, to call this event the economic apocalypse. It’s too late for economic salvation, even as Business Insider understates the economic news, writing we’re somewhere between dire and disastrous.

Even as the greatest economic implosion in world history accelerates, the underlying cause -- peak oil -- remains chronically under-reported. Nonetheless, Sir Richard Branson finally is warning that the peak-oil crunch will be worse than the credit crunch (thereby failing to recognize the importance of the former in creating the latter), the Wall Street Journal is warning us to prepare for peak oil, and British oil companies and CEOs are sounding the alarm. These numbskulls have failed to notice we’re passed peak, and that it’s too late for societal-level preparations. The U.K. Telegraph is making fun of people who make personal preparations for peak oil and its economic consequences, but their laughter seems a little nervous to me. Even with the vaunted war machine, the ability of the U.S. to import oil is dwindling: Saudi Arabia has slipped from our number two supplier to number four while the new number two provider, Mexico, is in oil-supply free-fall.

Apparently failing to notice where empires go to die, the U.S. military has powered up the surge in Afghanistan even as the Pentagon admits U.S. taxpayers are forking over $400 for each gallon of gasoline used there. And most Americans think five bucks a gallon is an outrage when they pay it directly.

EDIT/END

http://www.energybulletin.net/51563

[jwirr]

1. Thank you for the post. They may laugh at those of us who are trying

to prepare for the coming changes but in the end we will be proven correct. One of the big problems I see is that many of us are preparing to survive in the middle of communities where everyone else is blindly carrying on as usual. Our neighbors do not have gardens, chickens, or any other means of survival that I can see.

[amborin]

2. you should post this in GD, too