And after a year or two, what is it that is going to end the recession?
Increased worldwide production? Increased world trade of what kind of goods?
With the real or approaching depletion of most raw materials what is the "new economy" going to be built on?
In my humble opinion, the future is China.
As much as we hate to admit it, they are the future super power.
They have a controlled economy. They are investing in solar power, amongst other things.
Their population is huge.
This recession will end somewhat as it did in the 80's. New technology.
Solar power. Hybrid cars.
The U.S. consumerism will not be the driving factor.
But, that is just my opinion.
3 comments:
Lynda,
Thanks for the reply to previous comment.
I appreciate your daily shipping notes, just as an economic indicator. I have great concerns as to where we are headed, mostly related to debt and corruption in financials, and rapidly approaching (or here) depletion of, and unavailability of, fossil fuels and natural resources.
I wonder if you have had a look at Chris Martenson's "crash course." It is a pretty good nutshell of our rather dire, but realistic I believe, predicament.
http://www.chrismartenson.com/crashcourse
I took a quick look at the web-site.
The comment that "the next 20 years will be nothing like the last 20 years"....duh
This guy must be under the age of 50.
I am so old I started working when copy machines were a new invention..watch Mad Men and you will get an idea of how much business has changed in the last 40 years.
Or, better yet, read some history as to the Roman Empire, Ottoman Empire, etc.
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