Quote:
Originally Posted by raymor
I'm going to make a ten year prediction. I predict that in ten years the world will basically run out of oil.
I could be wrong. The US government made the same prediction in 1914, again in 1939, then again in 1951. I predict that the crisis is real THIS TIME.
Twenty years ago I, and many others, predicted that significant parts of the US coastline would be underwater by 2010 due to global warming. California is still here, so I guess I was wrong. I'm probably right this time, though.
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The cheap oil is definitely going to run out. So will the oil guzzling countries tell their citizens to get smaller more fuel efficient cars or borrow more money to pay for the bill to support a life style they don't deserve?
Only one way that the massive borrowing is funding some people way beyond their means. Read JHC'c post and think what would happen to the economy if the banks kept 100% of the money deposited with them. Lending and borrowing fuels the economy/life style you enjoy. The problem is some enjoy an economy/life style way beyond what they deserve.