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John Day MD's avatar

The fundamental resource is energy, in the case of post WW-2 industrial society, oil is the fundamental resource. Economic analyses which overlook the fundamental might make fair estimates when the fundamental resource is not limited, as in the 1960s, for instance, but when the fundamental resource is tipped over into decline, and theories presume it to be always-adequate, predictions will diverge widely from reality.

See here, please: https://surplusenergyeconomics.wordpress.com/

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Buffalo_Ken's avatar

The article states:

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Maybe a slow steady decline of usage over 50 – 100 years will happen. But “collapse” is Armageddon talk. BOOM cannot see any scenario whereby that would happen.

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Well, maybe BOOM can't see any scenario(s), but I sure as hell can. I'm not advocating for it, I'm just saying it ought not be discounted and a distinct possibility, and more than likely it is a non-trivial possibility. For example, lets just say hypothetically within the US of A there was dispute over election results and the dispute was serious and some states presently in the "Union" began to contemplate departure - now if that happened, I suspect the US dollar would be changed forever and while it might not collapse, it could happen way quicker than 50 - 100 years, so please - give me a break on that.

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BK

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