Tag «Buddhist»

U.S. economy locked in spiral of death

Cheap oil allowed us to build the suburbs and treat our houses as ATMs. Thus, cheap oil allowed the fiesta of economic growth and the packaging of bank loans into increasingly complex bundles of surreality. When reality bitch-slaps the banks, it’s really peak oil doing the slapping. When banks fail, or are baled out by … well, you and me … the failures are induced by peak oil and the “baling out” is a tax on you and me.