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Gold/Mining/Energy : Peak Oil - Not If but When
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From: veritas5012/12/2010 9:59:47 AM
of 129
 
Greece can't handle its debt. Germany's economy was flat in the 4th quarter of 2009. Banks in the USA are still being closed down by the FDIC and New Jersey has declared a fiscal emergency to address its deficit.

Welcome to the Peak Oil economy.

Post-WW2, oil, in inflation adjusted terms, is at highs not seen since 1978 - 82, which coincided with one of the worst recessions this country has experienced. Clearly, the world economy was not designed to handle oil at $70/bbl or higher.
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