I think if we get away with a mid-80s style recession we will be very very lucky. The lifeblood of the western economic model, cheap debt, has deserted us. Its going to be carnage I believe, with many banks having been left unregulated and with worthless "assets" on the books for which they paid good money, the appetite for more reckless lending has disappeared.
Perhaps for the best. It may become painful, but at least we will learn once again to live within our means.
Any chance people could stop driving cars that do less MPG than an 18 wheeler? We might be able stretch our supplies out a little longer that way.
My car does 80 MPG. Its not a fancy electronic/Hydrogen/hybrid, its a siple little diesel. Cheap as Chips. Why do people have to drive round in Dodge trucks all day long with the boot empty?
right in your analysis. $130+ oil is here to stay now...